Explain one advantage of maintaining control accounts.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge International AS And A Level Accounting

ISBN: 9781444181432

1st Edition

Authors: Ian Harrison

See More Books

Question Posted: Aug 23, 2023 01:10 PM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
1- Describe each of the following four kinds of access control mechanisms in terms of a- Ease of determining authorized access during execution, b- Ease of adding access for a new subject, c- Ease of...
Most people rely on implicit costs in their everyday lives. Can you give some examples? What alternatives did you have to achieve the desire outcome?
Forda Lumber Company owns a 7,000-acre tract of timber purchased in 2000 at a cost of $1,300 per acre. At the time of purchase, the land was estimated to have a value of $300 per acre without the...
How does an employee use a non-accomplice vendors invoice to generate a fraudulent payment?
At what radial distance $r$ from the center of a toroid of 200 windings does the magnitude of the magnetic field equal that found inside a solenoid that has 500 turns per meter of length? Assume...
Rekya Mart Inc. is a general merchandise retail company that began operations on January 1, 2014. The following transactions relate to debt investments acquired by Rekya Mart Inc., which has a fiscal...
Microsoft Corporation makes Xbox video game consoles. For Microsoft's financial year YYYY, please make use of the following provided information regarding the inventory of those Xbox consoles:...
Explain how a debit balance might arise in a purchases ledger account.
In which control account would you expect to find bad debts?
Pulling the Andon cord can cause a loss of output. In TPS, an employee should pull the Andon cord a. Whenever a problem occurs. b. Whenever the employee sees the cost of stopping the line as lower...
Using Hofstede's 6 dimensions (refer to the 6D model in the textbook), describe the cultural and organizational effects of Starbucks (a US organization), opening cafes in China. According to...
She would like to buy 100 shares of stock at some point during the day if the price falls to $260.51, therefore she places a order at 12:21 PM EDT. When she places a day order, if the price does not...
The KLM Partnership, which uses the accrual method of accounting, is owned equally by Karen ( cash method taxpayer ) , and LM corporation ( accrual method taxpayer ) . Karen is a real estate...
Earned Value Management Basics. Video: https://youtu.be/VI0Qh_VpIEw Phill Alzinwale Answer Questions Below: 1. What are the three basic questions to ask regarding the budget and earned value...
There are three different,specific types of objectives: Industry Bottom Line Company/Organization Specific Please assist with the definition of each objective. I need to know the SMART example of...
Test Use a 0.05 significance level to test the claim that the diet is effective. 170 167 155 159 209 212 198 Before 183 155 164 166 180 208 After 179
Consider the advantages and disadvantages of extending property rights so that everyone would have the right to prevent people imposing any costs on them whatsoever (or charging them to do so).
A project yields a negative net present value. Identify two reasons why the managers of a business might still go ahead with the scheme.
Write down the formula for calculating the internal rate of return on a project and identify each component.
The initial investment in a project is $200 000 and the project requires additional working capital of $40 000. Calculate the average investment in the project.
Oliver places a storage container of liquid pesticide on his farm. The storage unit gradually degrades and leaks, causing environmental contamination to Oliver's farm land as well as his neighbour's...
What is zealous advocacy? Even though zealous advocacy should be strived for by every lawyer, What are some reasons why a lawyer would choose not to represent a client? Talk about things like...
During a search of the defendant's apartment based on a warrant for narcotics, the phone rang. An officer answered the phone, and the unidentified caller asked, "Have the apples arrived there?" The...

Explain one advantage of maintaining control accounts.

Question:

Step by Step Answer:

One advantage of maintaining control accounts in accounting is that they provide an effective way to detect and prevent errors and discrepancies in a ...View the full answer

Cambridge International AS And A Level Accounting

Students also viewed these Business questions