Misappropriation of assets is a fraudulent act that involves theft of company property.
In asset management, the challenges faced in addition to maximizing the life cycle of the asset itself are errors, misappropriation of assets and financial statement fraud on assets under management.
Mistakes are common in various managements, errors in asset management are caused by unintentional mistakes, in contrast to misuse and fraud which have an intentional element. These things lead to company losses in terms of assets.
<h3>
Understanding Missappropriation of Assets</h3>
Misappropriation of company assets or assets is an illegal act which is often also referred to as embezzlement of assets or theft of assets. For example, embezzlement of company cash, use of facilities for personal gain, fraudulent expenditure of company expenses.
The embezzlement of large amounts of assets will adversely affect the company's cashflow. If not immediately detected and prevented, this will become a new culture that is detrimental to the company.
Learn more about Missappropriate of assets at brainly.com/question/10569326.
#SPJ4
I believe the answer is: B.That it makes it possible for society to become better off by increasing both its production and its consumption.
Without trades, in order to fulfill all needs of the people, a country need to separate their time and resources to produce each of the needed products. With trades, a country could increase the production of the products in which they have a natural advantage at, and trade the products with other countries in case we need different product that we do not produce here.
Answers A and E seem correct. B makes no sense. C makes no sense. and my renters insurance was very cheap vs property insurance.
Answer:
Explanation:
When a sales is made on credit, the primary accounts that are affected are the sales accounts and the accounts receivable , with a credit entry of the sales value to the sales account and the same value in the receivable account. We also need to know that the cost of the item is credited to the inventory and debited to the cost of goods respectively.
However , when the sales is returned , the above entry will be reversed and a reversal entry is recorded as below
Credit account receivable - $500
Debit sales return = $500
Debit merchandise inventory $150
Credit cost of goods $150