1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
matrenka [14]
3 years ago
11

Internal control procedures for cash receipts do not require that:_____.

Business
1 answer:
Alex73 [517]3 years ago
7 0

Answer:

b. All collections for sales are received immediately upon making the sales.

Explanation:

Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the

resources of an organization are been

measured as well as been directed and monitored.

It should be noted that Internal control procedures for cash receipts require that:.

✓Custody over cash is kept separate from its recordkeeping.

✓Clerks having access to cash in a cash register should not have access to the register tape or file.

✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.

✓Cash sales should be recorded on a cash register at the time of each sale

You might be interested in
Becky's daughter early fall, her daughter tried onher soccer cleats from the spring and, although they were still in good shape,
Simora [160]

She had just begun the purchase decision process.

<u>Explanation:</u>

The purchasing decision process is the process which a person takes in order to plan what he wants to and have to buy according to the needs of that person so that the needs of the person is satisfied and met.

The purchasing decision process is taken by the person keeping in mind the resources that the person has which are needed to buy the thing that he wants. If he does not have the appropriate resources, then the decision had to be changed.

8 0
3 years ago
Ramon's checking account requires that he maintain a minimum balance of $2000 to avoid a monthly service fee, and his balance at
allsm [11]

no his lowest balance so far this month has been $1966.18.

4 0
4 years ago
Read 2 more answers
Two positions have normally been taken with respect to the recording of fixed manufacturing overhead as an element of the cost o
SpyIntel [72]

Answer:

Recording fixed manufacturing overhead as element of the cost of plant assets constructed by a company for its own use:

a) When to exclude completely: During periods of low production activity, capitalization of fixed overhead costs would reduce the amount assigned to operational activities.  This implies that profits will be overstated in some periods and understated in others.

b) When to include at the same rate as is charged to normal operations:  To avoid misstatement of both plant assets and finished goods, it is important to allocate overhead costs at the same rate to plant asset construction as is done for normal operations.

Explanation:

Much of the fixed manufacturing overhead will be the depreciation costs for factory building and equipment.  Sometimes, companies construct their plant assets internally.  The problem arises when deciding whether to allocate fixed manufacturing overhead costs or not and  when to allocate.  The decision requires some thinking to decide when it is appropriate.

4 0
3 years ago
Bert's company is about to release a new electronics product. The electronics product is estimated to have a short life cycle be
Anastasy [175]

Answer: The answer is price skimming.

Explanation:

The price skimming is a form of price discrimination overtime rather than space. It is a situation where a company wants to take the advantage of some buyers willing to pay a higher price for a product than other because, To them the product has a high present value price in order to earn extra money from such buyers.

This type of objective is favoured where the following condition exist

1. There are enough buyers who want to pay higher price.

2. The higher price will not quickly attract entry by competitors.

3. The demand for the goods is highly inelastic, in cases whereby buyers are not price sensitive and therefore, do not react to higher prices.

4. If the Market is a narrow one

5. If the emphasis is not on high volume production and sales.

7 0
3 years ago
A regression line is the line that best fits the data, but this does not mean that the fit is good. In other words, there can st
horsena [70]

Answer:

Larger-sq and small Se.

Explanation:

Regression line is a line that clearly describes the behavior of a given set of data.

Regression lines are very essential for forecasting processes. The importance of the line is to describe the interrelation of a dependent variable (Y variable) with one or many independent variables (X variable).

An analyst can forecast future behaviors of the dependent variable by making use of the equation gotten the regression line. This is done by inputting different values for the independent ones. Regression lines are frequently employed in the financial sector.

Financial analysts make use of linear regressions to forecast stock prices, commodity prices and also to carry out valuations for many different securities. Companies use regressions for the purpose of forecasting sales, inventories and a lot of other variables that are needed for strategy and planning. The regression line formula is represented below:

(Y = a + bX + u)

6 0
3 years ago
Other questions:
  • What is the probability a worker who would select the same career plans to retire early (to 4 decimals)?
    5·1 answer
  • The following information was taken from the accounting records of Gorky Corporation for the year ended December 31, Year 1: Cas
    6·1 answer
  • describe how adding a risk-free security to modern portfolio theory allows investors to do better than the efficient frontier. A
    6·1 answer
  • Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no b
    15·1 answer
  • Consider the market for university economics professors. Suppose the opportunity cost of going to graduate school to get a Ph.D.
    5·1 answer
  • *ECONOMICS*
    10·1 answer
  • An investor owns a portfolio of large capitalization blue chip stocks, each of which happens to be in the Dow Jones Industrial A
    6·1 answer
  • As Rome expanded, the conquered territories sent payments that honored the acceptance of the new rulers. What were those payment
    12·1 answer
  • Help which one is NOT correcltlt modeled
    12·2 answers
  • Tom Jordan is a manager for a McDonald's restaurant. Many of his key responsibilities include analyzing data and making key deci
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!