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natka813 [3]
3 years ago
13

Which of the following fundamental responsibilities is not correct? a. The controller notifies the business reporting department

of various adjusting entries b. Adjusted trial balance figures are sent from the business reporting department to the financial reporting officer c. The treasurer notifies the business reporting department of investing and financing transaction activities d. Detailed reporting of daily production is sent to the president
Business
1 answer:
seraphim [82]3 years ago
8 0

Answer:

d. Detailed reporting of daily production is sent to the president

Explanation:

Fundamental responsibilities involves process in which the controller notifies the business reporting department of various adjusting entries, which are sent to the financial reporting officer as adjusted trial balance figures.

The treasurer notifies the business reporting department of investing and financing transaction activities.

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A type of real estate investment that offers diversification and liquidity and that is similar in form to a mutual fund is calle
Alex777 [14]

Answer: REIT

Explanation: A real estate investment trust, REIT, can be defined as an investment firm specialized in securities related to companies operating in real estate industries.

Such trust pool the money from investors and invest it in real estate securities. REIT gives the investors the exposure of real estate in their portfolios and invests like mutual funds.

4 0
3 years ago
During the​ year, credit sales were​ $820,000. Cash collected on credit sales was​ $750,000, and​ $15,000 was written off. Smoot
KengaRu [80]

Answer:

$37,000

Explanation:

The computation of the bad debt expense is shown below:

= Amount estimated as uncollectible + written off amount - credit balance of allowance for bad debts

= $28,000 + $15,000 - $6,000

= $37,000

We simply applied the above formula to determine the bad debt expense. Hence, all other information which is given is not relevant therefore, ignored it  

3 0
3 years ago
Which of the following statements about roles within groups is true?A. Roles are shared beliefs of how various individuals shoul
In-s [12.5K]

Answer:

(D) Task specialists keep the group moving toward its objective

Explanation:

  • The highest group performance occurs when a highly cohesive group has high-performance norms.
  • Group or Teams can be powerfully effective as a building block for organization structure
  • A team's purpose should be translated into  specific, measurable performance goals.
  • The key element of effective teamwork is the commitment to a common purpose.
  • Teams are now used by almost all companies to produce goods and services, to manage projects, and to make decisions about running the company.

Hence, the statement in option (D) is correctly fitted.

6 0
3 years ago
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.
ruslelena [56]

Answer:

Direct Materials Purchases Budget Sept 51680  October  60160              

Direct labor Budget September 54600 October  66150

Overhead Budget Sept  $ 20920  October  $23,230

Explanation:

The budgets are calculated in the following ways.

We multiply the required material , direct labor hour or variable overhead rate with the given number of units and then with the cost per unit to get the total costs.

MCO Leather Goods Manufacturers

Direct Materials

<u>Purchases Budget</u>

                              September      October      November

Production              5200             6300             6100

<u>Pounds per units       *  2                 *2                    *2</u>

<u>Total Pounds           10400           12600           12200</u>

Cost per pound         * $4               * $4                   *$4

<u>Total cost                41600           50400           48800 </u>

On hand

<u>Inventory               + 10080             + 9760                 ---     </u>

Direct Materials

<u>Purchases Budget  51680           60160                     </u>

<u></u>

MCO Leather Goods Manufacturers

Direct Labor Budget

                                       September           October

Production                        5200                   6300

<u>Hours required per unit * 0.7                          *0.7</u>

Total hours                      3640                      4410

<u>Rate per hour                 * $15                           *$15</u>

<u>Total labor Cost            54600                   66150</u>

 

MCO Leather Goods Manufacturers

Factory Overhead Budget

                                       September           October

Production                        5200                   6300

<u>Hours required per unit * 0.7                         * 0.7</u>

Labor Hours                      3640                  4410

<u>Variable OH                      * $3                     *$3        </u>

<u>Variable Costs                 $10920             $13230</u>

<u>Fixed OH                        + $10,000             +$10,000</u>

<u>Total OH                          $ 20920             $23,230</u>

8 0
3 years ago
Veronica offers to sell Rowena her luxury sedan and says that it has never been in an accident. Rowena hires Laszlo, a mechanic,
PilotLPTM [1.2K]

Answer:

not rescind the contract

Explanation:

According to the given situation, Veronica offers to Rowena to purchase his luxurious sedan by saying that it has been into an accident. After that Rowena hires Laszlo who is a mechanic to repair the sedan. Here Laszlo told Rowena that this sedan is mostly into an accident, after knowing these details Rowena is decided to purchase a car. After some time, Rowena faces a mechanical problem, here she can not break the contract as she already knew that car is have been into an accident mostly.

Therefore, the right answer is she cannot rescind the contract.

4 0
3 years ago
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