FUNDAMENTAL ACCT PRINCIPLES LL W CONNECT
FUNDAMENTAL ACCT PRINCIPLES LL W CONNECT
25th Edition
ISBN: 9781265283629
Author: Wild
Publisher: MCG
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Chapter 8, Problem 6DQ
To determine

Internal control:

Internal control is the process of monitoring the business transaction and aligns them with the objectives of the business.

Limitations of the internal controls.

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A B D E F G H RELATIVE CELL REFERENCES J K L M N 4 Investment A Growth Rate (Expected) 12% Year 0 Year 1 Formulas $2,200 #N/A 5 Investment B 6 Investment C 1234567800 1% $2,200 3% $2,200 #N/A #N/A 8 "Take each value in column C and multiply it by its adjacent growth rate in column B (which is 1 plus the percentage expected growth)." 9 10 ABSOLUTE CELL REFERENCES 11 12 13 Investment A Growth Rate (Expected) 12% Year 0 $2,200 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 14 15 Formulas #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A 16 17 "Start in column D, then move across allowing the column to change, and multiply the preceding value by its FIXED growth rate in cell $B$13 (which is 1 plus the percentage expected growth) to get the current value." о 18 19 FIXED COLUMN / RELATIVE ROW CELL REFERENCES 20 21 Growth Rate (Expected) 22 Investment A 23 Investment B 12% 1% Year 0 $2,200 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 24…
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