Answer:
The answer is
For 2018 - 1.5
For 2019 - 1.3
Explanation:
Asset turnover ratio=Net sales/average total assets
For 2018:
Sales - $480,000
Beginning asset - 360,000
Ending asset -360,000
Average total asset:
($280,000 + $360,000)/2
=$320,000
Therefore, asset turnover for 2018 is:
$480,000/$320,000
=1.5
For 2019:
Sales - $513,500
Beginning asset - $360,000
Ending asset - $430,000
Average total asset:
($360,000 + $430,000)/2
=$395,000
Therefore, asset turnover for 2019 is:
$513,500/$395,000
=1.3
Answer:
This leads to a reduction in net income
Explanation:
Manufacturing overheads refer to those costs which indirectly relate to a good's production. Examples of manufacturing overheads would include depreciation charged on equipments used for production, rent of the factory wherein production takes place.
The effect of recognition of $400 of estimated manufacturing overheads would be reduction in net income since their recognition raises the cost of production which reduces gross profit. Consequently this would reduce the net income.
That statement is false
Due process refers to the treatment that both parties involved in a case should experience in order to obtain a hearing. The standard for the treatment is the same for civil and criminal cases. The only thing that different between the two only the magnitude of the punishment.
<h2>
True. The early detection of fraud avoids greater loss.</h2>
Explanation:
The early detection of fraud needs to be done for the following reason:
- Fraud will continue if not found earlier and thus leads to greater loss
- The fraud team is not widen before huge loss happens
- Easy to recover
- Possibility of finding the loop holes even if it is from external sources
- Detects weakness in the internal control and eradicate and make the system secure
- Avoid huge loss and threats
- To gain profits
- To keep up the name of the organization
- To bring business and to retain customers
