Answer:
a. I Disagree with Faith's method of handling this situation because she has not followed the internal control principle of safeguarding of assets. Stealing is a serious issue. An employee who can justify taking a box of tea bags can probably justify “borrowing” cash from the cash register.
b. I Agree with Faith's method of handling this situation because Faith has followed the internal control principle of assignment of responsibility by making one employee responsible for the cash drawer and followed the internal control principle of segregation of duties (preparing the orders) from the accounting (taking orders and payments).
c. I disagree with Faith's method of handling this situation because Faith has not followed the internal control principle of segregation of duties. It is true that faith has made one employee responsible however after cash counting another employee or Faith himself remove the cash register tape and compare the balance with cash drawer for effective internal control. Also, Faith’s standard of no mistakes may encourage the cashiers to overcharge a few customers in order to cover any possible shortages in the cash drawer.
Answer:
B) nonfinancial compensation
Explanation:
Non-financial compensation doesn't have any monetary value; instead, it involves the satisfaction that an employee receives from his work environment. This satisfaction can be emotional and psychological.
Answer:
C)other countries have a comparative advantage over Singapore and Singapore will import soybeans.
Explanation:
In the case when the domestic price of the soyabeans considered withoiut the international trade and the same should be more than the world price that means the other country would have the comparative advamtage and the singapore would import the soybeans
Therefore the option c is correct
Answer: Accounting profits ignore implicit costs; economic profits consider them.
Explanation: In simple words, implicit cost refers to the cost of choosing the best alternative and loosing the profit that one could have earned by choosing the second best alternative.
Accounting profit is the revenue that one has left with after compensating for explicit cost but economic cost also takes into consideration the implicit one.
Answer:
The correct answer is False.
Explanation:
The disadvantages of deflation are basically the reduction of economic activity, the increase in unemployment, the increase in economic uncertainty, the increase in real interest rates due to falling prices, falling demand.
The danger of this situation comes from how difficult it is to get out of it, since a vicious circle is created by which when demand falls, companies are reduced their profits by having to reduce prices to get sales, as a result , they have to reduce costs, which means they have to cut jobs. In turn, if there are people who run out of work, demand will continue to decrease as they will stop buying as well.
