Answer:
There should be strong internal controls implemented and segregation of duties in the finance department.
Explanation:
There is lack of internal controls present in the company which may lead to fraud or errors. The employees assigned to record the transaction are not recording all the cash receipts and are missing some of the cash receipts which can cause errors during reconciliation. The sub divisions of finance department must be segregated and there should be a supervisor who should be responsible to review all the work done by these departments.
The product’s equilibrium price
Just simply because the price and quantity is the same
Answer:
Until Marginal Revenue = Marginal Cost
Explanation:
In the short run, a monopolistic ally competitive firm continues to increase production until MR = MC if it can at least cover its variable cost. This is the profit maximizing condition. If firm is able to cover his variable costs in short run, he should continue production.
Answer:
$232,400
Explanation:
Data provided
Net increase in Retained Earnings = $182,000
Dividend declared for the year = $50,400
The computation of net income for the current year is shown below:-
Net income for the current year = Net increase in Retained Earnings + Dividend declared for the year
= $182,000 + $50,400
= $232,400
Therefore for computing the net income for the current year we simply added the net increase in retained earning with dividend declared for the year.
