Business, 22.06.2019 03:00, JadaaJayy

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?

Answers: 2

Other questions on the subject: Business

Business, 22.06.2019 02:20, awsome12dusk
On january 2, 2018, all good company purchased 14,000 shares of the stock of big bad company, and did not obtain significant influence. the investment is intended as a long-term investment. the stock was purchased for $18 per share, and represents a 10% ownership stake. big bad company made $350,000 of net income in 2018, and paid dividends to all good company of $12,500 on december 15, 2018. on december 31, 2018, big bad company's stock was trading on the open market for $19.50 per share at the end of the year. use this information to determine the unrealized gain or loss on the investment that should be reported at year end by all good company. if it is a loss, enter as a negative number. round to nearest whole dollar.
Answers: 1
Business, 22.06.2019 02:30, Roof55
When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 3 years when $4000 is deposited in a savings account drawing 5 3 4 % annual interest compounded continuously. (round your answer to the nearest cent.) $ (b) in how many years will the initial sum deposited have doubled? (round your answer to the nearest year.) years (c) use a calculator to compare the amount obtained in part (a) with the amount s = 4000 1 + 1 4 (0.0575) 3(4) that is accrued when interest is compounded quarterly. (round your answer to the nearest cent.) s = $
Answers: 1
Business, 22.06.2019 18:50, joejonaslover7476
1. given the following cobb-douglas production function: y = k0.5 l0.5 , where k is the amount of capital and l is the amount of labor. if the economy begins with 100 units of capital and 100 units of labor, compute the following: a. how much output does the economy produce? b. what are wage and rental price of capital? c. what share of output does labor receive? d. if half of the capital stock is destroyed, what is the new level of output? e. what are the new wage and rental price of capital? f. what share of output does capital receive now?
Answers: 3
Business, 22.06.2019 19:30, dfrtgyuhijfghj4794
About 20 years ago, sturdy light, inc., produced a sturdy, lightweight backpack in a market that was rapidly growing. sturdy light became a leader in this market. eventually, the backpack market reached the maturity stage and slowed down. however, by this time, sturdy light had developed a strong brand name and continued to steadily lead the market. which of the following describes this scenario? a. sturdy light was a star that developed into a cash cow. b. sturdy light was a question mark that developed into a star. c. sturdy light was a dog that developed into a question mark. d. sturdy light was a cash cow that developed into a star.
Answers: 2
Do you know the correct answer?
Insurance companies have internal controls in place to protect assets, monitor the accuracy of accou...

Questions in other subjects:

Total solved problems on the site: 13575911