The True statement about internal controls is <em>B. A system of internal controls is designed to prevent or detect errors and fraud.</em>
- Internal Controls are the techniques that an entity institutes to ensure the integrity of financial and accounting information, promote accountability of its employees, and prevent fraudulent activities.
- Strong internal controls can still be circumvented. Internal controls are not limited to company policies and procedures against fraud. The employment of a husband and wife or close relations in the same company is not prohibited by control procedures or separation of duties.
Thus, the true statement about internal controls is B.
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Solvency. The ability for a business to pay debts on hand is referenced as solvency same Latin root as resolve. Liquidity references the percentage of cash on hand.
Collective Goods basically mean that everything that exists (at least where it is practiced) is shared with everyone! From food to blankets and other household necessities. Whilst Private goods are goods YOU privately own and can be shared, but at your choice otherwise its just yours.
Judging based on the information from the GLOBE (Global Leadership and Organizational Behavior Effectiveness) project, it has been found that: "Chinese managers prefer structures with more hierarchy and less equality."
This is evident in the research made by GLOBE showed that the Chinese generally have a high Power Distance Index (PDI).
Power Distance Index is one of the five major qualities of cultural dimensions.
A country with a high power distance index like China means they are a society that adopts an unequal, level distribution of power.
They also believe that people need to know their role or position in the system.
Hence, in this case, it is concluded that the correct answer is option A. "Chinese managers prefer structures with more hierarchy and less equality."
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The <u>Current Ratio</u> ("<u>Banker's Ratio</u>) measures a firm's ability to generate cash to meet current obligations by selling inventory and collecting revenue.
<h3>What is bankers ratio?</h3>
A company's debt-to-equity ratio reveals how much debt it has for every dollar of shareholder equity. This ratio was developed by bankers. If you are eligible for a loan, a bank will assess your debt-to-equity ratio in comparison to others in your sector. Your risk is high if this ratio is high.
<h3>Why do bankers use ratio analysis?</h3>
The majority of ratios may be computed using financial statements, and they are used to compare a company's financial performance to that of its competitors and to identify trends in those performances. Businesses should compute these ratios on their own to discover areas for improvement before approaching a credit institution.
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