Answer:
An increase in the price of one substitute good causes a decrease in supply for the other.
Explanation:
I just took a test on this subject last week :)
EPS = $1.44 (after rounding off)
<u>Explanation:</u>
<u>The calculation of Earnings per share is as follows:
</u>
Particulars Amount
Earnings before interest and tax = 71325
Less: amount of interest = 0
Earnings before tax = $71325
Less : the amount of tax ( 34 percent) = 2425.05
Net income = $47074.5
The number of shares given = 32,800
The formula of calculating the earning per share is = Net income divided by the number of the shares of a company
Thus, EPS = $47074.5 divided by 32,800 = $1.44 (rounded oof)
Answer:
B. Accounts Receivable
Explanation:
In the allowance method of accounting for uncollectible receivables the Uncollectible Accounts Expense is recognice against Allowance for Doubtful Accounts in advance to a customer's account became uncollectible acording to different variables. This is done at the closer of the financial period, like it follows: Uncollectible Accounts Expense(Debit) - Allowance for Doubtful Accounts (Credit).
Then, when a customer's account became uncollectible the Uncollectible Accounts Expense is already recognise, so you write off the customer's account agaisnt the Allowance for Doubtful Accounts like it followws: Allowance for Doubtful Accounts (Debit) - Accounts Receivable (Credit).
Therefore the general ledger account credited to write off a customer's account as uncollectible is Accounts Receivable
The general guideline for the segregation of duties is that the following areas should be separated by accounting controls : 1. custody of assets, 2. authorization of transactions, and 3. record-keeping responsibilities.
<h3>Give a brief account on segregation of duties.</h3>
The assignment of distinct steps in a process to different personnel is known as the segregation of duties. By exercising extreme control over a process, the goal is to prevent situations in which someone might steal something or do another fraud. In essence, distinct parties should have physical custody of an asset, record-keeping responsibilities for it, and acquisition and disposal authority.
A key component of a control system is the separation of roles. When evaluating an entity's system of internal controls, auditors will consider duty segregation and will give the system a lower rating if there are any segregation problems.
The auditors will change their methods when there are segregation problems because they will presume that the danger of fraud has increased. This method shift typically entails a rise in audit workload, which is passed on to the customer in the form of higher audit fees.
To know more about, segregation of duties, visit :
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Answer:
A. Monitors and controls production, sales, shipping, service, or related business processes.
Explanation:
The Progress Report is the main tool for checking project status. It shows how much work still needs to be done on the project. This is done by estimating the effort required to complete each of the Work Items to be addressed in the project and showing how the estimated effort is evolving from one iteration to another. The Project Progress Report should be updated at the end of each iteration.
It is through the progress report that it is possible to monitor and control the production, sales, shipping, service, or related business processes.
