Answer with Explanation:
A "corporation" refers to a large company or a large entity that is being owned by <em>"shareholders."</em> It may also refer to a<em> group of companies</em> that stand or act as a<u> single entity.</u>
One characteristic of a corporation is its "unlimited life." This is contrary to sole proprietorship and partnerships which have a<u> limited life.</u> This means that a corporation will not end, expire or die in the event that one of the shareholders dies. It will only end its life under <u>intentional decisions to dissolve the corporation</u> or<u> if it goes bankrupt.</u>
In case of bankruptcy, the shareholders are also not forced to repay the debts of the corporation. Instead, the assets of the corporation will be targeted by the creditors.
So, this explains the answer.
The right answer for the question that is being asked and shown above is that: "Activity." The type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order sizes to help expand or eliminate any products or marketing activities is called the <span>Activity </span>
Answer:
the value of the quick ratio is 1.11 times
Explanation:
The computation of the value of the quick ratio is shown below:
Quick Ratio = Total Quick Assets ÷ Total current liabilities
= [Cash + Accounts Receivables] ÷ Accounts Payable
= [$145 + $99] ÷ $219
= $244 ÷ $219
= 1.11 Times
Hence, the value of the quick ratio is 1.11 times
Answer:
Explanation:
1. True
Separation of record keeping for assets from custody over assets in custody over assets reduces theft and fraud . except in a case of collusion.
Fraud and theft of assets can be easily perpetrated and covered up when an individual combines the role.
2. False
Internal control focuses more on the internal operation of an organization rather than the external. Even though it can still be of impact in checking the excesses of external parties like the government agencies , but that is not its primary objective
3.True
Internal control's main objectives can be best accomplished when there is an operational system with managerial policies that protect waste , fraud and theft , being the major factors targeted to control
4.False
Separating the responsibility for a transaction between two or more individuals or departments is a major way of preventing creation of fictitious invoices and payment as it could have easily be detected if different individuals are involved in approval and payment of invoices.
