Answer:
The correct answer is: b, c and d.
Explanation:
Internal controls are are policies or processes put in place by the management arm of a company to ensure that the goals set by the firm are achieved both in the long term and short-term. These processes ensure safe custody of assets, reliability in financial information provided or used by the firm, compliance with regulations as well as effectiveness and efficiency in the day to day operations. With this in mind, maximisation of management compensation is not a goal of internal controls. According to COSO, there are 3 main goals of internal controls: to ensure effectiveness and efficiency of operations, reliability of financial reporting and compliance with laws and regulations.
Answer: MICROECONOMICS
1.The effect of a change in price of one good on a related good.
MACROECONOMICS
2. The relationship between the inflation rate and the unemployment rate.
3.The effect of government subsidies on the agricultural industry.
Explanation: Microeconomics is a term of the to describe the impact of certain conditions on a single product or service,it doesn't consist of the whole economy or country.
Macroeconomics is a term used to describe the impact of certain conditions on the whole economy or country. Inflation rate, unemployment rate, effects of subsidy in Agriculture etc are all Macroeconomics statistics give better understanding of the economic performance.
Answer:
The correct answer is letter "D": Wal-Mart employed a preemptive strategy.
Explanation:
Game Theory is a branch of Economy that studies the decisions in which an individual could succeed if he or she takes into account the decisions of the rest of the participants involved in the event. Game Theory has also been applied for subjects such as <em>Mathematics, Managements, Psychology </em>or <em>even Biology.
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In the game theory, the Preemptive Strategy is implemented when individuals take a step before other participants in an attempt of having a favorable outcome of the situation. They lead the event using creativity. Thus, <em>Wal-Mart used the preemptive strategy by opening stores in small towns that supported only one discount store.</em>
Answer:
$35,260
Explanation:
Calculation to Determine the proper amount of net income for 2021
Unadjusted net income $33,000
Adjustments:
a. Insurance expense overstated $2,800
[4,200-(4,200/3)]
b. Sales revenue overstated $(675)
c. Supplies expense overstated $645
d. Interest expense understated $(510)
(12%*17,000*3/12)
Adjusted net income $35,260
Therefore the proper amount of net income for 2021 will be $35,260