Loose Leaf for Fundamental Accounting Principles
Loose Leaf for Fundamental Accounting Principles
23rd Edition
ISBN: 9781259687709
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 8, Problem 6BTN
To determine

Concept Introduction:

Internal control system is a set of all policies and procedures used by managers –

• To protect assets

• To ensure reliable accounting

• To promote efficient operation and

• To adhere to company policies

To Determine: 10 internal control system in a retail department store

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The fiscal 2010 financial statements for Neptune, Inc report revenues of $14,892,615, net operating profit after tax of $987,625, net operating assets of $6,124,587. The fiscal 2009 balance sheet reports net operating assets of $5,995,633. What is Neptune s 2010 net operating profit margin?
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