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1. Internal controls are a set of procedures adopted by an organization primarily to check frauds and errors and increase operational efficiency.Consider the aspects of internal control and respond to the following:List ten internal controls that an organization should have over the collection of accounts receivable.2. Liquidity ratios determine an organization's ability to meet its short-term obligations. Some examples of liquidity ratios are current ratio, acid-test ratio, and days' sales in average receivables.Consider the various liquidity ratios and respond to the following:Discuss the importance of liquidity ratios in short-term financial decision making.
tower interiors has made the forecast of sales shown in the following table. also given is the probability of each
compute the number of orders placed in the month of january and cash collected in the month of april as details
How do you take a known dollar value such as $240.00, back out the sales taxes from the known values using the States sales tax
Prepare a flowchart documenting the sales/collection process for ELM Corporation
What are the ethical considerations in making subjective valuations of complex and exotic investments and such funds help assure investors that there will be adequate cash to pay the bonds at their maturity date.
At the beginning of 2011, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials; however, it paid for only $292,500. Explain how much inventory was requisitioned for use on jobs during 2011?
determine the rate variance, time variance, and total direct labor cost variance. discuss what might have caused these variances.
Budgeting involves computation of cash budget - which is also its minimum required cash balance. There is an outstanding loan of $2,000 on March 1. Prepare a cash budget for March, April, and May.
What would you tell Roger about his idea of discontinuing the products with losses and what other factors besides losses should be considered before discontinuing a product
IASB The Conceptual Framework for Financial Reporting, Chapter 4, paragraph 4.4(a): "An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity."
Multiple choice questions on annual compounding - The terminal value at the end of the 16 year period is closest.
Compare the tax consequences to the shareholder and the distributing corporation of the following three kinds of corporate distributions: ordinary dividends, stock redemptions, and complete liquidations.
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