Internal control objectives remain essentially the same although technology, risks, and control methods change. Thus, many concepts of control (management's responsibility, the role of the control environment, reasonable assurance, monitoring, and cost-benefit analysis) are relevant regardless of IT changes.
<h3>What is
technology?</h3>
- The use of skills, methods, and processes utilized in industrial production and scientific study combined with collected knowledge to create technology.
- All equipment and electronic devices operate using technology, whether or not the user is fully aware of how they work for the organization's goals.
- Systems make up the technologies used in modern life.
<h3>Why is technology so important in today's world?</h3>
- Information sharing, meal preparation, clothing cleaning, and transportation are all things we do with the help of technology.
- However, even commonplace technologies like door locks, floor tiles, and furniture are things we now take for granted and that we consider to be less spectacular than 3D printing or self-driving automobiles.
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Answer:
The journal entry for recovery is shown below:
Explanation:
When the company, determine that it could not collect the amount, then the entry which should be recorded is:
Accounts receivable A/c..........Dr $66,000
Bad debts expenseA/c........Cr $66,000
But on October 30, the company received the full amount from the customer, then entry for recovery of the bad debt is as:
Cash A/c.................................Dr $66,000
Accounts Receivable A/c.......Cr $66,000
Absolute advantage is beyond the firm's capabilities to produce domestically, but could be achieved by trading with another country.
<h3>What is Absolute advantage?</h3>
Adam Smith, an economist from the 18th century, introduced the idea of absolute advantage in his book The Wealth of Nations to explain how nations might profit from trade by specializing in producing and exporting the things that they can manufacture more successfully than other nations.
International trade is the trade where countries import and export the goods to the other countries so that all the countries have some resources.
Thus, it is absolute advantage.
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Your GP can talk to you about your options for pregnancy care and the birth. Your choices, and the facilities available where you live, will determine the role your doctor will play. Your GP will check your medical history. They'll ask about health issues that could affect you or your baby
