According to the "adapting to change" box, the professional that is best able to detect the financial irregularities that often accompany fraud in an organization is Control process.
<h3>What is control process?</h3>
Controlling involves assessing the performance of a company and modifying the financial performance.
This is done for credibility and to meet the company's objectives, goals and plans.
Control process serves as yardstick to which the goal of business or company is achieved. Managers of company engage in control process.
Therefore, According to the "adapting to change" box, The professional that is best able to detect the financial irregularities that often accompany fraud in an organization is Control process.
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True
Basic unit of consumer sector consisting of all persons who occupy a house, apartment, or separate living quarters.
Lena makes $45 profit.
Extra information:
The amount of profit Lena makes is 3/4th of the profit Joe makes, seeing as when Joe makes $4 profit, Lena makes $3 and $3 is 3/4th of $4. Therefore, when Joe makes a profit of $60, Lena makes a profit of (60 x 3/4) $45.
Vaughn's net income for the year 2022 is: c. $88,000.
<h3>Net income</h3>
Using this formula
Net income=Revenues - expenses
Where:
Revenues=$735,000
Expenses=$647,000
Let plug in the formula
Net income=$735,000-$647,000
Net income=$88,000
Therefore the correct option is c.
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In a commercial bank's t-account, reserves and outstanding loans are recorded as assets.
In economic accounting, "reserve" usually has a credit balance and may talk over with part of shareholders' fairness, a liability for envisioned claims, or contra-asset for uncollectible debts. A reserve can seem in any part of shareholders' fairness besides for contributed or simple proportion capital.
Reserves are a part of income or gain that has been allotted for a selected reason. Reserves are usually installed to shop for fixed property, pay bonuses, pay an anticipated prison settlement, pay for upkeep & protection and pay off debt.
Reserves – additionally called retained income – are portions of a commercial enterprise's profits that have been set aside to strengthen the enterprise's economic function.
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