The first step in checking for arithmetic errors when two column totals are not in balance is to check for simple mistakes, such as transposing digits or misreading numbers.
What is the first step in checking for arithmetic errors when two column totals are not in balance?The first step in checking for arithmetic errors when two column totals are not in balance is to check for simple mistakes, such as transposing digits or misreading numbers. This is because simple mistakes are the most common type of error when doing arithmetic. If the column totals are still not in balance, then more complex mistakes, such as incorrect additions or subtractions, may be the cause.
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while not all life insurance policies are the same, which of the following types of life insurance policies do not have a savings feature: a. term life b. whole life c. variable life d. Universal e.both variable life and universal life
Among the given life insurances Term life insurance does not have a savings feature.
A type of life insurance known as "term life insurance" offers protection for a predetermined number of months or years, or "a term." In the tragic event that the insured passes away during the policy term, this sort of life insurance offers a financial benefit to the nominee.
Anyone who has dependents on their income ought to purchase a term insurance policy. Included in this are married couples, parents, business owners and independent contractors, SIP investors, young professionals with dependent parents, and in some cases, retirees, acquire a cash value as there is no investment component in the policy
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As described in the ten axioms for success, what issue is considered as being vital to promote trust as project managers from the perspective of know your team?.
Project managers need to motivate people to make wise decisions and share a common vision.
What are the works of Project managers?Planning and project management are managers' primary responsibilities. conforming to predefined reporting structures while leveraging any delegation and project assurance roles. Plans for the project, the stage, and the exception should be made and updated as necessary. Developing back-up plans is part of controlling project risks.
Project management is the practice of overseeing a team's activity to fulfill all project objectives within the predetermined constraints. The project documentation that is made at the start of the development process typically include explanations of these data. The three main ones are those related to scope, time, and budget.
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The following are internal controls related to various cycles.
1. Sales invoices are matched with shipping documents by the computer system and an exception report is generated.
2. Receiving reports are prenumbered and accounted for on a daily basis.
3. Sales invoices are independently verified before being sent to customers.
4. Payments by check are received in the mail by the receptionist, who lists the checks and restrictively endorses them.
5. Labor hours for payroll are reviewed for reasonableness by the computer system.
6. Checks are signed by the company president, who compares the checks with the underlying supporting documents.
7. Unmatched shipping documents are accounted for on a daily basis.
8. The computer system verifies that all payroll payments have a valid employee identification number assigned by the human resources department at the time of hiring.
9. The accounts receivable master file is reconciled to the general ledger on a monthly basis.
1. Sales invoices are matched with shipping documents by the computer system and an exception report is generated.
Specific control activity: Adequate documents and records
Transaction-related management assertion: Occurrence
Explanation: An exception report is generated to match sales invoice with shipping documents by the computer system to ensure adequate documentation and records
2. Receiving reports are prenumbered and accounted for on a daily basis.
Specific control activity: Adequate documents and records
Transaction-related management assertion: Completeness and Timing
Explanation: On a daily basis reports are recorded to checks completeness and timing
3. Sales invoices are independently verified before being sent to customers.
Specific control activity: Independent check on performance
Transaction-related management assertion: Accuracy
Explanation: Independent check on performance of the sales invoices before being sent to customers to ensure accuracy
4. Payments by check are received in the mail by the receptionist, who lists the checks and restrictively endorses them.
Specific control activity: Separation of duties
Transaction-related management assertion: Completeness
Explanation: Separation of duties to ensure completeness of assigned tasks
5. Labor hours for payroll are reviewed for reasonableness by the computer system.
Specific control activity: Proper authorization of transaction related activities
Transaction-related management assertion: Accuracy/Occurrence
Explanation: Proper authorization of transaction related activities to ensure accurance and occurence of the transactions
6. Checks are signed by the company president, who compares the checks with the underlying supporting documents.
Specific control activity: Independent checks on performance; Separation of duties
Transaction-related management assertion: Accuracy/Occurrence
Explanation: Independent checks on performance with the related documents to ensure accuracy and occurrence of the transactions
7. Unmatched shipping documents are accounted for on a daily basis.
Specific control activity: Physical control over documents and records
Transaction-related management assertion: Timing/ Completeness
Explanation: Physical control over documentation and records to check unmatched shipping documents on a daily routine to ensure completeness and it's timings
8. The computer system verifies that all payroll payments have a valid employee identification number assigned by the human resources department at the time of hiring.
Specific control activity: Adequate separation of duties
Transaction-related management assertion: Occurrence
Explanation: Adequate separation of duties on the payroll payments to ensure occurrence
9. The accounts receivable master file is reconciled to the general ledger on a monthly basis.
Specific control activity: Independent checks on performance
Transaction-related management assertion: Posting & summarization
Explanation: Independent checks on performance of accounts receivable master file reconcillation with general ledger to ensure it's postings and summarization
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What is the largest source of money for most candidates campaigns?
The most prevalent way to support a campaign is through contributions.
What is advertising campaign?Anything of value given, borrowed, or advanced to influence a federal election is considered a donation.The objective of an advertising campaign is inform, persuade, or remind customers.Advertising is any paid form of non personal promotion of good and services. Advertising campaign helps promote and increase sales of a firm.When businesses advertise their products, they tend to create awareness by bringing such products closer to consumers.Therefore, the objective of advertising campaign is to inform, persuade or remind customers.Direct mail solicitation, efforts to persuade supporters to donate online, direct requests from the candidate, events held specifically for fundraising, and other strategies are all examples of ways to raise money.Therefore,The most prevalent way to support a campaign is through contributions.
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a company's flexible budget for 50,000 units of production showed variable overhead costs of $80,000 and fixed overhead costs of $66,000. the company incurred overhead costs of $131,980 while operating at a volume of 42,000 units. the total controllable cost variance is:
The total controllable cost variance of company having incurred overhead costs of $131,980 for 42,000 units is -$9,200.
How to calculate cost variance ?The process of analysing your project's financial performance is called cost variance. Cost variance compares the amount that was allocated for the project in your budget with what was actually spent. This is calculated by finding the difference between BCWP (Budgeted Cost of Work Performed) and ACWP (Actual Cost of Work Performed).
Computation of variance
Flexible Budget Units 50,000 units
Total variable costs at budget level $80,000
Variable costs per unit = $80,000/ 50,000 = $1.6 per unit
Actual Production Units 42,000 units
Total overhead costs
Variable $ 1.6 * 42,000 units = $ 67,200
Fixed overhead costs $66,000
Total Budgeted overhead costs at 42,000 units $ 124,000
Actual Overhead costs $133,200
Variance Favorable is -$9,200
The total controllable cost variance is -$9,200
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the relationship between the excess return on the market portfolio (or an appropriate index used as a proxy) and the excess return on an individual asset is captured by the _____.
The Security characteristic line depicts the link between the excess return on the market portfolio (or a suitable proxy index) and the excess return on a specific asset.
The term "market portfolio" refers to a portfolio that includes the weighted total of each asset traded on the market, with weights assigned in accordance with their market presence and the essential presumption that these assets are endlessly divisible.
According to Richard Roll's criticism, this is only a theoretical idea because, in reality, a market portfolio for investment purposes would have to include every single asset that is currently available, including real estate, precious metals, stamp collections, jewelry, and anything else that has value because the theoretical market being discussed would be the global market.
Whether the items utilized for the market portfolio actually matter is a subject of some debate. It doesn't really matter, according to some authors.
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alex has $18 per week in his entertainment budget. he splits his time between going to the movies and renting video games. each movie costs $6 while each video game rental costs $3. the measured total utility of each of his activities is shown in the table below. what is alex's utility maximizing point?
Alex's utility maximizing point is A. 1 movie and 4 video game rentals.
What is Utility maximization?Utility maximization is the idea that individuals and organizations want to get the most out of their economic decisions. The utility function assesses the degree to which an individual's fulfillment is met.
When Alex is going to 1 movie and rents 4 video games, he is having the total utility of 136(40+96) and he is spending total given money also.
In this case, he can spend on 5 movies and 7 video game rentals as he has limited amount of money ($18).
It should be noted that in 0 movie and 6 video game rentals, his TU is 114.
In 2 movies and 2 video game rentals his TU is 130(75+55)
The correct option is A.
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in general, game theory is the study of question 1 options: oligopolistic markets. how people behave when the possible actions of other people are irrelevant. how people behave in strategic situations. all types of markets, including competitive markets, monopolistic markets, and oligopolistic markets.
C. In general, game theory is the study of how people behave in strategic situations.
Game theory is the study of mathematical representations of rational agents interacting strategically. It is applicable to all areas of social science, including computer science, logic, systems science, and others. Two-player zero-sum games, in which each player's earnings or losses are precisely balanced by those of the other players, were the subject of the study's initial attention.
Game theory is based on this concept, which uses the game as a model of an interaction scenario with rational individuals. Game theory's central tenet is that each player's outcome is influenced by the other's strategy.
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what impact does a bargain purchase option have on the present value of the minimum lease payments computed by the lessee (for purposes of a lease classification test)?
Since the option does not become a part of the transaction until the conclusion of the lease period, there is no effect.
What is a lease?An asset—in this case, property—owned by another party is to be rented by one party on the terms set forth in a lease. In exchange, it assures the lessor (the property owner or landlord) of regular payments for a predetermined period while guaranteeing the lessee, also known as the tenant, the use of the property.
If either party violates the contract's terms, the lessee and lessor are both subject to penalties. The incorporeal right is known as a lease.
What advantages do leases offer to both tenants and landlords?
Signing a lease lays out the relationship and the rental agreement in explicit terms for both landlords and tenants. It also details the duties and rights of each party.
For instance, leases give both parties structure because they outline the rental price and the permissible lease term. Both parties benefit from this stability. The consequences of either party disobeying or breaking any of the terms of the lease are also made clear for both parties by the lease.
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a 500 kva distribution transformer costs rs 50,000 and has a useful life of 20 years. if the salvage value is rs 5,000 and annual compound interest rate is 8%, determine the value of the transformer at the end of 10 years using sinking fund method.
the value of the transformer at the end of 10 years using sinking fund method is 35760
Intial cost of the plant ,P=Rs 50,000
salvage value of the plant,S=Rs 5,000
(i) By Straight line Method .Annual deposit to be made,
q=[tex]\frac{P-S}{n}[/tex]=50000-5000/20=Rs 2250
Despreciated value of the plant at the end of 10 years
=p-q×10=50000-2250×10
=Rs 27500
Sinking fund method,rate of interest,r=8%=0.08
Annual deposit in the sinking Fund,
q=(P-S)[[tex]\frac{r}{(1+r)^{n}-1 }[/tex]]
=(50000-5000)×0.08/[tex](1+0.08)^{20} -1[/tex]
=Rs 983
Total amount collect at end of the 10 year
=[tex]q(1+r)^{10} -1/r[/tex]
=[tex]983(1+0.08)^{10} -1/0.08[/tex]
=14240
Depreciated value of the plant at the end of 10 years
=Rs 50000-14240
=Rs 35760
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allison everhart, an employee in accounts payable, believes she can run a fictitious invoice through the accounts payable system and collect the money. she knows payments are subject to an audit. which account would be the best place to hide the fraud?
Consulting service expense accounts would be the best place to hide the fraud.
Accounting usually referred to as accounts, is the measurement, processing, and communication of financial and non-financial data regarding economic entities like firms and corporations. Accounting sometimes referred to as the "language of business," measures the outcomes of an organization's economic actions and disseminates this data to numerous stakeholders, including investors, creditors, management, and regulators. Accountants are those who work in the accounting field. Frequently used interchangeably are the words "accounting" and "financial reporting."
Financial accounting, management accounting, tax accounting, and cost accounting are some of the subfields of accounting that can be split.
An organization's financial information is reported to external users of the information through financial accounting, which includes the creation of financial statements.
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your friend tells you he is going to start investing and would like to earn a 10% return. he says stocks make him nervous, so he will only be investing 10% in stocks and the remaining 90% will be invested in bonds. what would you say to him?
My advice to my friend will be to invest in stocks and NOT in bonds.
I'll start by explaining the distinctions between stocks and bonds, and then I'll tell him what the projected rates of return are for these two types of investments.
Stocks are an example of an equity instrument where investments have a high risk but high reward profile. Bonds are fixed-income financial securities that pay periodic coupons (interest) on a regular basis. In the long run, stocks have excellent prospects and potential for capital growth. Although stock returns are erratic in the short term (one to two years), they can be lucrative for medium- to long-term investments. This is consistent with the adage in finance that the greater the risk, the greater the reward. When investing in bonds, there won't be any capital growth and the investor will only receive regular, fixed-interest payments.
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compare the outcomes (prices, outputs, profits, and economic efficiencies) of a competitive market and one in which the producers are able to act and set prices as though they were a monopoly. what would antitrust law try to accomplish?
When markets are competitive, firms accept the market price and will produce more, putting downward pressure on price until price is equal to each firm's marginal cost.
When you say someone is firm, you're implying that they act in a way that indicates they won't change their mind or that they are the one in charge. She needed to treat him firmly. A company that offers professional services is referred to as a firm. This can be a corporation, limited liability company (LLC), or partnership. The total number of buyers and sellers in a given market or region is referred to as the market. The region can be the entire planet, as well as certain states, provinces, or cities. Items traded are valued, cost, and priced in accordance with market forces of supply and demand.
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Originated by frederick brooks, what term describes the situation that is caused by the increased complexity of communications that result from adding more people to a project?.
Brooks' Law refers to a well-known software development principle coined by Fred Brooks in The Mythical Man-Month. The law, “Adding manpower to a late software project makes it later,” states that when a person is added to a project team.
Software development is the process of envisioning, specifying, designing, programming, documenting, testing, and debugging that involves building and maintaining an application, framework, or another software component.
Software development refers to a set of computer science activities dedicated to the process of creating, designing, deploying, and supporting software. The software itself is a set of instructions or programs that tell a computer what to do. It is hardware independent and makes your computer programmable. There are many types of software that a computer can run, including system software, utilities, and application software.Learn more about software development here: https://brainly.com/question/26872062
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the automobile a. was the backbone of economic growth. b. was the second most important american industry after the textile industry. c. was not as popular as expected when it first came out. d. prevented the growth of other industries. e. experienced stagnation in its production during the 1920s.
The automobile was the backbone of economic growth. Other businesses, like tourism and steel production, grew as a result of the automobile.
What served as the foundation for economic expansion in the 1920s?As new industries like chemicals, aviation, and electronics took off and more established ones adopted Henry Ford's moving assembly line, productivity and economic output increased substantially. The Model T and the Model A that followed it revolutionized American culture.
Due to assembly line the automobile rose to prominence in the 1920s and remained the foundation of the American economy through the 1970s. Although it had a significant impact on the nation's society and geography, the business boom of the 1920s was the result of a number of other reasons as well. Due to the demand for suburban housing created by this improved mobility, the construction sector saw a boom.
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Which of the following controls will most likely prevent the concealment of a cash shortage resulting from the improper write-off of a trade account receivable? A. Write-offs must be approved by a responsible officer after review of credit department recommendations and supporting evidence. B. Write-offs must be authorized by company field sales employees who are in a position to determine the financial standing of the customers. C. Write-offs must be supported by an aging schedule showing that only receivables overdue several months have been written off. D. Write-offs must be approved by the cashier who is in a position to know if the receivables have, in fact, been collected.
Before approving write-offs, a responsible officer first must take into account the suggestions of the financial department as well as any supporting evidence.
Simply put, what does a write-off mean?Describe a write-off. A write-off is indeed an accounting procedure that deducts money from a liabilities account while also lowering the value of the asset. Businesses looking to account for unmet loan obligations, missed receivables, or loss on held inventory most frequently use it in the most literal meaning.
What is a write-advantage? off'sExpenses incurred in the process of operating a business can be subtracted from profits by utilizing business tax write-offs, which eventually reduces your tax liability. The accurate calculation and recording of corporate tax write-offs will arise from careful income tax and regular documentation.
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high-contact encounters between customers and service organizations differ sharply from low-contact encounters. True or False
High-contact encounters between customers and service organizations differ sharply from low-contact encounters is true.
What is high-contact encounters?
High-contact service is providing your clients with a lot of direct assistance, whereas low-contact service entails providing them with the resources to solve their own problems. The actual question is which strategy will work best for you and your clients as they are both viable possibilities.
High-touch means providing individualized care and attention. The phrase is frequently used in corporate contexts when it is important for customers and employed person(s) to feel trusted.
However, high-contact customer service investigates issues raised by clients to find solutions. If you own a software business, you might, for instance, evaluate client issues to come up with simple fixes for the next time the same thing happens to a customer.
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united graphics is surveying its various publics in order to assess its current image. tyler, who has worked at the company for two years, receives the survey. which type of public is tyler?
Tyler pays its workers $400 for each hour of work.Technologies Tyler We offer solutions to control every stage of the life cycle of property taxes. Tyler developed integrated software solutions for tax billing and collections, computer-assisted mass appraisal (CAMA), and assessment administration functionality.
A financial event that has already happened and may be included in the financial statement of an organization is called an accounting transaction.
In this instance, a financial transaction can be seen in the claim that "Tyler pays its employees $400 for work done" because it has already taken place.
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the local pizza delivery industry currently has a herfindahl-hirschman index (hhi) value of 999 and two of the competing pizza shops have considered merging. because the merger would raise the hhi by 55 points, the federal trade commission would likely
option a- is the partially correct option because if the premerger HHI is 999 that means there is a high concentration of the industries, it will be more concentrated if the HHI value increase in post-merger.
An industry in macroeconomics is a division of an economic that generates a connected group of products, services, or raw resources. One may cite the wood business or the insurance industries as examples.
Industry classifications often use a company's or group's major source of revenue when evaluating it to place it inside a certain industry. For instance, "statistical units" are categorized by the "economic activity in which they primarily participate" according to the International Standard Industrial Classification (ISIC), which is utilized directly or through derivations for the official statistics of the majority of countries worldwide. The next definition of industry is "a set of statistical units that are grouped into the same ISIC category." A single company does not have to be a part of a single industry, though.
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bad debt expense . (check all that apply.) multiple select question. should exceed the revenue generated from incurring the cost is based on actual events and does not require estimation is an estimate is a cost of extending credit to customers
The Bad debt expense is the way businesses account for a receivable account that will not be paid is based on actual events and does not require estimation.
The Bad debt expense is used to reflect receivables that a company will be unable to collect. This entails a credit to the Accounts Receivable for the amount that is written off and a debit to the bad debts expense account.
The Bad debt is a loss that a company incurs when credit that has been extended to customers becomes worthless, either because the debtor is bankrupt, has financial problems or because it cannot be collected.
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Answer:
A
Explanation:
How does hamilton further define the role of the courts? what line of reasoning does he employ here to support his claim?.
Hamilton would contend that they wouldn't be as dedicated to and duty-bound in their roles. The courts "must declare the rule of law," according to Hamilton.
What is rule of law?The political tenet of the rule of law is that all individuals and institutions within a nation, state, or community are subject to the same laws, including legislators and other top officials. The Encyclopedia Britannica describes the rule of law as "the system, process, institution, practice, or standard that maintains the equality of all individuals before the law, ensures a nonarbitrary type of government, and more generally avoids the arbitrary exercise of authority." The phrase "rule of law" is closely related to "constitutionalism" and "Rechtsstaat," and it describes a political environment rather than a single legislative provision. The phrase was first used in 16th-century Britain. The Scottish theologian Samuel Rutherford used it in the following century to refute the idea of kings having a divine right to rule.
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is a market in which there are no long-run economic profits, little to no barriers to entry or exit, some control over price, and differentiated products
Perfectly competitive market is a market in which there are no long-run economic profits, little to no barriers to entry or exit, some control over price, and differentiated products.
According to economic theory, perfect competition arises when all businesses offer the same goods, the price is unaffected by market share, businesses can enter or exit the market without any obstacles, consumers have complete or perfect information, and businesses are unable to set prices. It is, therefore, a market that is entirely shaped by market forces. It is the opposite of imperfect competition, which more accurately depicts the structure of the market today.
Theoretically, a monopolistic market is the antithesis of perfect competition.Every real market is deemed imperfect because it does not exist on the plane of the ideal competition model.Imperfect competition, which occurs when a market deviates from the ideals of pure or perfect neoclassical competition, is its opposite.Learn more about Perfectly competitive market, here
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BMM Industries pays a dividend of $2.50 per quarter. The dividend yield on its stock is reported at 5.30%. What is the stock price?
BMM Industries pays a dividend of $2.50 per quarter. The dividend yield on its stock is reported at 5.30%. The stock price will be $ 188.68.
The price at which a share of stock is currently trading on the market is referred to as the stock price. When shares of a publicly traded firm are issued, their value is assigned a price that, ideally, represents the worth of the company itself. A stock's price will fluctuate in response to a variety of circumstances, such as shifts in the overall economy, shifts in specific industries, political developments, armed conflict, and environmental changes.
When a firm initially releases its shares on the market, its initial public offering (IPO) is what first determines stock prices. The price of a stock is determined by investment firms using a range of measures including the total number of shares being offered.
Dividend yield = (Quarterly dividend x 4) / Price
5.30% = ($ 2.50 x 4) / Price
Price = $ 10 / 5.30%
Price = $ 188.68
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When are Cyber Monday sales?
Cyber Monday sales occur on the last Monday of November. In 2022, it will be on 28 November 2022.
Cyber Monday can be described as a sales day in November where huge discounts are offered by brands on their products.
Although, this type of sale does not target higher priced products such as Apple a massive discount can be seen on products such as clothes, electronic appliances, etc.
Cyber Monday occurs on the last Monday for the month of November each year. People wait for Cyber Monday each year to avail of discounts.
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A complaint about bureaucracies is the ________ often involved in dealing with them.
A complaint about bureaucracies is the red tape often involved in dealing with them.
The term "red tape" refers to laws, adherence to formal norms or standards that are perceived as being excessive, stiff, or redundant, as well as to bureaucracy that is thought to impede or inhibit activity or decision-making. Governments, businesses, and other significant organizations are typically subject to it. Filling out paperwork, getting permits, getting approval from several persons or committees, and other minor regulations that slow down or make it more difficult to conduct business are examples of things that are frequently referred to as "red tape." A related concept, administrative burden, describes the costs citizens may incur in their interaction with government, even if bureaucratic regulations or procedures serve legitimate purposes. Meta-analytic studies in 2020 found that red tape hinders organizational performance and employee wellbeing.
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Which term describes an investment approach intended to minimize risk and maximize returns?
Advantage
Diversification
Installment
Liquidity
Diversification is the term that describes an approach intended to minimize risk and maximize returns
What is Diversification?
Portfolio diversification is the process of allocating your money in a variety of securities and asset classes in order to reduce the portfolio's overall risk.
The main goal of portfolio diversity is to reduce investment risk, particularly unsystematic risk.
How to Diversify your Investments?
Investigate more investing optionsThink about bond or index funds.Maintain Your PortfolioRecognize When to ExitPay attention to commissionsDisadvantages of Diversification
Complicated tax lawsInvestments may be challenging due to the risk of investing in Unproven assets.Complications in handling too many InvestmentsTo know more about Diversification refer
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igby and connor are both very well off financially, but igby gets most of his income from investments that he inherited from his grandfather while connor works long hours as a corporate lawyer to earn his. in terms of social class, igby would be considered , whereas connor would be .
Igby would be considered upper-class, whereas connor would be upper-middle class.
What is upper-class?In contemporary nations, the "upper class" refers to the social grouping of those who enjoy the highest levels of social standing, are typically the wealthiest members of their social class, and exercise the most influence in politics. This point of view holds that the enormous riches that the upper class typically possesses and passes down from generation to generation is what makes them distinctive. Prior to the 20th century, aristocracy was valued more than recent wealth since it placed a focus on generations of passed-down noble position. They are frequently referred to as the "old upper classes" because they may no longer control the society in which they live. These classes are frequently culturally distinct from the newly wealthy middle classes that frequently control public life in contemporary social democracies.
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Keesha company borrows $200,000 cash on november 1 of the current year by signing a 90-day, 9%, $200,000 note.
On January 29 of the next year, the note of Keesha company matures.
The time and date that interest and principal are fully due and must be repaid is known as the maturity date of a note. A written promise to pay a specified amount of money at a later time is known as a note or promissory note. The maturity date is an upcoming occurrence. Even though notes usually mature earlier than other financial instruments, like bonds, they resemble bonds in many ways. For instance, a note with a one-year or shorter maturity period might have a 2% annual interest rate. A bond with a longer maturity window and a higher interest rate might be offered.
Adding the number of days or periods covered by the note's term to the note's initial date of issuance will yield the loan's maturity date.
This note has a 90-day period (November 30 days, December 31 days, and January 29 days).
Thus, the debt matures on January 29 of the next year.
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all of the following are techniques that may be used to conceal a receivables skimming scheme except . a. lapping b. force balancing c. stolen statements d. inventory write-offs
Lapping is the act of crediting one account with funds taken from another account. Because the fraudster will utilize a client's payment to hide a payment that has been taken from another customer, it is used to conceal receivables skimming.
The technique of applying cash receipts to another customer's account in an effort to hide earlier thefts of cash receipts is best defined as lapping.
Lapping is a prohibited practice that transfers funds from one customer's account to another customer's account.
Lapping typically happens in smaller companies where one person oversees payment receipts and customer billing.
Businesses can prevent and detect overcharging by dividing the duties of the cashier and the biller as well as by performing routine checks of payment receipts.
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simon established a startup. he wanted to secure a domain name and have a website to market and sell his products. in this regard, which of the following should be the first step?
The first step towards securing domain name is acquire trademarks and copyrights in order to protect against piracy and to develop license agreements.
A recognizable phrase, word, emblem, or symbol that identifies a particular product and legally distinguishes it from other commodities of its sort is referred to as a trademark. A trademark acknowledges the firm's possession of a brand and solely distinguishes a commodity as being its own. Generally speaking, trademarks are viewed as a type of intellectual property, irrespective of whether they are registered.
The legal authority of the owner of the intellectual property is alluded to as copyright. The freedom to copy seems to be the fundamental definition of copyright. The only individuals with the sole right to reproduce a work are the original authors of the that work and anybody to whom they give permission.
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