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3 years ago

How long should sales records such as invoices and monthly statements be stored?

Business

2 answers:

a_sh-v [17]3 years ago

7 0

Answer:

9 years

Explanation:

Invoices and monthly statements are financial records of a company. Such records are subject to audit and tax queries. Typically, tax and audit queries arise after transactions and the financial year has been concluded. Sometimes, it may take years to conclude audit or tax queries.

Nine years is considered an ideal time to store such records. It is ample time to allow for any references to audit, tax, or any other query.

Pachacha [2.7K]3 years ago

4 0

Answer:

9 years is wrong on the test

Explanation:

it could be 6 years i think

edit: 6 years is correct on the test

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What does claim mean

tino4ka555 [31]

Answer:

claim

/klām/

verb

state or assert that something is the case, typically without providing evidence or proof.

"he claimed that he came from a wealthy, educated family"

Similar:

assert

declare

profess

maintain

state

hold

affirm

avow

aver

protest

insist

swear

attest

argue

contend

submit

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allege

make out

avouch

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represent

noun

an assertion of the truth of something, typically one that is disputed or in doubt.

"he was dogged by the claim that he had CIA links"

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assertion

declaration

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affirmation

avowal

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protestation

representation

contention

submission

case

allegation

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a demand or request for something considered one's due.

"the court had denied their claims to asylum"

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Explanation:

4 0

4 years ago

Read 2 more answers

Walters manufactures a specialty food product that can currently be sold for $22.90 per unit and has 20,900 units on hand. Alter

ANEK [815]

Answer:

Increamental net income = $529,920-$478.610 = $51310

Explanation:

Total sales revenue before the further processing = $22.9 * 20,900 =

$478.610

Total net sales revenue after the further processing = ($30.9 *12900)+($20,9*6900)-$12,900 = $529,920

Increamental net income = $529,920-$478.610 = $51310

5 0

3 years ago

In what way do consumers benefit from being low-risk borrowers ?

soldier1979 [14.2K]

One risk of lenders is not being repaid. The greater the chance that you wont be paid, the higher interest you will charge as compensation for taking the risk. Loan also involves little risk, you will be wiling to accept lower interest rate. That is the reason why federal government can borrow at lower rates than private parties.

3 0

3 years ago

Bob works as a forklift driver in a manufacturing plant. When he is at work, he is covered by workers compensation insurance. Hi

olya-2409 [2.1K]

Answer:

2. 24-hour coverage

Explanation:

Based on the description being provided based on Bob's workers compensation coverage policy it seems that his arrangement is best described as a 24-hour coverage. This refers to a policy that covers the individual at all times, 24 hours a day. While the individual is at work as well as when they are outside of work.

4 0

3 years ago

Brief Exercise 24-2 Hsung Company accumulates the following data concerning a proposed capital investment: cash cost $216,758, n

Tanzania [10]

Answer:

Net Present Value = $12,400

Since net present value is positive, the investment shall be made.

Explanation:

Capital outlay = $216,758

Cash inflow every year = $43,900

Period = 10 Years

Net Present Value = Present value of cash inflow - Present value of cash outflow

Present Value of Cash Inflow = Cash inflow each year X Present value factor of cash inflows for years

= $43,900 X 5.22

= $229,158

Present value of cash outflow = $216,758

Net Present Value = $229,158 - $216,758 = $12,400

Since net present value is positive, the investment shall be made.

Net Present Value measures the net effect of an investment discounted at current rate of interest, i.e. cost of capital.

Final Answer

Net Present Value = $12,400

Since net present value is positive, the investment shall be made.

3 0

4 years ago