Answer: $23,200 as total current asset for the period
Explanation:
Note Receivable has a value $16,000
Interest on Note = 5%
Accrued for 9 months
Yearly Interest accrued = 16,000*5%*12= 9,600
Interest for 9 months = 9600/12*9 = 7,200
Balance sheet Extract
Other Income
Int Accrued on Note Receivable $7,200
Current Asset
Note Receivable $16,000
Int Accrued on Note Receivable $7,200
Total Current Asset $23,200
Answer:
Explanation:
Corruption is the misuse of power that have been entrusted, It is doing contrary .
Corruption leads to poverty - the state of been poor, lacking in important things. When resources available for masses is embezzled by some certain persons it makes others poor lacking in good thing.
Corruption leads to unsustainable growth and development. In a corrupt environment their is virtually no growth or slow growth rate, individual life's cannot be sustained become they lack resources and amenities.
Answer:
Elasticity is more than One (Ed > 1): When demand is elastic, a fall in the price of a commodity results in increase in total expenditure on it. On the other hand, when price increases, total expenditure decreases. It means, in case of highly elastic demand, price and total expenditure move in the opposite directions.
Explanation:
hope it helps yoou
Answer:
Strictness error
Explanation:
Strictness error occurs when raters (e.g., supervisors) judge employee performance to be less than what it is when compared against objective criteria.
Answer:
B.
Explanation:
Based on the information given that a large portion of sales occur at the last month of the year, a key audit concern or risk would be the revenue or sales cutoff. This concern is on the recognition of revenue in the appropriate period as most of the sales are recorded in the last month of the year. The risk exist that such sales are recognized to meet up with the yearly sales target of the organization. The performance of analytical procedure would not be effective as the results (trend) over the past 5 years have been similar. A test of internal controls at an interim date may also not be effective as there may be multiple level connivance to ensure that sales target are met. Also, the review of period end compensation of bonuses paid may not address the identified risk as such option B which deals with revenue recognition is the most appropriate option.
