------------------------------------------------- Internal Control Questionnaire—Sales Transaction Processing Assertions and Questions | Yes‚ No‚ N/A | Comments | Occurrence assertion: | 1. Is the credit department independent of the sales department? | Yes | Credit manager in Treasurer’s office | 2. Are sales of the following types controlled by the same procedures described below? Sales to employees‚ COD sales‚ disposals of property‚ cash sales‚ and scrap sales. | N/A | | 3
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Revenue Recognition Policy (Note 2): A. Sale of goods Revenue Recognition According to the annual report ’s financial statement notes‚ CV Technologies (CVT) recognizes revenue when the title of goods is passed on to the customer‚ and when reasonable assurance exists regarding the measurement and collection of the consideration given. This means that once CVT ships its goods to their reliable customers‚ they will account for those goods as sold‚ and recognize the contract amount as revenue. This
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CHAPTER 5 REVENUES AND MONETARY ASSETS Chapter 5 is about Revenue Recognition and Monetary Assets. There are different criteria used in recognizing revenue depending on the standards the company is using. In general‚ revenues should be recognized when an entity has significantly performed what is required in the agreement‚ full ownership of goods is transferred‚ and services are rendered. The Securities and Exchange Commission (SEC) have identified fraudulent cases where the companies
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the use of projected images‚ music and dialogue‚ distinctively visual texts represent challenging aspects of life effectively. This is portrayed through texts such as John Misto’s play The Shoe Horn Sonata‚ Kevin McDonalds docu-drama Touching the Void and Roberto Innocenti’s picture book Rose Blanche. The shoe horn sonata by John Misto is a play that deals with the brutality of World War 2 by locking at the stories of two financial characters‚ Bridie and Sheila. When he wrote the play‚ Misto was
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Apollo 13 When Gene Kranz says that it will be there finest hour‚ he was completely true. It will be the finest hour for the Apollo 13 mission. They “won” while failing‚ because a malfunction which NASA had little to no control over which looked life threatening hit the astronauts and NASA managed to overcome the problem they had been faced with. The Apollo 13 mission in general was a failure because it stood no chance of accomplishing the goal it was supposed to. The teamwork that NASA developed
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The actual launch of the Apollo 13 was on April 11‚ 1970. Two days into the mission it looked like the smoothest flight that the Apollo program had ever seen. "The spacecraft is in real good shape as far as we are concerned. We’re bored to tears down here." said Joe Kerwin of mission control (3). At 55 hours the crew held a TV broadcast for 49 minutes where they showed off their living conditions and how they worked in weightless situations. Nine minutes after the broadcast mission control instructed
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’’’Apollo’’’‚ also known as ’’’Lester Papadopolous’’’ ’’Demigods & Monsters’’‚ ’’The Hidden Oracle’’ preview in his human form‚ is the Greek [[Greek Gods|god]] of the sun‚ light‚ healing‚ music‚ poetry‚ archery‚ reason and prophecy. He is the twin brother of the goddess [[Artemis]]. He is depicted as the god who drives the sun around in his chariot‚ a job he received when the original sun god‚ [[Helios]]‚ faded due to him being downsized by the Romans. He and his sister‚ Artemis‚ are known as the
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QUESTION 3 Does Intellectual Property theft undermine the workings of the free market system? Yes‚ we look first what is Intellectual Property Right (IPR). World Trade Organization (WTO) said IPR are the right given to person over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time. Then Free Market is a summary term for an array of exchange that takes place in society. Each exchange is a voluntary agreement
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In the move Apollo 13 the stages of group development can be seen in the relationships with the Astronauts Lovell‚ Haise‚ Mattingly and Swigert. When we first see the Astronauts they are a well-oiled machine. They know each other’s movements and they can predict what one another is going to do next. The Astronauts are confident in each other which make them more confident in the success of their mission. Then Mattingly is removed from the mission just two days before take-off and replaced with
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Apollo 13 Assignment 1. • Sputnik-1 - USSR - (1957)- First artificial satellite. • Pioneer 0 - USA Lunar Orbiter - (August 17‚ 1958) -First stage exploded. • Luna 3 - USSR Lunar Far Side Flyby - (October 4‚ 1959) - First image of the Moon’s hidden side • Apollo 11 - USA Lunar Manned Lander -Apollo 11 was the first manned lunar landing‚ which took place on July 20‚ 1969 2. The Apollo 13 malfunction was caused by an explosion and rupture of oxygen tank no. 2 in the service module
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