analyze the facts of the case using the fraud triangle. would you characterize what ethan lester did as a failure of internal controls? explain

Answers

Answer 1

The fraud triangle consists of three elements: opportunity, rationalization, and pressure.

In Ethan Lester's case, the failure of internal controls provided the opportunity for him to commit fraud. His rationalization might have been the belief that he deserved the money or could "borrow" it without consequences. The pressure could stem from personal financial problems or the desire for a more luxurious lifestyle.

In conclusion, Ethan Lester's actions can be characterized as a failure of internal controls, as these weaknesses enabled him to exploit the system for personal gain. The fraud triangle helps us understand the factors contributing to his fraudulent behavior.

For more about fraud:

https://brainly.com/question/31362487


#SPJ4


Related Questions

How creamy is creamy

Answers

Answer:

creamy

Explanation:

Answer:

c r e a m

Explanation:

why having business is important?

Answers

Owning and running your own business can be more satisfying and fulfilling than working for someone else

while the industry for 5g compatible devices is in the introduction stage, the industry for 3g compatible devices are in the maturity stage. what does this imply?

Answers

While the industry for 5g compatible devices is in the introduction stage, the industry for 3g compatible devices are in the maturity stage. It implies that the market for 3G compatible devices has reached its maximum size, whereas the market for 5G compatible devices is still small in size.

The market for 3G-capable gadgets has achieved its maximum size, whilst the market for 5G-capable gadgets is still rather modest. The fourth stage of an industry's life cycle is when the industry structure changes into an oligopoly with a small number of dominant companies. Since the market has grown to its maximum size, future industry demand is probably going to be nil or perhaps negative. However, the initial market size is extremely tiny at this point.

The phrase "industry life cycle" refers to the four stages through which an industry or business grows. Each stage is characterized by certain commercial characteristics. The four stages of an industry's life cycle are introduction, growth, maturity, and decline. Industries are founded when new products are developed, but it is unclear how big the market will be, what the products will look like, and who the main competitors will be.

Learn more about Industry here:

https://brainly.com/question/26521390

#SPJ1

According to the video, what are some qualities Air Traffic Controllers need? Check all that apply.

physical strength
clear speaking
teamwork
alertness
repair skills
a driver’s license

Answers

Answer:

B,C,D ON EDGE 2020-2021

Explanation:

Based on the information given, the qualities Air Traffic Controllers need are:

Clear speakingTeamworkAlertness

The correct options are B, C, and D.

What does an air traffic controller do?

They control the flow of aircraft into and out of the airport's airspace, direct pilots during takeoff and landing, and keep an eye on the movement of aircraft in the sky. To communicate with pilots, air traffic controllers employ radio technology.

Clear speaking is necessary because Air Traffic Controllers are responsible for communicating with pilots to provide them with critical information, such as weather conditions, runway changes, and other important details. Any miscommunication or misunderstanding could have severe consequences, so it's essential that Air Traffic Controllers are articulate and can communicate clearly.

Teamwork is also crucial for Air Traffic Controllers because they work closely with other Air Traffic Controllers and other professionals, such as pilots, airport personnel, and maintenance crews. They need to be able to coordinate and collaborate effectively to ensure the safe and efficient flow of air traffic.

Thus, the ideal selections are options B, C, and D.

Learn more about Air Traffic Controllers here:

https://brainly.com/question/30600617

#SPJ3

the united states caused an economic crisis in cuba by

Answers

The united states caused an economic crisis in Cuba by passing a tariff on sugar which is the major export sector and also one of the major sources of economy.

United States of America imposed a heavy tax on Cuban sugar which affected the sugar industry in Cuba. The sugar production firms faced a lot of downfall issues. This made Cuba find alternative markets and crush the financial crisis within no time to adjust their trade strategies.

The economic crisis in Cuba is caused by various other factors like domestic policies, and bad international relations. This crisis was also caused due to lack of centralized planning, improper geopolitical dynamics and not showing interest by foreign investors.

To learn more about the Cuba crisis

https://brainly.com/question/30091547

#SPJ4

Describe one downside to borrowing the maximum allowed amount of federal student loans.

Answers

The  one downside to borrowing the maximum allowed amount of federal student loans is: you must repay back the loan.

What is federal student loans?

Federal student  loans can be defined as the loan given to college students so as to enables them pay for their tuition fees among others.

One of the disadvantage of downside of collecting this loan  is that the student must repay back the loan amount given to them even if the student did not graduate from the college.

Therefore the downside of borrowing huge sum is that you  must pay it back.

Learn more about federal student loan here:https://brainly.com/question/28199470

#SPJ1

how do you think your company's stakeholders would feel about your company simply adjusting to local management practices

Answers

Stakeholders' feelings about adjusting to local management practices would vary depending on the context and their individual interests.

How might stakeholders feel about a company's adjustment to local management practices?

However, in general, stakeholders' feelings about a company adjusting to local management practices would depend on various factors such as the specific context, the nature of the adjustments, and the stakeholders' interests.

Some stakeholders may appreciate the company's adaptation as it demonstrates a commitment to local values, culture, and practices.

It may help build stronger relationships with local communities and enhance the company's reputation.

On the other hand, some stakeholders may have concerns about the potential impact on the company's global standards, consistency, and overall performance.

Balancing the interests of different stakeholders and considering the long-term implications would be essential in decision-making related to adjusting to local management practices.

Learn more about Stakeholders

brainly.com/question/30241824

#SPJ11

mia borrows 66,000 for four years at an APR of 7.25% what is the monthly payment

Answers

Answer:

$10,229.76

Explanation:

The monthly payment to be made by Mia over such borrowings will be $1,588.

What is monthly payment?

The payments made every month to pay the loans or advances is known as a monthly payment. It is like EMI.

The total repayment of the borrowings will be $76,230 over a period of four years. Monthly payment for the same will be,

\(\rm Monthly\ Payment= \dfrac{Total\ Amount}{No\ of \ Payments}\\\\\rm Monthly\ Payment= \dfrac{76230}{48}\\\\\rm Monthly\ Payment= \$1588\)

Hence, the monthly payment will be $1588.

Learn more about monthly payments here:

https://brainly.com/question/14064255

#SPJ2

What are some of the unintended effects of rent control Correct Answer(s) ctivity/? Drag appropriate answer(s) here Rent-controlled units have a high ownership More low-income residents are able to find more housing in rent-controlled cities in the long term. turnover rate. Rent-control laws incentivize the low-income units.

Answers

The amount that a property owner can charge to rent a residence or renew a lease is limited by a government programme called rent control.

What is the name of the property?

Property is something over which a person or a business has legal ownership. Intangible items having the potential for future worth, such as stock and bond certificates, as well as tangible items with current value, such as houses, cars, or appliances, can all be referred to as property.

a person's possessions; the property or belongings of a particular owner: All of their belongings were destroyed in the fire. Things that are viewed as possessions, such as property: The corporation acts as a means of distributing real estate. a piece of real estate or a tract of land: Main Street real estate.

Know more about  owner  Visit:

https://brainly.com/question/28464855

#SPJ1

16) why should you care about the power of compounding and the time value of money?a) it is critical to obtaining your future financial goals.b) the sooner you start saving for retirement, the less you have to save each year.c) you may outlive your social security and employer's retirement plan.d) it is possible to build a large estate for yourself, spouse, and children.e) all of the above

Answers

We should care about the future financial goals,saving for retirement, employer's retirement fund , large estate for your family.(E)

One should care about the power of compounding and the time value of money because it is critical to obtaining your future financial goals, the sooner you start saving for retirement, the less you have to save each year, you may outlive

your social security and employer's retirement plan, and it is possible to build a large estate for yourself, spouse, and children.Investing money is an important component of growing your wealth and saving for the future.

The power of compounding and the time value of money come into play when you save money and earn interest on it over time. These concepts work together to help your investments grow faster. It is important to care about these concepts for several reasons. First, it is critical to obtaining your future financial goals.

By investing your money wisely and taking advantage of compound interest, you can build your wealth over time and reach your financial goals more quickly.

Second, the sooner you start saving for retirement, the less you have to save each year. This is because the power of compounding allows your investments to grow faster over time.

Third, you may outlive your social security and employer's retirement plan.

By saving and investing your money, you can create a safety net for yourself and your family in case of unforeseen circumstances. Finally, it is possible to build a large estate for yourself, spouse, and children by taking advantage of the power of compounding and the time value of money.(E)

To know more about social security click on below link:

https://brainly.com/question/30517240#

#SPJ11

The Product Manager is responsible for which three activities? (Choose three.)Establishing Features and Benefit HypothesisAssigning Agile Release Trains to a common technological and architectural visionDeveloping user story acceptance criteriaDefining Program Backlog contentPrioritizing Features for optimum economic valuePrioritizing Capabilities and Enablers

Answers

Based on the given answer choices, the things which the product manager is responsible for are:

Establishing Features and Benefit HypothesisDefining Program Backlog contentDeveloping user story acceptance criteria

What is the job of a Product Manager?

This refers to the term that is used to describe and define the planning and execution of the product lifecycle are tasks that fall within the purview of a product manager.

Hence, it can be seen that curating and ranking the needs of both customers and items are also included. Product managers collaborate closely with the engineering, sales, and marketing teams on a variety of projects.

The correct answers to the given question has been given above, with regards to the responsibility of product managers.

Read more about product managers here:

https://brainly.com/question/4391018

#SPJ1

Abercrombie and Fitch is a leading retailer of casual apparel for men, women, and children. Assume that you are employed as a stock analyst and your boss has just completed a review of the new Abercrombie annual report. She provided you with her notes, but they are missing some information that you need. Her notes show that the ending inventory for Abercrombie in the current year was $372,402,000 and in the previous year was $333,183,000. Net sales for the current year were $3,540,216,000. Cost of goods sold was $1,178,504,000. Net income was $272,195,000. Required: Determine the amount of purchases for the year. (Hint: Use the cost of goods sold equation

Answers

To determine the amount of purchases for the year, we can use the cost of goods sold equation which is Beginning Inventory + Purchases - Ending Inventory = Cost of Goods Sold. The amount of purchases for the year was $1,511,723,000.

We already have the Ending Inventory for both years, so we can subtract the Ending Inventory for the current year from the Ending Inventory for the previous year to get the Beginning Inventory for the current year. This is calculated as $333,183,000 - $372,402,000 = -$39,219,000. This means that there was a decrease in inventory from the previous year.
Next, we can substitute the values we have into the cost of goods sold equation to solve for Purchases. So, Beginning Inventory ($39,219,000) + Purchases - Ending Inventory ($372,402,000) = Cost of Goods Sold ($1,178,504,000). Solving for Purchases, we get Purchases = $1,511,723,000.
Therefore, the amount of purchases for the year was $1,511,723,000. As a stock analyst, this information can be used to evaluate Abercrombie's inventory management and supply chain efficiency.

To know more about Stock visit:

https://brainly.com/question/30088764

#SPJ11

which statement best describes the sec rules relating to bookkeeping services? a. bookkeeping services are permitted if the individuals performing these services do not also perform the audit

Answers

The statement best describes the SEC rules relating to bookkeeping services is an accountant generally cannot provide bookkeeping services to an SEC audit client.

The practice of regularly documenting your company's financial activities into arranged accounts is known as bookkeeping. It may also be used to describe the many recording methods that companies may employ.

A bookkeeper will make sure that all of a company's accounts are correct and current. Additionally, they will periodically report on those accounts so the owners and management are aware of their financial situation. Additionally, tidy accounts make it simple for accountants to intervene and handle their duties at the conclusion of the financial year.

To track income and spending as effectively as possible, a corporation must employ three different forms of accounting. Cost, management, and financial accounting are some of them.

The given question is incomplete, the complete question is:

Which statement best describes the SEC rules relating to bookkeeping services?

a. Bookkeeping services are permitted, as long as the individuals performing these services are not the same individuals performing the audit.

b. Bookkeeping services are permitted if the fees from these services are insignificant relative to the audit fees.

c. Bookkeeping services are permitted if the client agrees in writing to accept responsibility for the adequacy of these services.

d. An accountant generally cannot provide bookkeeping services to an SEC audit client.

To know more about Bookkeeping Services here

https://brainly.com/question/11865844

#SPJ4

Michelle purchased an annuity that offers a guaranteed minimum interest rate and a guarantee against loss of principal if the contract is held to term. However, if the S&P 500 moves upward, Michelle's annuity might end up accruing more than the guaranteed minimum interest rate. Michelle' has purchased

Answers

Michelle' has purchased an equity-indexes annuity.

What an equity-indexes annuity?A fixed annuity known as an equity-indexed annuity has an interest rate that is based on the performance of an index, such as the S&P 500. The insurance company providing and guaranteeing the contract will normally determine the contract's growth rate on an annual basis.Annuities that are indexed (or equity indexed). -fixed annuities that invest somewhat aggressively in order to seek out higher returns. -they have a minimum interest rate that is guaranteed, just like a regular FA. -if over the minimum, the current index rate that is actually credited is frequently connected to a well-known index.

To learn more about An equity-indexes annuity refer to:

https://brainly.com/question/14310939

#SPJ4

Organization / Start Up Costs Example #3 - ABC Company incurs $48,000 of organizational costs - They usea calendar year end and began operations on July 1, 2021.
Q1: How much of an organizational expense can be deducted in 2021 ? Q2: How much an organizational expense can be deducted in 2022?

Answers

ABC Company can deduct the portion of organizational expenses incurred from July 1 to December 31, 2021, based on the number of months in operation during that year.

How much of ABC Company's organizational expenses can be deducted in 2021?

A2: ABC Company can deduct the remaining portion of organizational expenses incurred from January 1 to June 30, 2022, based on the number of months in operation during that year.

Q1: In 2021, ABC Company can deduct a portion of the organizational expenses related to its start-up. Since they began operations on July 1, 2021, they can deduct the expenses incurred from July 1 to December 31, 2021. The deduction would be calculated based on the number of months in operation during that year.

Q2: In 2022, ABC Company can deduct the remaining portion of the organizational expenses that were not deducted in 2021. This would include the expenses incurred from January 1 to June 30, 2022. Again, the deduction would be based on the number of months in operation during that year.

The deductibility of organizational expenses is governed by tax regulations, specifically the Internal Revenue Service (IRS) guidelines. It is important for ABC Company to consult with a qualified tax professional or accountant to ensure compliance with the specific rules and regulations related to organizational expense deductions.

The tax professional will help determine the appropriate amount that can be deducted in each year based on the company's start date and the applicable tax laws.

Learn more about ABC Company

brainly.com/question/15839361

#SPJ11

highly integrated systems that support company-wide operations and data, often combining aspects of many other systems is a

Answers

​Highly integrated systems that support company-wide operations and data, often combining aspects of many other systems is an ​enterprise resource planning application.

What is integrated systems?

Integration is the process of combining smaller parts or data from various subsystems into a single operational unit.

In the context of IT, integration refers to the outcome of a process that aims to bring together various, frequently disparate subsystems so that the data contained in each becomes a part of a larger, more comprehensive system that, ideally, quickly and easily shares data when needed. In order to combine new or used hardware, software, and other components, organisations frequently need to create a unique architecture or structure of applications.

Connecting unrelated systems can be done in a number of ways. There are four typical integration methods, depending on the usage type and business requirements.

Learn more about integration

https://brainly.com/question/11081329

#SPJ4

How do voluntary export restraints affect the prices of goods *?

Answers

VERs often have the effect of lowering import levels and raising the price of the commodity in the importing nation.

What impact do voluntary export restrictions have?

A VER increases consumer surplus on the export market while decreasing it on the market of the importing nation. A VER decreases producer surplus in the export market while increasing it in the market of the import country. When a large exporting nation implements a VER, national welfare may increase or decrease.

The impact of quotas on prices

Quotas raise the cost of the product, which reduces the foreign supplier's ability to compete on price. We can also see how a system like this is bad for customers because it limits their options and makes them pay more for specific products.

To Know more about importing nation.

https://brainly.com/question/13647811

#SPJ4

How much will we end up buying?

How much will we end up buying?

Answers

I think its 500 cause yes

Explain in details the Power Struggle/Tensions & Conflict
Resolution that WALES faced (IT MUST
BE RELATED TO WALES)

Answers

Wales has experienced power struggles, tensions, and conflicts over the years. The establishment of the Welsh Assembly has helped to address many of the issues that have caused tensions and conflicts. Despite the challenges, Wales has maintained its independence and has become an important part of the United Kingdom.

Wales has experienced various power struggles, tensions, and conflicts over the years. Wales is a country that has had a difficult relationship with its neighboring countries and has been the site of numerous conflicts throughout history. These conflicts were mainly between Wales and its neighboring countries.
Power Struggle: Wales has been through a long and challenging struggle for power. It was a battleground for much of the Middle Ages as the Welsh fought to maintain their independence. The power struggle started with the Romans' arrival in Britain in the 1st century and their domination of the region. Wales resisted Roman rule and, for many years, remained outside of the empire's influence.
However, in the 11th century, the Normans arrived in Britain and began conquering Wales, which led to more power struggles and tensions between the Welsh and the Normans. This power struggle lasted for centuries, with the English eventually taking control of Wales in the late 13th century.
Tensions: Tensions between Wales and its neighboring countries have existed for centuries. The tensions have arisen mainly because of Wales' struggle for independence and its resistance to outside rule. The tensions have also been fueled by cultural and linguistic differences between the Welsh and their neighbors.
Conflict Resolution: Over the years, various conflict resolution techniques have been used to address the tensions and conflicts between Wales and its neighboring countries. One of the most effective conflict resolution techniques was the establishment of the Welsh Assembly in 1999. The Welsh Assembly has provided the Welsh with a voice in government and has helped to address many of the issues that have caused tensions and conflicts.

To know more about struggles visit;

brainly.com/question/17231580

#SPJ11

Jarrett has five shapes in his document and he would like to be able to move all of the shapes like they are one object. Which of the following tasks should he do?

Answers

If Jarrett has five shapes in his document and he would like to be able to move all of the shapes like they are one object. The tasks he should do is: Group the  shapes.

What is tasks?

Tasks can be defined as the activities a person or an individual engages in.

Based on the given grouping the shapes will make it easier for Jarrett to   to move all of the five shapes like they are one object.  In a  situation were the shapes were not group it will be difficult to move all the shapes like they are one object.

Therefore If Jarrett has five shapes in his document and he would like to be able to move all of the shapes like they are one object. The tasks he should do is: Group the  shapes.

Learn more about tasks here:https://brainly.com/question/12831236

#SPJ1

A large retailer obtains merchandise under the credit terms of 1/10, net 40, but routinely takes 50 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's effective cost of trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places.

Answers

If a large retailer obtains merchandise under the credit terms of 1/10, net 40, but routinely takes 50 days to pay its bills. The retailer's effective cost of trade credit assuming a 365-day year is 9.60%.

Effective Cost of Trade Credit

Using this formula

Effective Cost of Trade Credit = {1+(D/100-D)}^ (365 / Days after Discount Period) -1

Let plug in the formula

Effective Cost of Trade Credit  = [1 + ( 0.01 /0.99 ) ] ^[ 365 / (50−10)]−1

Effective Cost of Trade Credit  = [1 + ( 0.01 /0.99 ) ] ^[ 365 / (40)]−1

Effective Cost of Trade Credit  =1.096046171−1

Effective Cost of Trade Credit  = 096046171 × 100

Effective Cost of Trade Credit = 9.60%

Therefore the  9.60% is the effective Cost of Trade Credit.

Learn more about Effective Cost of Trade Credit here: https://brainly.com/question/18648957

#SPJ1

Which of the following is NOT one of the five advantages of collaboration mentioned in Chapter 4?
a. Collaboration draws on a greater knowledge base.
b. Collaboration provides a better idea of how the audience will read the document.
c. Collaboration draws on a greater skills base.
d. Collaboration helps acclimate new employees to an organization.
e. Collaboration increases antagonism between coworkers

Answers

"Collaboration increases antagonism between coworkers," is not one of the five advantages of collaboration mentioned in Chapter 4.

Collaboration is generally believed to improve workplace relationships and foster a sense of community and shared purpose among colleagues, rather than increasing conflict or hostility.

The five advantages of collaboration that are typically cited include:

a. Collaboration draws on a greater knowledge base.

b. Collaboration provides a better idea of how the audience will read the document.

c. Collaboration draws on a greater skills base.

d. Collaboration helps acclimate new employees to an organization.

Learn more about Collaboration here:

https://brainly.com/question/31412149

#SPJ11

Use the drop-down menus to explain how to create a subreport. 1. Open the table in view. 2. On the Design tab, click Min Grouping & Totals. 3. Select "with a footer section" from a drop-down menu in a pane below. 4. Next, choose Subform/Subreport from the command group. 5. Place the cursor at an insertion point. Then, to create a space. 6. In the Subreport Wizard, choose what you want to include in the subreport from the main table. 7. Once you are satisfied, create a name for the subreport, and click Finish. DO NOT PUT ANY FILES JUST THE ANSWER.​

Answers

Answer:

design

group and sort

control

click and drag

Explanation:

gg

Enumerate the reasons why there is no universally accepted definition of the term entrepreneur.

Answers

Answer:

There is no universal definition of entrepreneurship because it is unique from person to person. ... However a person sees a business venture may or may not be exactly the same as to how somebody else sees it.

Explanation:

______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???

Answers

Answer : Monopolistic competition

Answer:

Monopolistic Competition

Explanation:

In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.

If you managed people in an organization in which there were lots of hindrance


stressors, what actions would you take to help ensure that your employees


coped with the stressors using a problem-focused as opposed to an emotion-


focused coping strategy?



(350 words)

Answers

1. Create an open and supportive environment.

2. Provide resources and training.

3. Set clear goals and expectations.

4. Delegate and distribute tasks effectively.

5. Encourage collaboration and teamwork.

6. Recognize and reward problem-focused coping.

If I managed people in an organization with numerous hindrance stressors, I would take the following actions to help ensure that my employees cope with the stressors using a problem-focused coping strategy rather than an emotion-focused one:

1. **Create an open and supportive environment:** Foster an organizational culture that encourages open communication and support. Establish regular feedback channels, such as one-on-one meetings or team discussions, where employees can freely express their concerns and challenges related to the stressors they are facing. Encourage a sense of psychological safety, where employees feel comfortable sharing their problems without fear of judgment or repercussions.

2. **Provide resources and training:** Offer resources and training programs that empower employees with the skills and tools needed to effectively address the specific hindrance stressors they encounter. This may include providing training on time management, problem-solving techniques, stress management, and conflict resolution. By equipping employees with problem-solving skills, they are more likely to approach stressors from a problem-focused perspective.

3. **Set clear goals and expectations:** Clearly communicate organizational goals, expectations, and performance standards. By setting clear objectives, employees can focus their efforts on finding practical solutions to the stressors they face. Provide guidance and support in aligning their efforts with the broader organizational objectives.

4. **Delegate and distribute tasks effectively:** Avoid overwhelming employees with excessive workloads or unrealistic demands. Ensure workload distribution is fair and reasonable, and delegate tasks based on individual strengths and capabilities. This helps employees feel more in control and capable of tackling stressors effectively.

5. **Encourage collaboration and teamwork:** Foster a collaborative work environment where employees can seek support from colleagues and work together to find solutions to common stressors. Encourage team members to share their experiences, insights, and strategies for coping with stressors. This collective problem-solving approach can help generate innovative solutions and enhance overall resilience.

6. **Recognize and reward problem-focused coping:** Acknowledge and appreciate employees who demonstrate effective problem-focused coping strategies. Celebrate their efforts and successes in tackling hindrance stressors head-on. Recognition and rewards provide positive reinforcement and motivate employees to continue utilizing problem-focused coping strategies.

By implementing these actions, managers can help create a supportive work environment that encourages problem-focused coping, empowering employees to proactively address and overcome the hindrance stressors they encounter.

learn more about "environment":- https://brainly.com/question/24182291

#SPJ11

Expenses incurred, but not yet paid, create a receivable (.e., an asset) until payment occurs. 9 True or False 2 points O1:03:41 True False

Answers

The statement, "Expenses incurred, but not yet paid, create a receivable (i.e., an asset) until payment occurs," is false because it create a liability, not a receivable, until payment occurs.

Expenses incurred, but not yet paid, create a liability, not a receivable, until payment occurs. A receivable is an asset that represents money owed to a company for goods sold or services provided. A liability is an amount owed to someone else, such as a creditor, for goods or services received. So, until an expense has been paid, it is recorded as a liability rather than an asset.This concept is crucial to understanding the accrual basis of accounting. Because expenses are recorded when they are incurred, they may be recorded before payment is made. As a result, an organization may have a liability that it must pay in the future. These accrued expenses can include salaries, rent, interest, and other expenses that have not yet been paid. The amount of the liability is usually recorded in the accounts payable account, which is a liability account that reflects the amount owed to suppliers or other parties. As soon as the liability is paid, it is removed from the accounts payable account, and the cash account is debited to reflect the payment. In conclusion, Expenses incurred, but not yet paid, create a liability, not a receivable, until payment occurs, and the given statement is False.

For more questions on liability

https://brainly.com/question/14921529

#SPJ8

Discuss any four ways in which Specialization has
improved the economic development of Nigeria

Answers

Answer:

Specialization has helped in these four ways:

1. Has created economics of scale in Nigeria, which improve economic efficiency and increase output while reducing average costs at the same time.

2. Has improved the agricultural sector, which continues to be very important for the Nigerian economy.

3. Has helped bring the electrification of the country.

4. Has helped raise the standard of living in the country, because in general terms, the larger the economy, the higher the standard of living.

chapin company purchased investments in 2019 at a cost of $200,000 and recorded them as trading securities. their market values totaled $250,000 and $230,000 on december 31, 2019, and december 31, 2020, respectively. the entry required on december 31, 2020, would include a

Answers

The entry required on December 31, 2020, for Chapin Company would include an adjustment for the unrealized gain or loss on the trading securities.


As per the accounting standards, the trading securities are reported at fair value, and any unrealized gains or losses on these securities are recognized in the income statement as they occur. In this scenario, the market value of the investments was $230,000 on December 31, 2020, which means there was an unrealized loss of $20,000 ($250,000 - $230,000) on the investments during the year.
Therefore, on December 31, 2020, Chapin Company would need to make the following entry:
Debit Unrealized Loss on Trading Securities $20,000
Credit Trading Securities $20,000
This entry would decrease the value of the trading securities to reflect their current market value and recognize the unrealized loss in the income statement. It's important to note that the adjustment for unrealized gains or losses on trading securities is a required year-end adjustment, even if the securities have not been sold.

To know more about trading securities visit :

https://brainly.com/question/31039859

#SPJ11

What was the opening price of Dow Jones Industrial Average on Sep 28, 2017 in the format of XXXXX.XX?

Answers

The starting price was $21080.28.

Calculation

On May 30, 2017, the Dow Jones Industrial Average was:

The Dow Jones Industrial Average finished at 21029.47 on May 30, 2917, a decrease of 50.81, according to valueline.com.

Index of closure: 21029.47+ downward motion = 50.8121080.28 is the opening index.

According to this, the starting price was 21080.28.

The stock performance of 30 major firms that are listed on American stock exchanges is tracked by the Dow Jones Industrial Average. It is an index of stock price. The S&P 500 Index and the NASDAQ are two more.

The day's initial average price before trading began is represented by the starting index. The price must have fluctuated, moving up and down, while trade. By adding back, it can be deduced from this closing index data that the opening price was higher than the closing price by 50.81, or around 51 basis points.

To Learn more about Averages and Opening Price, Click the links.

https://brainly.com/question/16285723

#SPJ9

Other Questions
Adverse Selection ProblemIt is March 2020 and there is evidence of people getting sick from an unknown virus. Only 2 percent of the population have visible symptoms; they require hospitalization and are known to have the virus. Another 10 percent of people are infected with the virus but are asymptomatic and do not know they are infected. The remaining 88 percent of the population are not infected with the virus. As of March 2020, there is no test to determine whether an asymptomatic person has the virus. Hospitalization costs range from $35,000 to $45,000 (with an average of $40,000). In the U.S., anyone who is hospitalized cannot buy health insurance because they already have the condition. These unlucky few must pay for healthcare out of their own pocket.Asymptomatic patients have a 50 percent chance of needing hospitalization. Uninfected patients have a 10 percent chance of eventually needing hospitalization. People who do contract the virus but who do not require hospitalization eventually recover at home and thus do not use insurance. Both the asymptomatic and uninfected population groups want to get insurance as soon as possible. (For ease of calculation, assume you do not need to re-normalize the size of the market to account for the 2% who cannot buy insurance.)Q1. No Insurance Case & Infected scenario. What is the expected cost to someone who has the virus, visible symptoms, and needs hospitalization? _______Q2. No information scenario. If you assume that both uninfected and asymptomatic patients want to buy insurance, how much would an insurance company in a competitive market charge for expected costs?__________________ Neither the insurance firms nor the prospective patients know who is infected and asymptomatic or uninfectedFull information scenario (Questions 3 and 4). Suppose that a test becomes available that can tell definitively whether an asymptomatic person has the virus. The test can also tell if a person is uninfected. Assume the government will pay for the test so neither patients nor insurance firms need to pay for it. What are the prices of insurance offered in the market:Q3. For asymptomatic infected patients, the price is:_______________Q4.For uninfected patients, the price is:___________________Suppose that, before the test becomes available, asymptomatic patients themselves can determine whether they have the virus because they cannot taste strawberries. People who can taste strawberries dont have the virus. Otherwise, there are no outwardly visible signs, and people who can and cannot taste strawberries can easily lie, so both can claim that their taste is fine.Q5.Since asymptomatic patients can easily lie about their tastebuds, insurance firms still have no data about who is uninfected and who is infected and asymptomatic. From their perspective, what is the expected cost of offering insurance to uninfected and infected and asymptomatic patients? _____________Q6. At the expected average insurance cost in Question 4, what can be said about the insurance contract that the uninfected patients will purchase? (Choose best answer):A) they will acutally buy a contract for $5400B) they will actually buy a contract for $5520C)They will not pay $5520 and will exit the marketD) They will actually buy a a contract for $4200 Match the soft skills of working with others with the appropriate descriptions: 1.Working with a team2.Being above reproach 3.Getting along 4.Leading and following well 5.Recognizing the strengths of others 6. Taking responsibility 7.Working through and solving problems A. When your good work ethic and integrity are visible, others are more likely to respect and want to support and work with you. B. The ability to identify the goal and push forward to reach it without having to be prodded, bribed, begged, reminded, and threatened to do so. c.Working with your team toward a common goal can build skills and strengths to see you through the next obstacle. D. Good leaders and good followers demonstrate respect for others and help to keep the wheels of a team well oiled. E. In a successful workplace, workers depend on and learn from each other. F. Members of a strong team are contributing and valuing their different ideas and abilities. G. This skill requires that you are a good listener, an effective speaker, and value opinions and ideas that are different than your own. ______ are standardized paper-and-pencil forms that parents, teachers, or other adults complete regarding a childs presenting problems. Safety expert Larry Shipiner works for TransWave International, a company that markets patented electronic sensors as an early warning device for locating potential problems with buried pipelines. Shipiner discusses pipeline safety issues with gas, oil, and water companies and explains new federal regulations on pipeline maintenance. He determines what potential safety problems exist, but he does not solicit orders-that is done by a sales team that designs a warning system to meet the specifications of the buyer. Shipiner is an example of a(n) Can someone help me with this ASAP Pleasee !! {1} Statistics shows that four out of every 100 new radios breakdown within the first year. What's the probability of buying a radio which does not breakdown in the first year. of the following, which event was the first step in corcyra's descent into civil war?a. a criminal charge was brought against a politician, because of his political beliefsb. each side assassinated a leader of the other sidec. the two armies went to war against each otherd. a massacre was perpetrated in the council chambe Which land class has the fewest limitations for crop growth? Sarah had three times as many quarters as nickels. She had $3.20 in all. How many quarters did she have?A. 12B. 15C. 4 Bill is reading directions for a model airplane. The model has a scale of0.25 inches to 1 foot. The model has a width of 1.5 inches.What is the width of the actual plane, in feet? What does Hawakuh refer to? Part B: How does the author of ""Grandpas Beat-up Banjo"" alter this element for the purpose of this story? (RL.3.9) . Element X has a nucleon (mass) number of 19 and a proton (atomic) number of 9.To which group in the Periodic Table does it belong?a ] IB] IIIC] VIID] 0 what does a block cipher utilize in order to change plaintext characters into two or more encrypted characters? a proton traveling at 39o respect to a magnetic field of strength 4.3 mt experiences a magnetic force of 5.0 x 10-17n a) find the protons speed b) find the protons kinetic energy The electric field inside the dome of a highly-charged van de graaff generator is _________. Two Three Zero One weakness in climbing stairs or jumping would indicate a weakness of which muscle? Example sentence of impertinent plz QUESTION 25 1 points According to Perloff (2014), p. 453, a study of the US airline industry in early 2000's identified a number for structures for different routes. Those routes that had a Cournot market structure with three firms: Reference: Perloff, J. (2014). Microeconomics. 6th Edition. Chapter 13: Oligopolistic and Monopolistic Competition. Pearson (An electronic copy of this book chapter is available in the unit Reading List, which can be found on the right panel of the unit Blackboard site). a. Charged a price 80% higher than the marginal cost on average. O b. Charged a price 130% higher than the marginal cost on average. Oc Charged a price 30% higher than the marginal cost on average. O d.Charged a price 7 times higher than the marginal cost on average. QUESTION 26 1 points Save A According to Perloff (2014). Table 3.2. when the number of firms increases in a Cournot market structure: Reference: Perioft). (2014). Microeconomics. 6th Edition Chapter 13: Oligopolistic and Monopolistic Competition Pearson (An electronic copy of this book chapter is available in the unit Reading List which can be found on the right panel of the unit Blackboard site) a. The price decreases and the market output level decreases, and hence the deadweight loss should approach zero. b. The price approaches the marginal cost and hence the deadweight loss should approach zero. The price decreases and the market output increases, and it is not possible to tell whether the market deadweight loss cel Sore and submit to HELP HELP ASAP HELP PLEASE!!!