Answer:
That statement is true.
Explanation:
In business, compliance department is created in order to identified various forms of risks that might be faced by the companies and implement a certain set of controlled procedure to prevent that risks from happening.
This cover wide variety of risks starting from :
<u>- financial </u>
Risk that involved implementing the wrong strategy which could lead to decreased profit
<u>- Procedural</u>
Risk that involved Unproductive behaviors or Frauds conducted within the company territory
<u> - safety</u>
This include protection both physical and emotional safety . Such as making sure that no abuse occurred to the employees, non-dangerous work environment, usage of safe materials, etc
Answer:
1. Journal - Closing Entries
Date Account Titles Debit Credit
Sales Revenue $970,000
Income summary $970,000
(Closing of revenue account)
2. Closing the expenses accounts as necessary
Journal - Closing Entries
Date Account Titles Debit Credit
Income summary $888,000
Cost of goods sold $670,000
Salary expenses $150,000
Rent expenses $47,000
Interest expenses $21,000
(Closing of expenses account)
3. Closing net Income
Journal - Closing Entries
Date Account Titles Debit Credit
Income summary $82,000
Retained earning $34,000
Dividends $48,000
(Closing of net income)
There are five barriers commonly plaguing loyalty program in achieving real success. First is, Loyalty program is a loyalty approach. Customers wants to purchase and have an exchange of value as a result. Second, the marketing department is responsible for loyalty program. Customer is always at the center of decision-making. Third, customer profitability is the key indicator. Fourth, build a program, the data will come. Giving what the consumer wants is easier, if you know what it is. Lastly, technology makes it easy. We all know that technology can be a key ingredient of a loyalty program, but do not eliminate customer choice.
Answer:
Investment revenue = $91,000
Explanation:
the journal entry to record the dividends received would be:
Dr Cash 31,500
Cr Investment in Tetter Co. 31,500
the journal entry to record the reporting of the net income:
Dr Investment in Tetter Co. 91,000
Cr Investment revenue 91,000
When a company uses the equity method, any dividends received will decrease the carrying value of the investment, while any net income reported will be considered investment revenue.
Answer: specialty store
Explanation:
Specialty store is a store that concentrate on collection of brands within a particular category of products. They focus on specific product retail. Examples are book selling shops, game stores, furniture stores.