All categories

3 years ago

Why is doing timely reconciliations a key part of internal control activities? It ensures that

Business

1 answer:

kati45 [8]3 years ago

3 0

Answer:

It ensures that the Effective internal control reduces the risk of asset loss, and helps ensure that plan information is complete and accurate, financial statements are reliable, and the plan's operations are conducted in accordance with the provisions of applicable laws and regulations. ... Why internal control is important to your plan.

You might be interested in

A buyer contracts to purchase a property from a seller for $212,000. Two weeks before closing, a buyer's agent for another compa

ehidna [41]

The listing associate should present the offer to the seller as a potential backup offer for further negotiation.

<h3>Who is a seller?</h3>

A seller is any person or company who sells a product, service, or financial asset.
Short selling is the practice of borrowing securities that are not held in order to sell them and then repurchase them at a reduced price.
A "writer" is a seller of options who collects the premium from the buyer.

<h3>What is an offer?</h3>

In exchange for something else, a commitment to do or refrain from doing something.
An offer must be worded and delivered in such a way that a reasonable person would expect its acceptance to result in a binding contract.

Therefore, the listing associate should present the offer to the seller as a potential backup offer for further negotiation.

Know more about a seller here:

brainly.com/question/906651

#SPJ4

7 0

2 years ago

Pontchartrain Company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and De

solmaris [256]

Answer:

$1,568,498

Explanation:

First calculate the Amont of discount

Discount on the bond = Face value - Proceeds from the bond = $20,000,000 - $19,604,145 = $395,855

Now prepare the bond amortization

The Bond Amortization schedule is attached with this answer, please find it.

Now calculate the interest expense for 2017

Interest Expense 2017 = $784,165.80 + $784,332.43

Interest Expense 2017 = $1,568,498.23

Interest Expense 2017 = $1,568,498

3 0

3 years ago

Which industry most spurred economic growth and innovation in related industries?

Tatiana [17]

The actual correct answer is A railroads

4 0

3 years ago

Read 2 more answers

What is the most likely effect of the development of XBOX with DVD capabilities on the DVD player industry? a. decreased price

Shkiper50 [21]

Answer:

The correct answer is letter "B": Increased price elasticity of demand for the DVD player industry because XBOX are substitutes.

Explanation:

Price elasticity of demand reflects the changes in quantity demanded for a good or service as a result of changes in price. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than one (1) the demand is elastic.<em> It means a minimum change in price has a major impact on the quantity demanded volume. </em>

Thus, <em>if XBOX implements DVD features, DVD players will face an increase in their price elasticity of demand because changing DVD players' prices could change their quantity demanded by far because consumers will prefer purchasing an XBOX which is a substitute.</em>

7 0

3 years ago

Two goods are considered to be related goods by many buyers: if the price of one increases, buyers buy more of the other. This i

vovikov84 [41]

Answer: False.

Explanation:

False.

This indicates that the two goods are substitute goods, not the complementary goods.

In case of complementary goods, the price of one good is inversely related with the demand for other related good. For example, car and petrol; if the price of petrol increases as a result demand for cars decreases.

In case of substitute goods, the price of one good is directly related with the demand for other related good. For example, tea and coffee; if the price of coffee increases as a result demand for tea increases. So, there is a positive relationship between the price of one good and demand for the other good.

3 0

3 years ago