Las Sendas, Inc

question 123

Multiple Choice

Las Sendas, Inc.had average operating assets of $4,000,000 and sales of $2,000,000 in 2013.If the controllable margin was $600,000, the ROI was

• A)60%
• B)50%
• C)30%
• D)15%

---

Definitions:

Voucher System

An accounting system that involves preparing and approving vouchers before transactions are recorded and payments made, to ensure financial controls.

Control Procedures

Measures and policies implemented by a company to ensure the integrity of financial and accounting information and compliance with laws and regulations.

Cash Equivalents

Temporary investments which can quickly be converted into specific cash sums and have a negligible risk of value fluctuation.

Petty Cash Fund

A petty cash fund is a small amount of cash kept on hand by a business for making immediate payments for minor expenses, managed through a petty cash system.