"Doing homework" aligns with the step of gathering information and conducting research in the ethical decision-making process in business.
The advice given to Maggie to "do your homework" by her mentor aligns with the step of gathering information and conducting research in the sound ethical decision-making process in business.
This step involves a thorough exploration and understanding of the ethical dilemma or situation at hand.
By doing her homework, Maggie is encouraged to collect relevant facts, data, and information related to the ethical issue she is facing.
This includes understanding any applicable laws, regulations, company policies, and stakeholder perspectives.
By conducting diligent research, Maggie can gain insights into the potential consequences, ethical considerations, and available alternatives related to the decision she needs to make.
Doing her homework equips Maggie with the necessary knowledge and information to make an informed and ethical decision that takes into account the various dimensions of the situation.
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on january 1, 2019, miller corporation had retained earnings of $8,500,000. during 2019, miller reported net income of $1,440,000, declared dividends of $440,000, and issued common stock for $1,150,000. what were miller's retained earnings on december 31, 2019?
The answer is 9,500,000$ were miller's retained earnings on December 31, 2019 ,
Given that,
Beginning retained earnings = $8,500,000
Net income = $1,440,000
Dividend paid = $440,000
Revenues = $1,150,000
Ending retained earnings:
= Beginning retained earnings + Net income - Dividend paid
= $8,500,000 + $1,440,000 - $440,000
= $9,500,000
An illustration of a dividendA dividend payment made to shareholders in the form of additional shares rather than cash is known as a stock dividend. Per existing share, payouts are paid as fractions. For instance, a corporation will issue 0.05 shares for each share a shareholder owns if the stock dividend is 5%.
How Dividends Are Disbursed.A dividend is the transfer of a portion of a company's profits to a group of shareholders. A dividend check is typically used to pay dividends. They might, however, also be compensated with more equity shares.
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which food combination would be expected to produce the lowest glycemic index value?
The food combination that would be expected to produce the lowest glycemic index (GI) value is a meal consisting of high-fiber carbohydrates, healthy fats, and lean proteins.
The glycemic index is a measure of how quickly carbohydrates in food are digested and absorbed, causing a rise in blood sugar levels. Foods with a low GI value (55 or less) are digested and absorbed more slowly, resulting in a gradual and more stable increase in blood sugar levels.
Including high-fiber carbohydrates in a meal helps to slow down the digestion and absorption of carbohydrates, resulting in a lower glycemic response. Examples of high-fiber carbohydrates include whole grains, legumes, non-starchy vegetables, and fruits.
Adding healthy fats, such as those found in avocados, nuts, and olive oil, to the meal can further slow down digestion and reduce the glycemic response. Fats take longer to digest, resulting in a slower release of glucose into the bloodstream.
Incorporating lean proteins, such as skinless poultry, fish, tofu, or beans, can also help lower the glycemic index of a meal. Protein slows down the digestion of carbohydrates and contributes to a more gradual release of glucose.
By combining high-fiber carbohydrates, healthy fats, and lean proteins, the overall glycemic index of the meal can be lowered, resulting in a slower and more controlled increase in blood sugar levels. This can be beneficial for individuals seeking to manage their blood sugar levels, particularly those with diabetes or insulin resistance.
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A firm has four different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the end of two years, and $10 million at the end of three years. Option B will give the firm $5 million at the end of one year, $10 million at the end of two years, and $15 million at the end of three years. Option C will give the firm $15 million at the end of one year, $10 million at the end of two years, and $5 million at the end of three years. Option D will give the firm $21 million at the end of one year, nothing at the end of two years, and $9 million at the end of three years. Which of these options has the highest present value if the rate of interest is 5 percent
Answer:
The answer is "Option D".
Explanation:
Using the formula for calculating present value:
\(= \frac{Future \ value}{(1+r)^n}\\\\\)
that's why "Option D" is correct.
Two similarities of government and business office two similarities
Two similarities of government and business office two similarities are:
Rules and RegulationsHierarchical StructureWhat are the diffrences as well as the similarities?In term of Hierarchical Structure it can be deduced that government as well as business offices can be seen to posses hierarchical structure, which can be seen to have a command that can influence the authority as well as responsibilities of each level.
In term of Rules and Regulations it can be deduced that government as well as business offices do possses some rules as well as regulations which in the process of governing their operation.
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The presence of which magnetic feature best explains why a magnet can act at a distance on other magnets or on objects containing certain metals? fields dipoles domains forces.
The presence of "fields" magnetic feature best explains why a magnet can act at a distance on other magnets or on objects containing certain metals.
What is the term magnetic fields about?The magnetic forces exerted by the magnet can act at a distance on other magnets or on objects containing certain metals.
The magnetic fields showcase the presence of magnetic forces. The magnetic forces arise due to attraction and repulsion of the poles inside the material.
Moreover, Opposite poles attract each other while similar poles repel each other.
Therefore, correct option is A.
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Answer:
answer is A. fields
Explanation:
edge 2022 I took the test
FILL IN THE BLANK. _________ is when a firm's corporate office helps subsidiaries make wise choices in their own acquisitions, divestures, and new ventures.
A)Parenting
B)Restructuring
C)Leveraging core competencies
D)Increasing market power
"Parenting" is when a firm's corporate office helps subsidiaries make wise choices in their own acquisitions, divestitures, and new ventures.
Explanation:
What is meant by "parenting" in the context of management?
In the context of management, "parenting" is a model of business activity that occurs when a parent company oversees the management and operations of its subsidiaries. Parenting generally entails the provision of managerial assistance to subsidiaries, which includes assistance with the preparation of business strategies and objectives, acquisitions and dispositions, and new ventures. A corporate parent could be a business entity that controls a group of companies that are all subsidiaries or affiliates of the parent company.
Acquisitions, divestitures, and new ventures are some of the areas in which a corporate parent may have significant involvement. They can assist subsidiaries in making informed decisions by pooling resources, skill sets, and market knowledge to make effective acquisitions, sell non-core assets and divestures, and expand into new areas of the industry through new ventures.
Parenting is the perfect way to capitalize on synergies and leverage the core strengths of the subsidiaries to increase overall corporate success.
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the government passed the cares act to address the economic fallout of the covid-19 pandemic. which of these provisions were included in the legislation?
Many of these projects were sustained by the Consolidated Appropriations Act by include new phases, funds, and instructions to address problems associated to the ongoing COVID-19 outbreak.
What is cares act?The Coronavirus Aid, Relief, and Economic Security Act, popularly known as the CARES Act, is a $2.2 trillion economic stimulus package passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in reaction to the economic impact of the COVID sickness.
The Coronavirus Aid, Relief, and Economic Security Act (CARES) allowed for longer unemployment benefits for laid-off workers as well as direct payments to individuals, significant monthly rebates to families with children, and direct payments to people. From March 13, 2020, to December 30, 2020, it was in force.
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if james's marginal and average total costs are $8, and his firm is in a perfectly competitive industry, the industry will produce an output of _____ barrels. True or false?
True. In a perfectly competitive industry, firms produce at the point where marginal cost (MC) equals average total cost (ATC). Given that James's marginal and average total costs are both $8, his firm is in equilibrium.
In this situation, the industry will produce an output level where the market price is also equal to $8. This ensures that all firms in the industry, including James's, are maximizing their profits and producing the most efficient output.
The given information about James's costs does not provide enough information to determine the industry output level. The industry output level is determined by the intersection of the market demand and supply curves, not by an individual firm's costs. In a perfectly competitive industry, firms produce at the point where marginal cost (MC) equals average total cost (ATC). Given that James's marginal and average total costs are both $8, his firm is in equilibrium.
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the magnitude of operating leverage for perkins corporation is 4.5 when sales are $100,000. if sales increase to $110,000, profits would be expected to increase by what percent? a. 4.5% b.14.5% c.45% d.10%
It would be anticipated that the profit would rise by 45%. The appropriate response to the given question is option (c).
What is Operating Leverage?The percentage of a company's cost structure that is made up of fixed expenses as opposed to variable costs is measured by operating leverage. A corporation is said to have more operating leverage if its fixed expenses are higher than its variable costs.
Magnitude of operating leverage= 4.5
Old sales= $100000
New sales= $110000
Percentage increase in sales:
(New-old)/old = (110,000-100,000)/100,000
= 10%
Consequently, a percentage rise in profit might be anticipated:
sales percentage growth times the degree of operational leverage
= 10% * 4.5
= 45%
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You are working afa major Wall Street investment firm. Your first assignment is to calculate the beta of another company your firm is considering buying. The company has a cash flow of $1,000 per year and you believe this will continue at this level forever. To come up with a value to buy the company, your firm is using a risk-free rate of 6% and the expected return of the market is 16%. Currently the investment analysis team is using a beta of 0.5 to value the company. But after 2 months of doing your own research, you have determined that the true beta should be 1.0. How much more will your firm pay for the company than what it is truly worth?
The company is overvalued by 9,090.91 - 6,250 = 2,840.91, which is how much more the firm will pay for the company than what it is truly worth. Beta is a measure of the degree of systematic risk associated with the investment as compared to the market. It can be defined as a measure of an investment's volatility, in relation to the market as a whole.
The beta for the company is 0.5, but after 2 months of doing own research, it has been determined that the true beta should be 1.0.
Given, Cash flow = 1,000 per year
Risk-free rate = 6%
Expected return of the market = 16%
First, we need to calculate the cost of equity using the Capital Asset Pricing Model (CAPM):
Cost of Equity = Risk-Free Rate + Beta (Market Risk Premium)
Market Risk Premium = Expected return of the market - Risk-Free Rate
Market Risk Premium = 16% - 6% = 10%
Therefore, Cost of Equity = 6% + 0.5 (10%) = 11% or
Cost of Equity = 6% + 1 (10%) = 16%
Then, we need to calculate the value of the company using the perpetuity formula:
V = Cash Flow / Cost of Equity
If beta is 0.5, the value of the company = 1000 / 11% = 9,090.91
If beta is 1.0, the value of the company = 1000 / 16% = 6,250
So, the company is overvalued by 9,090.91 - 6,250 = 2,840.91, which is how much more the firm will pay for the company than what it is truly worth.
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The difference in firm valuation due to using the incorrect beta can be calculated by subtracting the present value obtained with the correct beta from the present value obtained with the incorrect beta.
To calculate the value your firm is willing to pay for the company, we can use the formula for the present value of perpetuity:
PV = CF / (r - g)
PV represents the present value, CF is the cash flow ($1,000), r is the discount rate (expected return of the market, 16%), and g is the growth rate of the cash flow (which is assumed to be zero in this case, as the cash flow is expected to remain at $1,000 forever).
Using the beta of 0.5, your firm calculated a discount rate of 11% (risk-free rate + beta * (expected return of the market - risk-free rate)). Now, if we use the correct beta of 1.0, the discount rate would be 16% (risk-free rate + beta * (expected return of the market - risk-free rate)).
Plugging these values into the formula, we can calculate the value your firm would pay for the company using both the incorrect and correct betas. The difference between these two values represents how much more your firm would pay for the company than it is truly worth.
It's important to note that without knowing the actual duration of the perpetuity, we cannot provide an exact value. However, we can calculate the difference between the two values based on the given information.
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Smithward. Inc. Manufactures reusable water bottles. It targets its marketing campaigns at different market ________, including outdoor enthusiasts, health-conscious buyers, and young people who want the current fashion accessory.
Answer:
ANSWER;- (C) segments
Explanation:
EXPLAINATION;- In market segment there are customers who have similar things in common etc...
Smith Inc. Manufactures reusable water bottles. It targets its marketing campaigns at different market segments including outdoor enthusiasts, health-conscious buyers.
What is Market segmentation?In marketing, market segmentation is the most common way of partitioning a wide buyer or business market, regularly comprising of existing and likely clients, into sub-gatherings of purchasers.
In isolating or fragmenting markets, specialists normally search for normal qualities like shared needs, normal interests, comparative ways of life, or even comparative segment profiles. The general point of segmentation is to distinguish high return portions - that is, those sections that are probably going to be the most productive or that have development potential.
So that these can be chosen for extraordinary consideration (for example become target markets). Various ways of sectioning a market have been distinguished Market segmentation expects that different market sections require different marketing programs - that is, various offers, costs, advancement, appropriation, or a mix of marketing factors.
Market segmentation isn't simply intended to recognize the most beneficial portions, yet additionally to foster profiles of key sections to more readily grasp their necessities and buy inspirations. That is, a market is sectioned, at least one fragments are chosen for focusing on, and items or administrations are situated in a manner that resounds with the chose target market or markets.
Therefore Market segmentation is the most common way of sharing mass markets into bunches with comparative necessities and needs.
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Why are economic systems needed? Respond to the question below with a minimum of 5 sentences.
Answer:
Explanation:Since economic resources are scarce, they must be used efficiently. We want to produce as much goods and services as we can, and in the process, produce the goods and services needed the most. There are five functions an economic system performs in producing goods and services for consumption.
Can I please get help with this???? I’m not sure if the two are right or not. Please help me!!!!
Answer:
I think the two you have are correct the second one is Chain restaurants i think
third one Franchise restaurants fourth one One location restaurants
Explanation:
turtle corporation is a calendar year c corporation formed in 2017. turtle purchased a motel property in june 2022 for $11,000,000. the motel land value represented $2,500,000 of the $11,000,000 purchase price. what is the allowable depreciation deductions on the hotel for 2022 and 2023?
The turtle corporation is a calendar year corporation formed --------. The allowable depreciation deductions on the hotel for 2022 and 2023 will be $167,450 in 2022 and $309.060 in 2023.
What is depreciation?The depreciation is defined as the reduction of the recorded cost of a fixed asset in a systematic manner until the value of the asset becomes zero or negligible.
The depreciation allows a portion of the cost of a fixed asset to the revenue generated by the fixed asset. It is the wear and tear loss of an asset.
The turtle corporation is a calendar year corporation formed --------. The allowable depreciation deductions on the hotel for 2022 and 2023 will be $167,450 in 2022 and $309.060 in 2023.
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Which sentence best describe what happened to the total mass of the sealed jar after the nail rusted and select the answer that best match your think Explain what happens to the mass before and after the nail rusted Nails in a Jar Jake put a handful of wet, iron nails in a glass jar. He tightly. closed the lid and set the jar aside. After a few weeks, he noticed that the nails inside the jar were rusty. Which sentence best describes what happened to the total mass of the sealed jar after the nails rusted? A The mass of the jar and its contents increased. B The mass of the jar and its contents decreased. C The mass of the jar and its contents stayed the same.
The sentence that best describes what happened to the total mass of the sealed jar after the nails rusted is: The mass of the jar and its contents stayed the same.
Before the nail rusted: The total mass of the sealed jar included the wet iron nails and the air inside the jar. The mass was unchanged as the nails and air had not gone through any chemical reaction.
After the nail rusted: Rusting is a process of oxidation that occurs in metals containing iron when they react with water and oxygen in the air. When the nail rusted inside the sealed jar, it combined with oxygen from the air and created rust.
The mass of the jar remained the same even after the nail rusted because the mass lost by the nail through rusting was gained by the jar.
Therefore, the overall mass of the jar and its contents remained the same.
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Strait Co. manufactures office furniture. During the most productive month of the year, 3,200 desks were manufactured at a total cost of $83,900. In the month of lowest production, the company made 1,290 desks at a cost of $58,200. Using the high-low method of cost estimation, total fixed costs are
Using the high-low method of cost estimation, the total fixed costs for Strait Co. are approximately $44,078.40.
Using the high-low method of cost estimation, we can determine the fixed costs of Strait Co. by analyzing the difference in production levels and costs between the highest and lowest months.
To calculate the fixed costs, we need to determine the variable cost per unit first. This can be done by finding the difference in total costs between the highest and lowest months, and then dividing it by the difference in production levels.
Let's calculate the variable cost per unit:
Variable cost per unit = (Total cost in highest month - Total cost in lowest month) / (Production in highest month - Production in lowest month)
Variable cost per unit = ($83,900 - $58,200) / (3,200 - 1,290)
Variable cost per unit = $25,700 / 1,910
Variable cost per unit ≈ $13.46
Now that we have the variable cost per unit, we can calculate the fixed costs by subtracting the variable costs from the total costs in any given month.
Let's use the data from the highest month:
Total costs = Fixed costs + (Variable cost per unit × Production)
$83,900 = Fixed costs + ($13.46 × 3,200)
Fixed costs = $83,900 - ($13.46 × 3,200)
Fixed costs ≈ $44,078.40
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when pga and lpga, golf tours, joined together in a strategic alliance, which of the following best explains the potential advantage? group of answer choices entering new markets increasing administrative costs in the value chain development and diffusing new technologies reducing costs in the value chain
When the PGA and LPGA golf tours joined together in a strategic alliance, the potential advantage was reducing costs in the value chain. Therefore, correct option is reducing costs in the value chain.
What is PGA and LPGA golf tours?The strategic alliance between the Professional Golfers Association (PGA) and the Ladies Professional Golf Association (LPGA) was formed to join forces and promote growth in golf around the world. The purpose of this alliance was to promote the game of golf and to share ideas and resources.
The potential advantage of the strategic alliance between the PGA and LPGA golf tours is that it could reduce costs in the value chain. The value chain is the sequence of activities that a business must undertake to create value for its customers. These activities are divided into primary and support activities. Reducing the cost of these activities can help to lower the overall cost of producing a product or providing a service. It can also help to increase the profit margin and competitiveness of the business by offering its products or services at a lower price.
Reducing costs in the value chain can be achieved in many ways. For example, it could involve reducing the cost of raw materials or reducing the cost of production. It could also involve reducing the cost of distribution or reducing the cost of marketing. In the case of the strategic alliance between the PGA and LPGA golf tours, the potential advantage of reducing costs in the value chain could be achieved by sharing resources and reducing the cost of marketing and distribution.
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A new equipment requires an investment of $130,000 to generate an income of $20,000 for the first 3 years, thereafter, increasing by $10,000 for the remaining life of 10 years. To recover the investment under a no-return payback condition it will take:
To recover the investment under a no-return payback condition, it will take 6 years.
The payback period is a financial metric used to determine how long it takes to recover the initial investment in a project or equipment. In this case, the investment for the new equipment is $130,000, and the income generated is $20,000 for the first 3 years, increasing by $10,000 for the remaining 10 years.
To calculate the payback period, we need to determine when the total cumulative income equals or exceeds the initial investment. For the first 3 years, the total income generated would be $20,000 per year, resulting in a cumulative income of $60,000. We subtract this from the initial investment of $130,000, leaving a remaining amount of $70,000.
Since the income increases by $10,000 per year for the remaining 10 years, it will take an additional 7 years to accumulate $70,000. Therefore, the total payback period would be 3 years + 7 years = 10 years.
However, since we are looking for the payback period under a no-return condition, where no income is generated after recovering the investment, we subtract the additional 7 years from the total payback period. Hence, the final payback period under a no-return condition is 10 years - 7 years = 6 years.
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Winston Washers's stock price is $75 per share. Winston has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $3 billion in long term debt, and $6 billion in common equity. It has 800 million shares of common stock outstanding. hat is Winston's market/book ratio?
Winston's market/book ratio is 10. To find Winston's market/book ratio, calculate its market value and book value per share. Market value per share is the current price ratio, which is $75 in this case.
The market value of Winston's common equity is $75 * 800 million = $60 billion. Book value per share is the common equity divided by the number of shares outstanding.
The common equity is given as $6 billion, so the book value per share is $6 billion / 800 million = $7.50. Finally, the market/book ratio is the market value per share divided by the book value per share. So, the ratio is $75 / $7.50 = 10.
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Mary invested $200 for 3 years at 5% per annum. John invested $300
at the same rate. If they both received the same amount of money in
simple interest, for how many years did John invest his money?
a. 1 1/2
b. 2
c. 3
d. 10
Answer:
b. 2
Explanation:
Simple interest is calculated using the formula
I = p x r x t
Where p= principal amount
r= interest rate
t= time in years
Mary invested $200, at 5% for three years. She earned a simple interest of;
I= $200 x 5/100 x 3
=$200 x 0.05 x 3
=$30
If John received the same amounts, It means
$30= $300 x 0.05 x t
$30 = $15t
t= $30/$15
t=2
Time is 2 years
Econ Phones Co. economists look at historical data to determine the cross price elasticity of demand between the price of the Econ Phones Co. smartphone and the quantity demanded for Econ Co. tablet. They find the cross-price elasticity of demand is a positive 1.5. Show all work and calculations. a. What does the sign of the coefficient (positive or negative) for the cross price elasticity of demand suggest (type of relationship relevant to cross price elasticity)? b. If the Econ smartphone decreases it price from $600 to $550, by what percent should quantity demanded for Econ Co. tablet change? c. Does quantity demanded go up or down (for the Econ Co. tablet)?
The positive sign of the coefficient for the cross price elasticity of demand suggests a positive relationship between the price of the Econ Phones Co. smartphone and the quantity demanded for the Econ Co.
tablet. This means that an increase in the price of the smartphone would lead to an increase in the quantity demanded for the tablet, and a decrease in the price of the smartphone would lead to a decrease in the quantity demanded for the tablet.
b. To calculate the percentage change in the quantity demanded for the Econ Co. tablet, we can use the formula:
Percentage change in quantity demanded = Cross price elasticity of demand * Percentage change in price
Given that the cross price elasticity of demand is 1.5 and the price of the smartphone decreases from $600 to $550, we can calculate the percentage change in price as:
Percentage change in price = (New price - Old price) / Old price * 100
Percentage change in price = ($550 - $600) / $600 * 100
Percentage change in price = -50 / $600 * 100
Percentage change in price = -8.33% (rounded to two decimal places)
Now, we can calculate the percentage change in the quantity demanded for the tablet as:
Percentage change in quantity demanded = 1.5 * (-8.33%)
Percentage change in quantity demanded = -12.5%
Therefore, the quantity demanded for the Econ Co. tablet should decrease by 12.5% when the price of the Econ Phones Co. smartphone decreases from $600 to $550. The quantity demanded for the Econ Co. tablet would go down when the price of the Econ Phones Co. smartphone decreases.
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Which of the following might experience a factor of failure related to expansion?
A. A hair salon that hires new employees immediately after it opens
B. A restaurant that doesn't have a website
C. A shoe store located near another popular shoe store
D. A grocery store with employees who miss company meetings
Answer:
a
Explanation:
cggm nauseousness hfff fallen
6 major jobs of the federal reserve
clearing checks
acting as government fiscal agent
supervising members bankers
regulate money supply
supply paper currency
setting reserve requirements
For purposes of computing the weighted average number of shares outstanding during the year, a transaction that must be treated as if it occurred at the beginning of the year is:
Answer:
The answer is option d. 367,500.
Determine the weighted-average number of shares outstanding as of December 31, 2018.
Nick spent $25 for a meal at a local restaurant. Which sectors are affected with this transaction.
Answer: Chipotle Mexican Grill Inc. agreed to pay a $25 million criminal fine, the largest ever in a food safety case, to resolve criminal charges
Explanation:
How does the rate of a proportional tax change with income?
Answer:
same
Explanation:
Proportional tax, also referred to as a flat tax, affects low-, middle-, and high-income earners relatively equally. They all pay the same tax rate, regardless of income.
After making a decision, you still have to _____. a. Celebrate your effectiveness b. List your available resources c. Implement a plan of action d. Discuss your possible outcomes Please select the best answer from the choices provided A B C D
Answer:
c. Implement a plan of action.
Explanation:
You already made your decision, so you've already considered all the outcomes and checked whether you have the resources needed for this. So the only thing left to do is to implement the plan of action
Answer:
It is C
Explanation:
edge 2021
all of the following are known benefits to valuing diversity except: group of answer choices workgroup performance increased ability to adapt customer and supplier relationships increased shareholder value ability to attract and retain good workers
All of the given options are known benefits of valuing diversity except increased shareholder value. Therefore, the correct option is option 3.
There are several known benefits to valuing diversity such as increased workgroup performance, ability to adapt customer and supplier relationships, and to attract and retain good workers. The benefit which is not a direct benefit of diversity is increased shareholder value.
While valuing diversity can have indirect positive effects on shareholder value through improved workgroup performance, better relationships, and employee attraction and retention as these factor contribute to company's success and in turn enhanced shareholder value, it is not a direct benefit of valuing diversity itself. Diversity does not directly influence the shareholders. Hence, the correct answer is option 3: increased shareholder value.
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Outline ways in which the productivity of land can be improved
getting better rest, meditation, exercise, hydration, mental focus exercises like military box breathing, and good nutrition just to name a few. it depends on the caause of lack of productivity.
if you cant focus well, a fidget toy may help. if your sluggish, better rest may help. and if your depressed meditation may help. i hope THIS helped!
tott company has the following internal control procedures over cash disbursements. identify the internal control principle that is applicable to each procedure. (a) company checks are prenumbered. select the principle of internal control (b) the bank statement is reconciled monthly by an internal auditor. select the principle of internal control (c) blank checks are stored in a safe in the treasurer's office. select the principle of internal control (d) only the treasurer or assistant treasurer may sign checks. select the principle of internal control (e) check-signers are not allowed to record cash disbursement transactions.
The internal control principle that is applicable to the blank checks are stored in safe in treasurer's office is physical control.
Who is a treasurer?An organization's treasurer is in charge of managing its finances. Cash and liquidity management, risk management, and corporate finance are among a corporate treasurer's important primary responsibilities. The treasurer would also be a member of the committee that would supervise how the funds are used, either by directly directing expenditure or by approving it as necessary. They are accountable for making sure the business has enough funds to accomplish its declared goals and objectives while avoiding excessive or inefficient spending. They also provide a financial status report to the board of directors and/or the public membership to guarantee checks and balances. All transactions must have a clear audit trail, which requires keeping accurate records and supporting documentation at a suitable degree of detail.
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