Companies are required by the Sarbanes- Oxley Act to have their internal audit methods evaluated at least annually.
An independent, objective assurance and consulting activity meant to add," is what internal audit technique is. operations of an organization are valued and improved. It benefits a company. achieve its goals by applying a methodical, disciplined approach to. Analyze and boost the efficiency of risk control and management
The audit is thought to be a crucial step in fostering the market's much-needed trust. It aids in proving that there are no significant inaccuracies in the company's financial accounts and that there has been no fraud of any kind committed against the organization.
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A $135 petty cash fund has cash of $28 and receipts of $110. the journal entry to replenish the account would include a:________
A $135 petty cash fund has cash of $28 and receipts of $110. the journal entry to replenish the account would include a Credit to cash over and Short of $3.
Cash Over and Short Account is a record in the general ledger. The record stores the sum by which the genuine completion cash balance varies from the outset book equilibrium of money available, give or take any recorded money exchanges during the period.
A firm ought to note occasions of money fluctuations in a solitary, effectively open record. This cash over-account ought to be named a pay proclamation account, not a business ledger because the recorded mistakes can increment or diminish an organization's benefits on its pay explanation.
A Petty Cash Fund is a limited quantity of organization cash, frequently kept closed, to pay for minor or coincidental costs, for example, office supplies or representative repayments.
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Nicholas bowman has a savings account with $825 in it. he knows that he can easily withdraw this money and spend it whenever he wishes. this would be an example of:_________
Nicholas bowman has a savings account with $825 in it. he knows that he can easily withdraw this money and spend it whenever he wishes. This would be an example of a liquid asset.
What is a liquid asset?Assets that are easily convertible into cash are referred to as liquid assets. Even while assets are priceless belongings that may be exchanged for money, not all of your assets can be sold right away for cash or without incurring a loss. Cash is a common liquid asset. The most liquid asset is cash.
Generally speaking, liquid assets must already be in the form of cash or the business must be able to quickly convert the asset to cash (such as less than a month.) In order to be considered a liquid asset, a security or bond must be actively traded on the market.
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Which annuity payout option usually results in the largest periodic payment?
a. unit refund annuity
b. joint and last survivor annuity
c. life annuity
d. life annuity-period certain
The correct option is (c) life annuity.
The payout increases as the predicted annuity term decreases. The life annuity is the shortest predicted term because it only lasts for the duration of that person's life.
What is life annuity ?A financial instrument known as a life annuity offers a predetermined periodic payout amount until the annuitant's death. Annuitants purchase a life annuity by paying premiums or a lump amount. In order to complement or provide for retirement income, life annuities are frequently employed.
A joint and last survivor annuity pays the surviving spouse when one person dies; a unit refund annuity gives a lump payment if a person dies early. A life annuity with period certain continues to pay for a set time period if the person dies early.
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Many companies use social media to publish ________, in which they communicate directly with customers and other audiences, rather than going through news media outlets.
Many companies use social media to publish direct-to-consumer news releases in which they communicate directly with customers and other audiences, rather than going through news media outlets.
What is direct-to-consumer news releases ?
While businesses used to write news releases to share information with reporters, many now produce direct-to-consumer news releases in which they speak with customers and other audiences directly. Additionally more widespread, social media news releases have a number of benefits above conventional news releases.
Therefore,
Many companies use social media to publish direct-to-consumer news releases in which they communicate directly with customers and other audiences, rather than going through news media outlets.
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Attracting, contacting, and evaluating potential employees is easier when recruiting from external sources.
a. true
b. false
The correct option (a) True.
You run the risk of passing up the opportunity to hire individuals with novel abilities and concepts if you just use internal hiring. In light of this, using external recruitment will boost your ability to find qualified and experienced people.
What is Recruitment?Finding, vetting, recruiting, and eventually, onboarding qualified job prospects is the process of recruitment. The hiring process might be very simple, but the initial step—finding potential candidates—can be extremely difficult due to technological advancements, a competitive labor market, and a worker pool that may span five generations.
The hiring manager and other participants in the recruiting process support recruitment, which is an important aspect of human resource (HR) management. A company's bottom line may be significantly impacted by effective recruitment activities that make it stand out and more desirable to prospective employees.
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Regardless of quantity in long-run equilibrium, the industry price cannot exceed the?
An extremely large number of vendors, each of whom makes a comparable or same product, make up a competitive market.
The total of all these unique outputs, which each provider produces as a small portion of the market as a whole, represents the production of that industry.
A market that has just one supplier is considered a monopolist at the other extreme. Examples include the fact that the National Hockey League is the only provider of top-notch professional hockey matches in North America, Hydro Quebec is the province of Quebec's sole electricity supplier, and Via Rail is the only provider of passenger rail services between Windsor, Ontario, and the city of Quebec.
Equilibrium: What Is It?
When market supply and demand are in balance, prices become steady. This is known as equilibrium. In general, a surplus of goods or services leads to lower prices, which increases demand, whereas a shortfall or under supply raises prices, which decreases demand.
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The process of analyzing the tasks necessary for production of a product describes.
The process of analyzing the tasks necessary for the production of a product describes workflow design.
What exactly is a workflow design?
A workflow diagram, commonly referred to as a workflow, is a visual representation of the business process. The process demonstrates step-by-step how your job is accomplished from beginning to end using standardized symbols and forms. It also indicates who is in charge of the job at each stage of the process.
A thorough workflow analysis must be completed before designing a workflow because it can reveal any potential flaws. You may define, standardize, and pinpoint crucial sections of your process with the use of workflow analysis.
Workflows are also helpful for fostering more cohesion across various departments and for aiding staff in understanding their jobs and the sequence in which tasks must be done. Workflows are utilized in a wide range of industries nowadays and are simpler to construct than ever before. They were originally employed in the manufacturing sector.
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In the myers-briggs framework, elena is isfj. what would be the best job fit for her?
An accountant will be the best job fit for her.
What is the role of an accountant?Despite the fact that an accountant's day-to-day duties will vary based on their position and employer, some of their most usual jobs and obligations include:
ensuring that all financial records are correct and adhere to all relevant laws and regulations.
important financial reports and maintaining them.
ensuring that taxes are paid correctly and on time, as well as producing tax returns.
To identify best practices, identify issues and develop solutions, and support firms in operating efficiently, financial processes are evaluated.
offering suggestions for optimizing profit, boosting sales, and cutting costs.
making forecasts and risk assessment evaluations.
Law also mandates that accountants conduct themselves honestly and without negligence. Therefore, they are also in charge of ensuring that their customers' Financial documents adhere to all applicable laws and regulations.
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Accrued expenses are expenses incurred that are not yet paid or recorded. An adjusting entry made to record an accrued expense.
Unpaid or unrecorded charges are referred to as accrued expenses. An adjusting entry used to document an incurred expense is a True Statement.
An expenditure that is recorded on the books before it has been paid is referred to as an accrued expense, also known as accrued liabilities. In the accounting period in which it is incurred, the expenditure is recorded.
The most frequently incurred expenditures that businesses owe are salaries, rent, and interest. On the other side, accounts payable represent money owed to creditors, such as suppliers for products and services that were financed. Accrued expenses frequently arise on a regular basis, such as rent and loan interest payments.
Accrued expenses are expenses incurred that are not yet paid or recorded. An adjusting entry made to record an accrued expense. Please select the right option: True/False
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The means by which individuals hold their claims on real assets in a well-developed economy are.
Answer:Financial assets
Explanation:
Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is:______.
Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is Strategic Management.
Strategic Management is the most widely recognized approach to spreading out goals, frameworks, and focuses to make an association or affiliation more serious. Consistently, the fundamental organization looks at effectively passing staff and resources on to achieve these targets.
In business, it is critical because it allows an association to look at districts for useful improvement. Generally speaking, they can understand either a consistent connection, which recognizes likely risks and opens entryways, or simply notice essential standards.
An association could choose to follow either a prescriptive or elucidating method for managing the executives. Under a prescriptive model, frameworks are delineated for development and execution. On the other hand, an elucidating model portrays how an association can cultivate these frameworks.
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A house has been on the market for several months because most buyers do not want to walk through the master bedroom from the garage to reach the kitchen. this floor plan is an example of:_______
A house has been on the market for several months as most buyers do not want to walk through the master bedroom from the garage to reach the kitchen. So this floor plan is an example of functional obsolescence.
Functional obsolescence is regarded as a reduction of an object's desirability or usefulness because of an outdated design feature which now cannot be changed easily. Thus, various efforts have been made over the past few years in order to objectively quantify the effect of functional obsolescence in real estate.
So here, a house for several months has been on the market as most of the buyers do not want to buy it. As the house is not built in a convenient way. So this floor plan is an example of functional obsolescence.
Hence, functional obsolescence is most often the result of new technology, in recent decades.
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everything a consumer must surrender to obtain the benefits of possessing or using a product is known as
Consumer cost is everything a consumer must surrender to obtain the benefits of possessing or using the product.
Consumer cost is a variable or a concept that entirely encompasses the price of the commodity along with the purchase costs, use costs, and post-use costs. Purchase costs comprise the cost of finding the product, garnering information about it, and the expenses incurred in obtaining the information. Use costs are the costs incurred on goods that require resources. Post-use costs denote the costs for collecting, storing, and disposing of the product once the item has been discarded.
Price is only one component of the total cost a consumer has to endure. The consumer has to cover the additional costs of transportation, usage, and disposal of the product. All these costs together constitute the consumer cost.
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Mark each of the following statements, regarding the wto, as true or false. if false, correct the statement. ______ the wto was formed by countries that conduct the majority of international trade.
The statement that the WTO was formed by countries that conduct the majority of international trade is TRUE.
Who formed the World Trade Organization?The World Trade Organization (WTO) was established by 123 nations around the world in 1994 with the signing of the Marrakesh Agreement.
The World Trade Organization was able to become so influential in regulating trade because these 123 nations were the major players in international trade.
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What word best describes how miss hepzibah pyncheon feels about serving her first customer?
Distressed sums up Miss Hepzibah Pyncheon's feelings toward servicing her first client the best.
What is Distressed?Being very stressed out or having trouble.
How could Miss Hepzibah Pyncheon not be impatient and curious?She could not have been interested since she was not wondering anything, and she could not have been eager because she was not waiting for anything or anyone.
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To communicate to consumers that its products are both healthy and delicious, red mango would use which of the 4 ps?
To communicate to consumers that its products are both healthy and delicious, red mango would use promotion of the 4 P's.
What are the 4 P's?To successfully advertise a good or service, the four Ps are the main factors that must be carefully thought out and put into practice.The marketing mix's four Ps are product, price, promotion, and place.Place is the location where customers find or buy your product.Price is used to describe how much a good or service will cost. Analysis of the market, the supply and demand, the cost of production, and consumer willingness to pay are all important factors in setting a fair price for a product.Depending on the type of business and what they do best, a firm will offer a certain product.Promotion is the term for targeted and considerate advertising that reaches the intended audience for the product.Learn more about marketing mix here:
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According to douglas mcgregor, the classical perspective on management was based on __________ assumptions about workers.
According to douglas mcgregor, the classical perspective on management was based on Theory X assumptions about workers.
What is Theory X?
According to Theory X, people despise their jobs, lack motivation, and are hesitant to accept accountability. This presumption leads managers to drive their workforce using a rigorous "carrot and stick" strategy that rewards superior performance and penalizes subpar performance. Theories of human labor motivation and management include Theory X and Theory Y. They were invented by Douglas McGregor in the 1950s while he was a faculty member at the MIT Sloan School of Management, and they underwent further development in the 1960s.
Therefore,
According to douglas mcgregor, the classical perspective on management was based on Theory X assumptions about workers.
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The total income of everyone in the economy adjusted for the level of base year prices is called:_________
It is known as inflation to adjust everyone's total income for the level of prices in the base year.
Inflation measures how much the prices of various goods and services have risen over a period of time usually a year. Price increases, or inflation, can be thought of as the gradual loss of purchasing power. The average price increase of a selection of products and services over time can serve as a proxy for the rate at which buying power declines. A unit of currency effectively buys less as a result of the increase in pricing, which is sometimes stated as a percentage. Deflation, which happens when prices fall and buying power rises, can be compared to inflation.
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Can saas provide any combinations of functions depending on customer's exact needs?
Depending on a client's precise requirements, the might offer any mix of tasks, including, for instance, monitoring, storage, applications, and virtual desktops. services created online or on a company's own servers in its own data center for that company's personal usage.
What is SaaS?SaaS, usually referred to as cloud-based software, is now widely used. One of the top three emerging technology investment areas, according to nearly half (48%) of respondents to Gartner's 2021 Emerging Technology Product Leader Survey who are investing in data and analytics, is cloud-based software.
And with good cause. Web-based business apps are paid for on an hourly basis rather than all at once and don't require difficult installations or binding contracts. The systems are typically more adaptable and cost-effective due to this.
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It is safe to assume that fraud has not occurred if one or more elements of the fraud triangle cannot be observed. a. true b. false
TRUE, It is safe to assume that fraud has not occurred if one or more elements of the fraud triangle cannot be observed.
A triangle is a polygon with three edges and three vertices. it's far one of the fundamental shapes in geometry. A triangle with vertices A, B, and C is denoted triangle ABC. In Euclidean geometry, any three points, while non-collinear, determine a unique triangle and simultaneously, a completely unique plane.
Triangles are shapes with 3 sides. There are different names for the sorts of triangles. A triangle's type depends at the length of its sides and the size of its angles (corners). There are three styles of triangle based at the period of the perimeters: equilateral, isosceles, and scalene.
In Geometry, a triangle is a 3-sided polygon that consists of 3 edges and 3 vertices. The maximum crucial property of a triangle is that the sum of the internal angles of a triangle is equal to one hundred eighty tiers. This property is known as attitude sum property of triangle.
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The difference between the entries to record depreciation on office equipment and depreciation on factory equipment is that one?
The difference between the entries to record depreciation on office equipment and depreciation on factory equipment is that one: debits Depreciation expense, while the other debits MOH
What is difference between depreciation of office equipment and factory equipment?
It should be noted that factory equipment is asset that is used in the factory, which means that its depreciation should be shown under the manufacturing overhead(MOH) even though does not reflect directly in the goods manufactured, needs to be incurred to in course of manufacturing.
However, for the depreciation on office equipment which is an administrative asset, the accumulated depreciation on office equipment is credited(a contra account in the balance sheet) such that the depreciation expense is debited in the income statement, in essence, one relates to production and the other to administration.
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A brand new business-to-business purchase that is complex or risky and that requires extensive decision making is called:__________
A brand new enterprise-to-business buy this is complex or risky and that requires sizeable decision-making is called: New venture buy.
A brand is a call, term, layout, symbol, or any other function that distinguishes one dealer's top or carrier from the ones of different dealers. certainly put, your emblem is your promise to your client. It tells them what they could count on from your products and services, and it differentiates your providing from that of your competition. Your logo is derived from who you're, who you want to be, and who humans understand you to be.
A corporation's brand is its identity, and it's miles one of the most valued parts of the business. The emblem is what consumers apprehend and competition worry about. company branding is an essential part of marketing an organization's products.
A brand is an intangible advertising or business idea that facilitates humans to pick out a business enterprise, product, or character. people often confuse brands with things like logos, slogans, or other recognizable marks, which are advertising tools that assist promote items and offerings.
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If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to?
If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to Triple taxation.
What is taxation?
A tax is a mandatory financial charge or other type of levy that is levied against a taxpayer by a government agency in order to pay for government expenses and other public expenditures. The main goal of taxation is to raise money for the services that the community needs and to support the community's needs.
Therefore,
If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to Triple taxation.
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Norbert company debits accounts receivable and credits service revenue. as a result of this adjusting entry, norbert company's:______.
Norbert company debits accounts receivable and credits service revenue. as a result of this adjusting entry, Norbert company's assets increase
equity increases.
The whole assets of a enterprise are same to the sum of its liabilities and shareholders' equity, in line with the accounting equation.The primary concept behind the double-entry accounting system is that property, liabilities, and equity have a clean courting with one another. The stability sheet is kept in stability thanks to the accounting equation. In other words, every debit access has a corresponding credit access (or insurance) on the other aspect of the ledger.The balance sheet equation or fundamental accounting equation are different names for the accounting equation.The double-access accounting machine is notion to be built upon the accounting equation.according to the accounting components, a organisation's total property are identical to the sum of its liabilities and shareholders' fairness on its stability sheet.The organization's giant resources are represented with the aid of its property. Their obligations are represented by way of the liabilities.Liabilities and shareholders' equity both display how a corporation finances its belongings. Debt funding is displayed as a legal responsibility, while fairness financing is displayed as shareholders' fairness.To learn more about assets and equity increases visit:https://brainly.com/question/1357713
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In most markets, _____ is determined by the interactions of numerous buyers and sellers.
Buyers and sellers interact in a market to exchange commodities, services, or resources. Prices and trade volume are mostly influenced by how buyers and sellers interact in a "market."
The buyer-seller interaction process is viewed as a transaction in and of itself, with potential for numerous outcomes. The buyer-seller interaction, which is compared to the effect of advertising, is assumed to carry out any of the following five functions: raise awareness of each other's expectations about the product or service; remind each other of past successful transactions and their behavioral outcomes; reinforce each other's behavior related to the sale of the product or service; prompt behavioral actions on each other's parts by intensifying expectations; and persuade each other.
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When calculating free cash flows to common equity shareholders, financing activities do not include?
When calculating free cash flows to common equity shareholders financing activities do not include: Adjustments for capital expenditures
Why free cash flow is important?
Free cash flow is important to investors and business analysts as it tells how much cash your company has at its disposal. They often assess your free cash flow to assume whether your company has sufficient cash to repay debts, issue dividends and buy back shares.
What affects free cash flow?
The company's net income greatly impact on a company's free cash flow by influencing a company's ability to produce cash from operations.
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Using the taylor rule, if the current inflation rate equals the target inflation rate and real gdp equals potential gdp, then the federal funds target rate equals the?
Using Taylor's rule, if the current inflation rate equals the target inflation rate and real GDP equals potential GDP, then the target federal funds rate equals the current inflation rate plus the real equilibrium federal funds rate.
Inflation can be defined as an increase in prices, which can be translated as a decrease in purchasing power over time. The rate of decline in people's purchasing power can be reflected in the increase in the average price of a selected basket of goods and services over a period of time. An increase in price, which is often expressed as a percentage, means that one unit of currency is effectively buying less than it did in the previous period. Inflation can be contrasted with deflation, which occurs when prices fall and people's purchasing power increases.
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There is such a wide variety of desired goods and services in a market system because?
Due to the diversity of individual desires, there are many different sought commodities and services in a market economy.
What is a market economy?Any methodical procedure allowing numerous market participants to supply and demand: assisting buyers and sellers in interacting and closing deals—is referred to as a market system (or market ecosystem). It is not simply the price mechanism that surrounds it and enables it to function in a social context; it is also the full system of regulation, qualification, credentials, and clearing. Some writers particularly allude to the free market system when they use the term "market system." This article focuses on the term's broader definition, which holds that there are numerous distinct market systems.
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A legal firm has a retainer with a financial services firm to provide legal counsel and other services to the company. this is an example of:_________
A legal firm has a retainer with a financial services firm to provide legal counsel and other services to the company. This is an example of a complementary partner.
A complimentary partnership is what?
Each participating business has its own clientele and marketing methods. You can each push messages to your respective audiences that advertise your partner's business through a complimentary alliance.
Developing complementary alliances is one of the keys to realizing your potential and succeeding.
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In a pure command economy, the prices at which goods and services are sold are planned by the.
In a pure command economy, the prices at which goods and services are sold are planned by the Government .
What is Pure Command Economy ?
There is no private sector in a command economy because all companies are owned by or under the supervision of the central government.
Government officials establish national economic priorities in a command economy, such as when and how to promote economic growth, how to share resources, and how to disperse the produce. Supply and demand factors, which determine what, how much, and at what price goods and services should be produced, are not allowed under a command economy.
Instead, all economic activity are planned, coordinated, and under the direction of a single government, which discourages market competition.
Most nations today do not have a fully-commanding or free-market economy. They have a mix of privately owned businesses and government-run ones (this is called a mixed economy). However, Belarus, Cuba, and North Korea are closest to having command economies.
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