The incorrect statement related to the custodial accounts is " custodial accounts represent a way parents can indefinitely control children.
The custodial accounts can be defined as the accounts that are managed by a legal person or a guardian for the benefit of the beneficiary. The person who administer the account has an fiduciaryobligation towards the beneficiary.
The minors can set a custodial account with their parents or any of the elder relative or friend. The Guardian can withdraw money from the custodial account for the benefit of the beneficiary or minor.
Therefore the correct option is a.
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Answer:
custodial accounts represent a way parents can indefinitely control children
Explanation:
A custodial account is a financial account like the bank account, the trust fund or the brokerage account that could be set up for the beneficiary benefit and it is held by the responsible person who we called as the legal guardian
So as per the given situation, the above statement should be considered as it does not represent the way in which the parents could have the indefinite control with their children
Therefore the same is to be relevant
Answer:
TRUE
Explanation:
In managerial accounting, there are 2 meanings and significance of a relevant range.
1. The relevant range is the level of activity (range) that a firm is operating i.e. the volume of its production activity.
2. The relevant range is the level of activity within which certain cost behaviors are true i.e. whether the costs by their characteristics are fixed or variable.
Beyond a relevant range, cost behaviors could change in 2 ways
1. Variable costs could start manifesting the characteristic of semi variable costs or mixed costs or
2. Fixed costs could become stepped and become stepped fixed costs.
Therefore cost estimations which is based on cost behavior are only VALID within the relevant range. It is only within a given level of output that certain cost estimations holds true.
Answer:
25.55 days
Explanation:
first we must calculate the accounts receivable turnover ratio = net sales / average accounts receivable
net sales = $1,000,000
average accounts receivable ($80,000 + $60,000) / 2 = $70,000
accounts receivable turnover ratio = $1,000,000 / $70,000 = 14.286
average collection period = 365 days / accounts receivable turnover ratio = 365 / 14.286 = 25.55 days
This represents "Corporate-Level Strategy." The President, CFO, and COO discuss the company's product offerings and new products, which affect the overall direction and scope of the organization.
This process signifies the highest level of strategic management, known as "Corporate-Level Strategy." The annual meeting involving Jensen Mfg.'s President, Chief Financial Officer (CFO), and Chief Operating Officer (COO) addresses fundamental decisions that shape the entire organization. They deliberate on product offerings, both existing and new, making choices with enterprise-wide implications. Corporate strategy involves determining the company's overarching direction, diversification, market expansion or contraction, and resource allocation among different business units.
These decisions profoundly impact the company's long-term prospects and success. By engaging in such discussions, the leadership team ensures that the organization's strategic direction aligns with its vision and goals, contributing to its overall competitiveness and sustainability in the marketplace.
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The annual meeting of top executives at Jensen Mfg represents the corporate level of strategic management where decisions that will affect the entire organization are made. These decisions can include what new products to launch or what existing products to continue or stop, which will have long-term effects on the organization.
The annual meeting of the president, chief financial officer, and chief operating officer at Jensen Mfg, where they discuss the company's direction, product offering, and potential new products, represents the corporate level of strategic management. At this level, executives make decisions that affect the entire organization. These decisions help shape the long-term overall direction of the company and are often based on consideration of external and internal environments.
Corporate level strategy entails making decisions that are strategic in nature, meaning they will have long-term effects on the organization. Such decisions can include what new products to launch, what existing products to continue or discontinue, market strategies, and investment in new businesses or assets. Therefore, the decisions made by the president, chief financial officer, and chief operating officer during their annual meetings at Jensen Mfg are definitely representing corporate level strategic management.
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b. requirements-gathering
c. planning
d. implementation
Answer:
c. planning
Explanation:
Answer: Compliance
Explanation:
The compliance is the term which is used to refers to the process in which the organization and the employees follow the regulation, ethical culture and the laws according to the specific rules of the company.
The following are some example of the compliance are as follows:
According to the given scenario, the developing various types of ethical culture in an organization then it has to be a compliance element. Therefore, Compliance is the correct answer.
b. Financing activities section.
c. Investing activities section.
d. Operating activities section.
Answer:
b. Financing activities section.
Explanation:
Paid dividends are part of the financing activities of a cash flow statement since they affect the company's paid in capital. This section also includes any stocks issued or repurchased, as well as any changes in the company's long term debts. The company's statement of cash flows generally begins with operating cash flows, then investing cash flows and finally financing cash flows.