Answer: should be protected because their account is fully insured by the FDIC.
Explanation:
From the question, we are informed that Xavier and Alyssa kept about $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy but that the bank FDIC member bank.
Based on the above scenario, they'll be protected because their account is fully insured by the FDIC. It should be noted that the Federal Deposit Insurance Corporation helps in insuring several bank deposits and in case of bank failure, the depositors will be paid or the accounts of the bank will have to be transferred to some other bank.
How has globalization made countries more interdependent? Check all that apply.
Countries now rely on one another for vital resources.
Countries now rely on each other for new industries.
Countries now rely on one another for chances to import.
Countries now rely on one another for an employment base.
Countries rely on each other for cheaper products.
Countries now rely on one another for chances to export.
so its 1,2,3,5,6
Answer:
A. Conflict of interest
Explanation:
Conflict of interest for an organization or company is a situation whereby the organization has competing interest or loyalties become of their duties to provide more than one service for an individual or organization. This is why the act prohibited accounting firms from doing both consulting services and auditing services for the same clients as there'd be a lot of conflict of interest in doing both.
The company may not be able to make a fair decision if they would be affected by it.
Answer:
Explanation:
a. General Journal
1
Dr Cash $27,500
Cr Common Stock $27,500
2
Dr Merchandise Inventory $22,000
Cr Cash $22,000
3
Dr Cash $ 30,500
Sales $ 30,500
4
Dr Cost of goods sold $ 15,600
Merchandise Inventory $ 15,600
c)
Income Statement
For the year ended December 31,Year 1
Sales $ 30,500
Cost of good sold $ 15,600
Gross Margin $ 14,900
d)
Cash Flow from Operating Activities:
Purchase of Inventory ($22,000)
Cash Sales made $ 30,500
Cash Flow from Operating Activities $8,500
Answer:
<u><em>Internal control area</em></u>: it is responsible to stablish monitoring process in all the areas of the organization that prevent unlawful practices that are not in compliance with the regulations, laws or any external norm applicable to the company.
<u><em>Key areas:</em></u> below find 3 areas as subjects important to control and 3 areas as departments within the company
- prevention of reputational risk, prevention of credit risk, prevention of operational risk.
- Internal audit area, Compliance area, Legal area.
<u><em>Key controls:</em></u>
- dual controls in the manufacturing of products prevent operational errors
- due dilligences of the commercial area regarding the customers that stablish a relationship with the company
- setting manuals that contain how the procedures must be done.
