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:
BANK
DR BALANCE 50 000
CR ACCOUNTS PAYABLE 15 000
ACCOUNTS PAYABLE
DR BANK 15 000
CR CREDITORS CONTROL 15 000
Since no figures are given, we use $15 000 as an example to show how much a creditor was owed and has been paid.
Since the creditor has been paid in full, the accounts payable is now at $0 at the end of the month.
Answer:
publications
networks of career professionals
career preparation activities
Explanation:
Answer:
Part (1) November 1
The amount paid is the rental advances and must be recorded as advances which falls under the current asset category:
Dr Rental Advances $90,000
Cr Bank account $90,000
Part (2) December 31
On this date, some of the rental advances paid would be realized as expenses from the period November 1, 20X1 to December 31, 20X2.
This time duration constitutes to 2 months and the rental advance made on November were for five months. Out of these 5 months, 2 months share must be recognized as expense which is
The relevant entry would be:
Dr Rental Expenses $36,000
Cr Rental Advances $36,000
