If the current account balance shows a surplus, and capital account receipts exceed capital account payments, then the net change in government international reserves must be ________, indicating a(n) ________ in U.S. international reserves
A) positive; increase
B) negative; increase
C) negative; decrease
D) positive; decrease
A
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Which of the following items is not a control plan of the AP/CD process?
a. check for authorized prices, terms, freight, and discounts b. independent validation of vendor invoices c. independent authorization to make payment d. reconcile bank account
What are at least four important internal control procedures?
The chief executive officer earns $20,700 per month. As of May 31, her gross pay was $103,500. The tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7000 of an employee's pay. What is the amount of FICA - Medicare withheld from this employee for the month of June?
A. $7604.15 B. $641.70 C. $300.15 D. $277.64 E. $1283.40
Draw two distinctions between accounting for a stock split and accounting for a stock dividend