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Question: 1. Internal controls are policies and procedures to safeguard business assets, ensure employees are complying with laws and regulations, and ensure the accuracy of financial information. In your surrounding area (e.g., work, home, school, etc.) what are some examples of internal controls?
2. Why do you think the controls are effective or ineffective?
3. What are the similarities and differences between employment tax withholdings and employer payroll taxes?
4. What problems could arise if a business has a ineffective payroll system?
There is no provision for the renewal of the lease or purchase of the machine by the lessee at the expiration of the lease term. Hooke paid n$ 30000 of commissions associated with negotiating the lease in Feb 2011
You bought a stock one year ago for $51.34 per share and sold it today for $57.68 per share. What was your realized return
Once the convergence of US GAAP and IFRS has been completed, should US companies restatement their financials for a better comparsion for prior years? Why/why not?
Address the following: What is the ethical issue? What are the options? What are the potential consequences? What should Green do?
Betty's Bunny Barn has experienced a $40,000 loss due to tornado damage to their inventory. Tornados have never before occurred in this area. Assuming that the company's tax rate is 30%, what amount will be reported for this loss on the income sta..
On a recent trip to Africa, J. T. Brown, sales manager of Prompt Technology, took his wife along at company expense. Linda White, vice president of sales.
Orinoco levies property taxes in the amount of $ 2,000,000. Experience shows that 3 percent of the amount levied will not be collected for various reasons, including appeals of tax assessments.
Justin and Juna, ages 44 and 38, are married and file a joint return. In addition to having THREE dependent children. What is their taxable income for 2013?
every single transaction we engage in must be entered into the accounting equation.what is the accounting
If a company factors its receivables, what percentage of the value of the receivables can it expect to receive from the factor in the form of cash.
cortino company is planning to add a new product to its line. to manufacture this product the company needs to buy a
Life.com issued $10 million of commercial paper on April 1 on a nine-month note. Interest was discounted at issuance at a 6% discount rate. What is the effective interest rate on the commercial paper?
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