Answer:
Explanation:
A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.
B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person put on a payroll for fraud purposes.
C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment
D
- Some of the actions that the company failed to do are
- No proper authorization in place before employees are added to payroll
- No segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salary
- There has been no headcount of employees for a long time
- The entire payroll system has not been audited and reviewed for a long time
Answer:
The incorrect statement regarding relevant costs and revenues:
To be relevant, a cost or revenue must not be future-oriented and must differ between the alternatives.
Explanation:
For a cost or revenue to be considered as relevant, it must be incurred or earned at a future time. It must also differ between the options available for decision making. A cost or revenue cash flow is relevant if it arises from a management decision and can be avoided. This simply means that if the cost or revenue is not affected by management decision or does not make any difference in decisions, it is not relevant.
Answer:
$953
Explanation:
According IFRS the equity and Liability portion of a bond should be recorded separately at the time of bond Issuance. The Liability portion can be calculated current value of the similar non convertible bonds and the difference between the Present value of cash flows and total proceeds from bond is the equity value.
Convertible Bond are value at the present value of their cash flows.
Use following formula to calculate the value of the bond.
Value of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]
Value of the Bond = ($1,000 x 6%) x [ ( 1 - ( 1 + 6.5% )^-15 ) / 6.5% ] + [ $1,000 / ( 1 + 6.5% )^15 ]
Value of the Bond = $952.99
A service not provided by a credit counselor is lending the borrower money.
<h3>Who is a credit counselor?</h3>
Credit Counselors helps one tomanage credit and make better plans for credit in the future.
They will also help you clear or better manage your debt too. The counselor might speak to the creditors on the borrower's behalf.
Hence, a service not provided by a credit counselor is lending the borrower money.
Learn more about credit counselor here : brainly.com/question/25320998
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Answer:
1. Purchase of stock. FINANCING ACTIVITIES.
Financing activities relate to transactions that involve the capital of the company. They include long term debt and equity. In this case, the company is buying back its own shares so this falls under Financing activities as it has to do with the company's own capital.
2. Principal payment on long-term debt. FINANCING ACTIVITIES.
Principal repayment retires long term debt and as mentioned above, financing activities relate to activities that involve long term debt.
3. Proceeds from sale of properties. INVESTING ACTVITIES.
Properties are fixed assets and transactions involving these are considered investing activities so the proceeds from a sale of properties would rightfully be an investing activity.
4. Inventories (decrease). OPERATING ACTIVITIES.
Transactions that have to do with the day to day operations of the business fall under operating activities and this includes inventories decreasing.
5. Accounts payable (decrease). OPERATING ACTIVITIES.
Operations of the business includes accounts payables decreasing as well.
6. Depreciation and amortization. OPERATING ACTIVITIES.
Depreciation and amortization arise from using the fixed assets for day to day operations so this will fall under Operating activities.
