False value hardware began 2018 with a credit balance of $23,000 in the allowance for sales returns account (i. e., the estimated return liability). sales and cash collections from customers during the year were $680,000 and $720,000, respectively. false value estimates that 4% of all sales will be returned. during 2018, customers returned merchandise for credit of $32,000 to their accounts. what is the balance in the allowance for sales returns account at the end of 2018?

What is an example of a good stock to buy in a recession? a) cyclical stock b) defensive stock c) income stock d) bond

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Is exploiting a distinctive competence or improving efficiency for competitive advantage. (a) cooptation (b) coalition (c) competitive intelligence (d) competitive aggression (e) smoothing