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e-lub [12.9K]
3 years ago
5

Of the four consumer protection groups listed below, identify which groups are government agencies and which are non-governmenta

l. I. Better Business Bureau II. Consumer Product Safety Commission III. Consumers Union IV. Food and Drug Administration a. I and II are governmental; III and IV are not. b. II and III are governmental; I and IV are not. c. II and IV are governmental; I and III are not. d. III and IV are governmental; I and II are not. Please select the best answer from the choices provided A B C D
Business
1 answer:
Katen [24]3 years ago
8 0

Answer:

c. II and IV are governmental; I and III are not.

Explanation:

A government agency is usually a permanent organization established by either a state or national government in a federal system. They are established by legislative or executive powers for oversight and administration of specific functions. Examples of government agencies are Food and Drugs Administration (FDA), Consumer Product Safety Commission, Intelligence, Finance and Communications agency.

Non-governmental agency usually referred to as NGOs is a non-profit.

Of the four consumer protection groups listed above, Consumer Product Safety Commission and Food and Drug Administration are governmental; Better Business Bureau and Consumers Union are not.

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-transposition
Triss [41]

Accounting error are errors committed in accounting, which are not intentional.

<h3>What is accounting error?</h3>

These are unintentional errors committed in accounting, which are often corrected when spotted.

Matching each definition to each example is shown below:

  1. Ethan records $1,000 as a rent expense; however, the actual rent paid was $1,500  Original entry
  2. Ethan records stationery expenses as $251, but it should have been $215    Transposition
  3. Ethan records salaries of $5,000 as credits instead of debits. Reversal of entries
  4. Ethan made a subtraction error while analyzing the profit on the sale of an asset.  Calculation
  5. Ethan completely overlooked stationery expenses of $115.  Omission

Learn more about accounting errors here : brainly.com/question/25671660

#SPJ1

6 0
3 years ago
Why is barter inefficient?
Alexxandr [17]

Answer:

People didn't want to trade their goods for other goods anymore.

Explanation:

People wanted to have both their item and another item (which they wanted to buy). Then currency was invented.

3 0
3 years ago
Corentine Co. had $169,000 of accounts payable on September 30 and $141,000 on October 31. Total purchases on account during Oct
Lelechka [254]

Answer and Explanation:

The computation is shown below:

a. For the cash paid

= Opening balance of account payable + total purchase - ending balance

= $169,000 + $298,000 - $141,000

= $326,000

b. The sale amount on account should be equivalent to the ending balance of account receivable i.e. $106,000

c. The beginning cash balance is

Closing cash balance = beginning cash balance + cash receipts - cash disbursements

$27,100 = Beginning cash balance + $119,500 - $120,150

So, the beginning cash balance is $27,750

7 0
4 years ago
A company must account for a contract modification as a new contract if Group of answer choices the modification adds distinct g
OLEGan [10]

Answer:  the modification adds distinct goods or services at a price that reflects their stand-alone selling price.

Explanation:

When multiple goods or services are offered in the same contract they are not usually given their standalone price but rather a contract price that is less as a form of discount for getting all the goods at the same time.

When a modification is added however, that reflects the standalone price of goods added, the contract has to account for the contract modification because there are now multiple pricing conventions and this needs to be accounted for.

7 0
3 years ago
Supply Company reported the following information in its comparative financial statements for the fiscal year ended January​ 31.
Contact [7]

Answer: See explanation

Explanation:

1. Net profit margin ratio​ (%) for 2017 will be:

= Net income/Net sales

= 6220/89500

= 0.0695

= 6.95%

Net profit margin ratio​ (%) for 2018 will be:

= Net income/Net sales

= 6370/91000

= 0.07

= 7%

An improvement of (7% - 6.95%) = 0.05% occurs in net profit.

2. Asset turnover for the year ended 2017 will be:

Net sales/Average total assets

= 89500/64400

= 1.39

= 139%

Asset turnover for the year ended 2018 will be:

Net sales/Average total assets

= 91000/65000

= 1.4

= 140%

There's an improvement in the asset turnover in 2018.

3. Return on assets for 2017 will be:

= Net income/Average total asset

= 6220/64400

= 9.66%

Return on assets for 2018 will be:

= Net income/Average total asset

= 6370/65000

= 9.80%

An improvement in return on total assets of (9.80% - 9.66%) = 0.14% occurs.

Both component-net profit margin ratio or asset turnover- are responsible for the change in the company's return on assets.

3 0
4 years ago
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