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g100num [7]
4 years ago
13

Why is it important to reconcile your bank statements?

Business
1 answer:
zubka84 [21]4 years ago
5 0

Answer:

When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.

You might be interested in
an industry is comprised of 20 firms, each with an equal market share, what is the four firm concentration ratio of this industr
marta [7]

Answer:

4-Firm Concentration ratio = 20%

Explanation:

Each firm has equal share

That means 100% share of the industry is divided equally among the 20 firm

Share of 1 firm = 100/20 = 5%

4-Firm Concentration ratio = Share of 1 firm * Number of firm

4-Firm Concentration ratio = 0.05 * 4

4-Firm Concentration ratio = 0.2

4-Firm Concentration ratio = 20%

3 0
3 years ago
All of the following decisions fall within the scope of operations management EXCEPT​ for: A. creating the company income statem
Tanya [424]

Answer:

A. creating the company income statement.

Explanation:

The creation of the companie's income statement is not within the scope of an operation manager's role.

It is a function of the accounting department, and shows the financial position at a particular point in time. Income statements are prepared in relation to profit and loss that the company is making. It shows a snap-shot of financial position so that management can make informed business decisions.

3 0
3 years ago
Read 2 more answers
which strategy for merging two distinct cultures is most effective when the two companies have relatively weak cultureswith over
nata0808 [166]

Answer:              

integration strategy                      

Explanation:

In simple words, integration strategy can be defined as a set of activities that are implemented by organisations for combining the activities and operations of the business without making any conflict or chaos during the merger.

In such a strategy both the companies that are merging their business tries to control several different aspects both quantitative and qualitative for example integrating the sully chain management and taking care of work place ethics and codes that run in both the organisations.

7 0
3 years ago
Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), statement of
kherson [118]

Answer:

Assets (B)

Cash from operating activities  (CF)

Dividends  (E)

Equipment  (B)

Expenses  (I)

Liabilities  (B)

Net decrease (or increase) in cash  (CF)

Revenues  (I)

Total liabilities and equity (I)

Explanation:

The balance sheet shows the assets, liabilities and equity of an entity as at a given date.

The income statement shows the revenue and expenses of the entity for the period ended while the statement of retained earnings shows the movements within the retained earnings account during the review period.

The statements of cashflow shows the net flow of cash from the company's activities namely; Operating, investing and financing activities.

4 0
3 years ago
On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years, and pay 10% interest semiann
evablogger [386]

Answer:

$82,500

Explanation:

the journal entry to record the bond issuance

Dr Cash 1,650,000

    Cr Bonds payable 1,650,000

bonds sold at par

Every 6 months it will pay = $1,650,000 x 10% x 1/2 = $82,500

journal entry to record first coupon payment

Dr Interest expense 82,500

    Cr Cash 82,500

7 0
3 years ago
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