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MatroZZZ [7]
3 years ago
7

All of the following statements regarding a voucher system are incorrect except _____.

Business
1 answer:
kobusy [5.1K]3 years ago
6 0

Answer:

b) an invoice approval initiates the recording of a purchase

Explanation:

A voucher system is used for the authorization of cash payments. Under such a system, a voucher is prepared stating what item is to be purchased, the account which would be charged and the amount of purchases.

Internal controls refer to the system of prevention and detection of frauds and misstatements by the management of an entity to ensure integrity of financial records and transactions.

A voucher system is one of the means of implementing internal controls whereby every purchase can only be processed by sanction of an authority who is authorized to pass the purchase. The voucher issuer and authorizing authority are of course different to ensure independence.

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Think of a business idea that offers opportunity for customer credit. Assuming that you want to adopt this idea, what criteria w
mezya [45]

Answer:

an example for a company that offers back customers credit is Jimmy Johns, they have online rewards that you can sign up with you or phone number or online to earn points for your meals. When you sign up they promote you to go buy a sandwich for your first free sandwich, after that every time you come back and buy something you will be racking up points for free things like sandwiches, chips, cookies, pickles, and drinks.They also have special offers like on your birthday you get a free sub (and after you sign up).  If I wanted to do something similar with my business I make would make a rewards systems where you earn points for discounts.

Explanation:

Identify a business idea with which you can proceed. For example, you start a business that designs and creates landscaping for customers (front garden space, back patio, and so on).

This type of business provides opportunity for consumer credit, as most people would not want to pay a huge amount upfront in cash or even through credit cards.

Since the only other way is to offer credit facility, you will have to make a list of questions. You will then have to research the customer’s credit worthiness.

Check for the customer’s credit rating with the credit- and information-management companies, such as TransUnion or Equifax.

Check for the customers’ current financial positions. You can do so by finding out whether they have a secure job or a well-performing business, number of earning members in the family, and so on.

Depending on the information you acquire, you may decide either to offer complete credit, with a relatively shorter credit period, or only offer a certain percentage of credit spread across a wider credit period.

7 0
2 years ago
A customer buys shares of a stock that had its initial public offering 5 years ago. Which statement is TRUE regarding prospectus
Luda [366]

Answer:

A prospectus is not required because the initial public offering happened 5 years ago

Explanation:

A prospectus is a legal document which is to be filled by Securities and Exchange Commission (SEC) that reflects the details with respect to the investment offering to the public in terms of stocks, bond, mutual funds, etc

On the other hand the initial public offering is the offering done by the company for the first time to the public related to the investment

Since in the question it is mentioned that the customer purchased the shares of stock but its initial public offering is done 5 years ago so no prospectus is required

3 0
3 years ago
ROMI is an acronym that stands for​ _____, and indicates how much value an​ organization's marketing activities create. A. retur
docker41 [41]

Answer:

A. return on marketing investment (ROMI)

Explanation: ROMI is used to measure the overall effectiveness of marketing campaign.

5 0
2 years ago
What is traditionalist account? Give an example.​
horsena [70]

Answer:

in folklore, a narrative containing information about actual persons and events. Originating from the tales of eyewitnesses, the traditional account departs from its original factual basis when retold and becomes subject to free poetic interpretation.

7 0
2 years ago
A customer holds 100 shares of ABC Corp $100 par convertible preferred stock convertible at a 10 to 1 ratio. If ABC declares and
Leviafan [203]

Answer:

B. 100 shares of ABC preferred stock

Explanation:

Shares are ownership stakes of a company that are given out to individuals who contribute to capital base of a company.

Preference shares are those whose owners recieve preference in payment of dividends, a fixed dividend is paid to them.

Ordinary shares recieve less preference when dividend is paid, usually coming last in divedend payment.

In this scenario ABC has decided to pay 10% stock dividend. This will be paid to ordinary share holders.

So the person with 100 preference shares will have 100 preference shares

10% of par value of $100 is 0.1 * 100= $10

Number of shares are 100 so the value is now 100 * $10 = $1,000

Since the conversion rate of preference to ordinary shares is 10:1

Number of preference shares= 1,000 ÷ 10= 100 preference shares

5 0
3 years ago
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