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Anastasy [175]
2 years ago
15

PLEASE HELP AND QUICKLY!! Why is doing timely reconciliations a key part of internal control activities

Business
1 answer:
daser333 [38]2 years ago
3 0

D and

Definition:

Reconciliation is the process of comparing transactions and activity to supporting documentation. Further, reconciliation involves resolving any discrepancies that may have been discovered.

Purpose:

The process of reconciliation ensures the accuracy and validity of financial information. Also, a proper reconciliation process ensures that unauthorized changes have not occurred to transactions during processing

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Answer:

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swat32

Answer:

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Explanation:

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The decline in unit costs of a product or service that occurs as the absolute volume of production increases is known as
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Answer:

A. economies of scale.

Explanation:

The economies of scale is the scale where the company has the advantage of the cost that reaped by the organization in the case when there is an efficient production. It could be accomplished when the level of production or the volume of the production rises by lowering the cost

Therefore as per the given situation, the option A is correct as it fits to the current situation

Hence, the correct option is A.

4 0
3 years ago
Kingbird Corporation owns a warehouse. On November 1, it rented storage space to a lessee (tenant) for 3 months for a total cash
Nikitich [7]

Answer:

cash                  2,790 debit

        unearned revene 2,790 credit

unearned revenue 1,860 debit

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Explanation:

The revenue from the rent is unearned as currently the firm has to provide the rent spance for three months It will be earned as time passes.

At year-end December 31th we have earned 2 months (Nov and Dec) therefore we reocgnize for that amount

2,790 x 2/3 months = 1,860 rent revenue

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3 years ago
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cash = $10,000, property assets = $90,000, and stock shares = $100,000.

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