What is an internal exchange transaction, and how is it reported?

Q: Why transactions is complex?

A: The transaction is referred to the complete agreement, which is between the purchaser as well as the…

Q: What is physical location exchanges?

A: Exchanges:  An open and coordinated marketplace for various financial instruments like stocks,…

Q: Which internal control objective is concerned with ensuring that accumulated totals in the…

A: Internal controls are the procedures that are implemented to ensure operational efficiency and…

Q: What is the objective of a transaction log?

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: What is a memorandum entry? Why it is done?

A: A memorandum entry is different from the journal entries. The memorandum entry is not recorded by…

Q: What is over-the-counter (OTC) trade?

A: It is an electronic communications network which permits the investors to sell and buy the stocks.…

Q: transaction, an event, and an arrangement.

A: Transaction, event and arrangement are commonly used in business or life to denote certain…

Q: What is the relationship between future exchange and clearinghouse?

A: Future exchange and clearing house are two different parts of future markets.

Q: What is the rule for assigning foreign keys in an M:M association?

A: Foreign Key: The primary key of a file is used to identify a record in another file is known as…

Q: What are management’s responsibilities related to maintaining a transaction trail?

A: A transaction tail defines the sequence of evidences which helps in reconstruction of transaction…

Q: What is a transaction?

A: Transaction refers to the business activity which brings change in the business assets, liabilities…

Q: What is a trading venue?

A: Answer: Trading facility is nothing but a facility where the financial instruments of many buyers…

Q: Define risk in an electronic commerce setting.

A: E-Commerce:   E-Commerce also refers to electronic commerce or internet commerce where buying and…

Q: Where are transactions initially recorded?

A: The primary point where the financial transaction, which is initiated or effected by entity during a…

Q: What rules govern data collection?

A:

Q: Describe what is meant by transaction analysis.

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship…

Q: What's control account?

A: Accounting means the summarizing, recording and analyzing of the all business transaction during a…

Q: What is a proxy statement? What information does it provide?

A: Definition:   Proxy statement: Proxy statement is a statement required for seeking shareholders’…

Q: needed, state the registr ts where the transaction ed.

A: The journal entries in the given question are made as follows:

Q: What are the two parts of a registration statement? What does each part contain?

A: Registration statement is composed of two parts 1. Prospectus 2. Informational needs of the staff of…

Q: How are non controlling intrerests (NCI) affected by intragroup transactions?

A: Non-controlling interests are the ownership is defined where the shareholder holds less than 50% of…

Q: What criterion should be used to evaluate trade-offs between information characteristics?

A: Financial accounting: It refers to the process of recording the financial transactions of the…

Q: Display graphically and explain the mechanism of settlements by collection orders

A: There are mechanism of company working for the settlements of collection orders where the sender of…

Q: Explain and distinguish the difference between a transaction, an event and an arrangement.

A: The accounting equation is expressed in the form al an equation, that is, an asset must be equal to…

Q: Which organization initiated the convergence process between GAAP and IFRS and why?

A: GAAP -: GAAP is a mixture of definitive standards (established by policy boards) and the normally…

Q: What is the EBIT?

A: The income generated by a business in the course of normal operations, after deducting the direct…

Q: What represents a company’s primary means of cummunicaying information to external users?

A: First of all, we need to understand who are external users- these are the people who are interested…

Q: What is collusion?

A: Auditing: Auditing refers to the process of verifying the correctness and fair presentation of…

Q: important to manage transaction exposure

A: The RISK - posed by firms participating in international commerce that currency exchange rates will…

Q: What mathematical relationship is used among proprietary account balances?

A: Answer:-  Mathematical relationship meaning:- A mathematical relationship in the general term can be…

Q: ment-mandated non-exchange transactions.

A: Given: To explain the correct option as,

Q: What is the purpose of the general ledger history file?

A: General Ledger:   The financial information required for the preparation of financial report; of…

Q: What is the purpose of a subsidiary ledger?

A:

Q: What is the purpose of a registration statement?

A: Registration statement is a legal document which is filed with the SEC to register securities for…

Q: authorization payment

A: Authorization of payment means allow subordinates to make payment after approval of top executives…

Q: Discuss the features that differetiateorganised exchanges from the over-the-counter market

A: the question is based on the concept of stock exchange trading mechanism and over the counter…

Q: What transaction is covered by Maceda Law?

A: MACEDA LAW is also known as REALTY INSTALLMENT BUYER ACT, was approved in 26th August 1972 to…

Q: How should I record transactions?

A: Recording of transactions is the first step in the accounting process.

Q: When does an activity be part of related party transaction?

A: Related party: Related party refers to the person that is related to an entity. A person or a close…

Q: What is negotiated deals (security offerings)?

A: Negotiated deals are usually referred to in the context of fixed-income securities. The parties…

Q: What is the purpose of a check digit?

A: A check digit is a form of control check which is used for the purpose of error detection on…

Q: What is off-exchange transaction?

A: The answer is provided in the next step.

Q: What information is required in a proxy statement?

A: A proxy statement is a document containing the information the Securities and Exchange Commission…

Q: Which of the following is most likely to be described as a depository institution?

A: Depository institutions are those institutions who have the authority to accept monetary deposits…

Q: Which of the following is often called a compensating control?a. transaction authorizationb.…

A: The compensating control is referred to as a type of control that is meant for reducing attacks and…