Answer:
d.provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.
Explanation:
The purpose of internal controls is to provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.
By definition: An internal control is a procedure or policy put in place by management <u>to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.</u>
Summarily, internal controls are put in place as a process to prevent employees from stealing assets or committing fraud.
I really want to say income statement
Answer: Has increased.
Explanation: Income per person has increased over the years because the cost of living and expenses have also increased. As the cost of items go up, income increases to help consumers be able to afford living and purchasing goods and services.
Answer:
A. The Receipt Capture feature uses Optical Character Recognition (OCR) technology to read and transform receipt data to QuickBooks Online. ⇒ TRUE
B. If QuickBooks Online finds an expense already entered in QuickBooks Online, it will suggest that you match the receipt to the existing transaction. ⇒ TRUE
C. You can snap a picture of a receipt, then review, match, or add it directly from the QuickBooks Online mobile app. ⇒ TRUE
D. QuickBooks Online will fill in the fields it can for the expense using the OCR data. ⇒ TRUE
Explanation:
the other options are false because:
- E. You can assign a payee, account, payment date, category, description, amount, and memo to the expense transaction in the Review screen.
- F. You can only have one sender email registered to forward receipts in each company. ⇒ FALSE, you can connect to multiple accounts, generally for different clients. You can use the "Add new sender" link.
Answer:
A. 29.6%
Explanation:
Return on Equity is the times of profit a owner can earn on the equity investment in the business. Higher ratio shows the business is more profitable.
As per given data
Net Income = $36,610
Average Equity = $123650
Return on Equity ( ROE ) = Net Income / Equity Investment
Return on Equity ( ROE ) = $36,610 / $123650
Return on Equity ( ROE ) = 0.296
Return on Equity ( ROE ) = 29.6%
