Answer:
True.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.
An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.
Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.
In conclusion, it's very important that governments receiving federal grants and contract funds have an accounting information system with adequate internal controls capable of delivering reliable information to compare the actual amount spent with budgeted amounts.
Answer:
-0.33
Explanation:
The calculation of the price elasticity of demand using mid point formula is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity demanded is
= Q2 - Q1
= 80 units - 100 units
= -20 units
And, the average of quantity demanded would be
= (80 units + 100 units) ÷ 2
= 90 units
Change in price is
= P2 - P1
= $2 - $1
= 1
And, the average of the price is
= ($2 + $1) ÷ 2
= 1.5
So, after solving this, the price elasticity of demand is -0.33
I think its the mean...........
Answer:
C. The legal system does not necessarily facilitate or stabilize commercial practice.
Explanation:
The government of the United States is a federal system in nature. It has a written system and a common law legal system. The "legal system" of American is based on the system of federalism or the decentralization system.
The legal system for America on the other hand is for interpreting and enforcing the law. Advance development in the political and legal system may increase the risk of the country. Thus the legal system of America does not facilitate or the stabilize any commercial practice in america.
Answer:
4. Martha's average utilities
Explanation:
As in the question, it is given that Martha has signed a listing agreement with the Broker Patrick.
The listing agreement refers to a contract between the real estate broker and the real estate owner that allows the broker the authority to act as a property sales agent.
The terms and conditions which are mentioned the listing contract are presented below:
a. Starting and expiration date of the contract
b. Patrick's commission
c. Martha's priced. Other terms and conditions
