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In a retail cash sales environment, which of the following controls is often absent?

JulijaS [17]

Answer:

The correct answer to the following question is option b) Separation of functions.

Explanation:

In a retail environment , the cash management process starts when a customer pays the cashier for the product or services he or she has purchased. The cashier then counts the cash in till drawer and then at end of the day cashier takes that cash to the third party who can be either manager or owner or a supervisor. Then cashier would receive a receipt against the cash for till drawer.

Now supervisor would collect cash from all the cashier and prepare the cash to be deposited in bank. So from this process it is quite clear that here there is separation of functions here and while all other options given in the question are present in the process.

6 0

3 years ago

Calcular el valor futuro de $2,500 que se ahorran al final de cada mes por un periodo de 4 años con una tasa de interés del 9% a

amm1812

Answer:

VF= $143.801,78

Explanation:

Dada la siguiente información:

Deposito mensual (A)= $2.500

Cantidad de periodos (n)= 4*12= 48 meses

Interes mensual (i)= 0,09/12= 0,0075

Para calcular el valor futuro (VF), debemos usar la siguiente formula:

VF= {A*[(1+i)^n-1]}/i

VF= {2.500*[(1,0075^48) - 1]} / 0,0075

VF= $143.801,78

5 0

3 years ago

Here are the comparattive income statements of Georgia Development Corporation.

Oxana [17]

Answer:

When using horizontal analysis, figures are compared across different years with the subsequent year differences with the base year figures being a percentage of the base year's figures.

12/31/2017 12/31/2016 Difference Percentage

Net sales $600,000 $500,000 $100,000 20.0%

Cost of goods sold $414,000 $350,000 $64,000 18.3%

Gross profit $186,000 $150,000 $36,000 24.0%

Operating expenses $150,000 $120,000 $30,000 25.0%

Net income $36,000 $30,000 $6,000 20.0%

Net sales percentage = 100,000 / 500,000 = 20%

Cost of goods sold = 64,000 / 350,000 = 18.3%

Gross profit = 36,000 / 150,000 = 24%

Operating expenses = 30,000 / 120,000 = 25%

Net income = 6,000 / 30,000 = 20%

6 0

3 years ago

On December 31 of the current year, Pilozzi Company has the following information available:

Aleksandr [31]

Answer:

On December 31 of the current year, can the Board of Directors declare and pay a cash dividend of $ 2 million

If the company don´'t have enough cash on hand to distribute the previously announced sum to shareholders, it may have to borrow funds to honor the dividend payment.

Explanation:

Companies can pay dividends in cash or additional shares.

If the company don´'t have enough cash on hand to distribute the previously announced sum to shareholders, it may have to borrow funds to honor the dividend payment.

6 0

3 years ago

Required information Subsequent Events-Two Types Read the overview below and complete the activities that follow Oftentimes a CP

Drupady [299]

Answer:

Explanation:

Situation Type Logic

During the audit, a customer with a large A/R balance at year end declares bankruptcy Type 1 Facts were available on balance sheet date

a lawsuit…...thereafter Type 1 Facts were available on balance sheet date

A flood damages….after year end Type 2 Facts were not available on balance sheet date

Conditions that….after the balance sheet date Type 2 Facts were not available on balance sheet date

Additional evidence….balance sheet date Type 1 Facts were available on balance sheet date

7 0

3 years ago