Answer:
true
they are e.g like our capitalists
Answer:
The correct answer is letter "B": journal to the ledger.
Explanation:
The activity in which accountants transfer information from the journals to the general ledger is called posting. By posting, only the balances are transferred to the general ledger, not individual transactions. There are no set intervals in which postings should be made. It depends on how often the activities of the company requests it.
Answer:
8 years
Explanation:
the rule of 72 calculates how long it takes for an amount to double given interest rate
72 / 9% = 8 years
Answer: The five components of internal control are control environment, risk assessment, control activities, information and communication, and monitoring.
Explanation:
The five components of internal control are control environment, risk assessment, control activities, information and communication, and monitoring.
Control environment; is also known as internal control environment. These are set of standards and structures that guides the basis of carrying out internal control within an organization. It is the awareness, attitude and action of the management team regarding internal control and it's relevance to the organization
Risk assessment is used to describe the process and method of identifying hazard and risk which have potentials to raise harm in an environment
Control activities are policies, techniques and procedures that are pit in place to manage or reduce risk in an environment. Their actions carried out to minimize or limit risk in an environment
Information and communication is a method of information being passed through systems by means of communication. To place everyone involved in the system enlightened by communicating properly to them.
Monitoring is the act of observing a process to control both success and failure that may tend to arise within the process.
