Answer:
The correct answer is the option D: all of the above.
Explanation:
On one hand, a <em>low income country</em> is the type of country whose economy is poor mostly. It is characterized by the fact that it has no industry and most of its population has not enough money to make a good living.
On the other hand, a <em>high per person income country</em> is the concept used to refer to the whole opposite situation, in which <em>most of the people has enough money to make a good living</em> and also the majority of them are happy with that style of living due to the fact that the economy is doing well. Therefore that <em>in this type of country is where the citizens have more advantages</em>, including both<em> lower infant mortality rate</em> and <em>lower illiteracy rate</em> as well too. In addition, is in those countries where the <em>people live longer</em> because there are better health condition to live, including better medication, doctors, etc.
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Answer:
A business transaction is a financial transaction between two or more parties that involves the exchange of goods, money, or services
Answer:
Few controls can be used to prevent or detect personal purchases on company's credit cards.
Explanation:
Following controls can be taken to prevent or detect personal purchases on company's credit cards:
1. One should make sure that the company policy clearly forbids all purchases that are personal with company funds.
2. Same employee should not be allowed to originate purchases and then approve them too.
3. Controls can be installed to know if there are multiple purchases under employees approval limits.
4. Also, there should be a maximum limit of purchase for each employee.
5. Any invoice which is not related to company should be checked regularly.
Answer:
b. $212,000
Explanation:
The cost concept entails the initial recognition of an asset at the historical cost or actual cost of purchase.
For Focus company, the amount to be recorded for the land purchased from Donner company using the cost concept is not the market value of the land at $220,000 nor the initial offered price of $177,000.
The cost of another piece of land on the same block sold for $232,000 is also not the amount but the actual cost paid for the property which is $212,000.
Hence the right option is b. $212,000.
