Answer: The correct answer is "a. You may have to tell your accountant to conduct reconciliations to ensure that the rates in the system make sense when compared to actual rates.".
Explanation: Paul should surely recommend that your accountant verify the rates applied in the accounting system have reliability and are correctly related to the actual rates and if not, perform the necessary reconciliations.
The degree of risk is associated with the probability or magnitude of loss. The given statement is true.
The area of mathematics known as probability deals with numerical representations of the likelihood that an event will occur or that a statement is true. An event's probability is a number between 0 and 1, where, roughly speaking, 0 denotes the event's impossibility and 1 denotes certainty.
Simply put, probability is the likelihood that something will occur. When we don't know how an event will turn out, we can discuss the likelihood or likelihood of several outcomes. Statistics is the study of events that follow a probability distribution.
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<span>To properly target potential customers, it is necessary to know not only what the needs are of the people they're advertising, they also need to know how the item will be used. There are multiple reasons that a customer would buy an item or service, so I assume media planners would need to use psychographic classifications to know who their target audience is and what they would like. How heavily planners rely on these classsifications probably effects the response they received from the audience.</span>
Answer:
The correct answer is True.
Explanation:
This statement, a cost object is anything for which management desires a separate tracking of costs, while a cost driver is the factor that causes the cost object to increase or decrease, is correct.
These terms are mostly used in activity based costing (ABC) system.
Examples of Cost Object are material procurement costs, quality control costs, materal handling costs, line set up costs e.t.c.
Example of Cost drivers are number of purchase orders, number of inspections, numbers of set-ups e.t.c.
Answer:
Non-forfeiture option
Explanation:
Insurance is usually taken to guard against uncertainty of an event in the future. For example if a fire breaks out in an office, insurance can be used to regain an agreed portion of the office value from the insurance company.
It is a way of guarding against risk.
Non-forfeiture option is used to prevent unintentional coverage payment lapse.
This is done with the use of automatic premium loan and grace periods in case of default.