Answer:
The correct answer is letter "C": Positive confirmations.
Explanation:
Positive confirmations are audit procedures by which ambiguous information is clarified. It also implies the confirmation of the accuracy of the data provided in the company's books and Financial Statements. By doing so, liabilities, bank accounts, accounts receivables and payables amounts are verified.
Answer:
May incorporate in any state it chooses.
Explanation:
Incorporation can be defined as the creation of a new business which will have equal rights as that of an individual.
The different steps for incorporation include:
- Proper documentation of the reports of incorporation.
- Choosing a suitable name for the business.
- Documenting the various operational agreements.
- Appointing managers to supervise the daily activities.
- Getting a federal employment identification number.
- Opening accounts for keeping the revenues that will be generated by the company.
- Employing diffetents workers to carry out various activities in the company.
Answer:
$33,840
Explanation:
The computation of the depreciation per units or tons under the units-of-production method is shown below:
= (Original cost - residual value) ÷ (estimated tons)
= ($158,400 - $0) ÷ (22,000 tons)
= ($158,400) ÷ (22,000 tons)
= $7.20 per tons
Now for the year 2021, it would be
= Tons during 2021 × depreciation per tons
= 4,700 × $7.20 per tons
= $33,840
