Answer:
2). Overseeing the company's financial accounting and financial reporting practices and evaluating the caliber of senior executives' strategy-making/strategy-executing skills.
Explanation:
A company's board of directors is primarily responsible for ensuring the appropriate management in the company keeping the interests of the shareholders in mind. Therefore, they constantly overview the financial accounting as well as financial reporting practices of the company so that there is no loophole. At the same time, <u>they are responsible for assessing the efficacy of the skills and caliber of strategy-making and strategy-executing of senior executives as they make day-to-day decisions to run the company</u>. Therefore, their efficacy would play a vital role in determining the company's success and growth. Thus, <u>option 2</u> is the correct answer.
Answer:
Option (d) is correct.
Explanation:
Given that,
June 1 Beginning inventory 20 units at $19 = $ 380
June 7 Purchases 70 units at $20 = 1,400
June 22 Purchases 10 units at $23 = $230
Cost of goods available for sale = $2,010
On June 30, units on hand = 30 units
Cost of Ending inventory:
= (20 units × $20) + (10 units × $23)
= $400 + $230
= $630
Total cost of goods sold:
= Cost of goods available for sale - Cost of Ending inventory
= $2,010 - $630
= $1,380
The procedures are called PREVENTIVE CONTROLS. Preventive controls are part of internal control which are purposely built into the system.There are many types of preventive controls, for instance, separation of purchasing and accounting personnel in a company is an example of preventive control.
Answer:
Explanation:
A timeline list events in a chronological order.
If cash flows do not occur annually, a timeline can still be meaningful. Timelines can represent cash flows that occur daily , monthly, quarterly , yearly , bi - annually etc
In cases where some cash flows occur annually and others occur quarterly, the space on the timeline between cash flows that occur annually and cash flows that occur quarterly woild be different in order to indicate the different lengths of time.
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