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.
Answer:
C. operating costs that are expensed in the accounting period in which they are incurred
Explanation:
Non Manufacturing expenses are Period costs. Period Costs are the operating costs that are expensed in the accounting period in which they are incurred. Examples include selling and administrative expenses.
Remember All Manufacturing expenses are Product Costs and are used in Inventory Valuation, Setting Selling Prices and Profit determination.
Answer:
$200,000
Explanation:
The computation of the net revenue is shown below:
= Cash sales gross - Returns and allowances + credit sales gross - discounts + beginning balance of account receivable - ending balance of account receivable
= $80,000 - $4,000 + $120,000 - $6,000 + $40,000 - $30,000
= $200,000
We simply first compute the net cash sales after considering the returns and allowances, and net credit sales after considering the discounts, and deduct the ending balance of account receivable
My answer would be C ''Foreign Exchange Rate''.
Answer:
Presentation skills challenges
Explanation:
Presentation can be defined as an act of talking or speaking formally to an audience in order to explain an idea, piece of work, project, and product with the aid of multimedia resources or samples.
Basically, any speaker who wish to create an effective presentation should endeavor to interact frequently with the audience by holding a conversation.
This ultimately implies that, to create an effective presentation, speakers are saddled with the responsibility of interacting more often with the audience by taking questions, making a joke, getting them to repeat informations loud at intervals etc.
If during your presentation, you realize that you are talking too fast. This is a problem of presentation skills challenges.
Hence, speakers are advised to be passionate and show enthusiasm during their presentation because it would enhance their ability to speak confidently and as such leading to an engaging presentation.
