in evaluating internal control, the auditor is basically concerned that the system provides reasonable assurance that
Answers
In evaluating internal control, the auditor is basically concerned that the system provides reasonable assurance that financial statements are reliable and accurate, that assets are safeguarded against theft or loss, and that the company complies with laws and regulations.
The auditor's job is to assess the effectiveness of internal controls by testing and examining the controls that are in place, identifying any weaknesses or deficiencies, and making recommendations for improvement.
Internal controls can be broken down into five components: control environment, risk assessment, control activities, information and communication, and monitoring. The auditor will evaluate each of these components to determine how effective they are in mitigating risk and achieving the company's objectives.
The control environment refers to the tone at the top of the organization and how it influences the control consciousness of its employees. The auditor will assess whether management is committed to ethical values, whether there are adequate policies and procedures in place, and whether employees are properly trained.
Risk assessment involves identifying and assessing risks that could impact the achievement of the company's objectives. The auditor will evaluate whether the company has identified and assessed its risks, and whether it has implemented appropriate controls to mitigate those risks.
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Related Questions
Which part of the check gives the bank permission to release the money?
Answers
Answer:
And even though all national banks and federally chartered credit unions are subject to the same hold rules, each institution can release your funds sooner at its discretion. By understanding the rules of funds availability, you can ensure you'll have access to your money when you need it.:
Which is an example of a pun that could be included in a book about space?
Answers
Answer:
When writing about planets, my favorite key on the keyboard is the space bar
Explanation:
btw can i plz get brainliest
An accumulated deficit means a company has ______. Multiple choice question. a contra-asset account due to losses accumulated more net losses than net income Treasury Stock that it repurchased at a cost that was higher than the issuance price dividends in arrears
Answers
Based on accounting principles, an accumulated deficit means a company has "accumulated more net losses than net income."
This is because the accumulated deficit is generally considered to be a "negative retained earnings balance."
In other words, accumulated deficit is the total summation of the losses and dividends paid by a company that supersedes the profits gained by the company.
Hence, in this case, it is concluded that the correct answer is option B. "accumulated more net losses than net income."
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A semester consists of half the year (18 weeks) and is worth .5 (1/2)
credit. *
True
False
Answers
Lina works as an accountant for a small manufacturing firm. She is using the spreadsheet program OpenOffice Calc to calculate all the expenses that her firm incurred during a given month. Which Subtotals function should she use to add all the expenses that she listed in a particular column?
A.
AVERAGE
B.
SUM
C.
MIN
D.
MAX
E.
COUNT
Answers
Lina works as an accountant for a small manufacturing firm. She is using the spreadsheet program OpenOffice Calc to calculate all the expenses that her firm incurred during a given month. She should use "SUM" function to add all the expenses that she listed in a particular column.
The SUM function is used to combine values. Certain values, reference cells, ranges, or a mix of all three can be supplied. OpenOffice Calc is the name of OpenOffice's spreadsheet module. Calc's features are quite similar to those of Microsoft Excel.
When used independently or in combination with other Spreadsheet features like SUM, Excel makes doing mathematical operations straightforward. Spreadsheets saved in Microsoft Excel format may be opened and saved in OpenOffice Calc. A system that instantly produces a series for charting based on how the user's information is set down is only one of many features that Excel lacks. In Calc, spreadsheets are additionally immediately saved as PDF files.
Option B is the correct answer.
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Consider a family that has one working parent, a stay‐at‐home parent, and three children. Two of the children are in elementary school, and the youngest child is in Pre‐Kindergarten. They have a house, a car, and a minivan, and they carry some credit card debt.
The house is valued at $89,000 with a mortgage balance of $80,000.
The car is worth $15,000. The family owes $15,000 on this auto loan.
The minivan is worth $20,000. The family owes $16,000 on this auto loan.
They financed new household furnishings valued at $5,000. The family owes $4,500 on this loan.
They have $15,000 in their retirement account.
They have $1,500 in emergency savings, $1,000 in savings, $500 in checking, and $1,500 in a CD.
They have $200 in cash.
Balances on the credit cards total $15,000.
The family pays $500 per month for school loans; the current balance is $25,000.
The family pays $350 per month for Pre‐Kindergarten tuition.
All of the children are on soccer teams, which costs $100 per month.
For this assignment, use the information above to answer the following questions about the family's net worth:
Calculate the family's total assets.
Calculate the family's total liabilities.
Calculate the family's net worth, and identify whether the net worth is positive or negative.
List any expenses that would not fall on the balance sheet.
Answers
1. The family's total assets = $148,700.
2. The family's total liabilities = $155,500.
3. The family's net worth is ($6,800), which is $148,700 - $155,500.
What is the family's net worth?The family's net worth is the excess of its total assets minus its total liabilities.
The net worth can be positive or negative. It is negative when the total liabilities exceed the total assets.
Data and Calculations:Assets Liabilities
House on mortgage $89,000 $80,000
Car on auto loan 15,000 15,000
Minivan on auto loan 20,000 16,000
Furnishings 5,000 4,500
Retirement account 15,000
Emergency savings 1,500
Savings 1,000
Checking account 500
CD 1,500
Cash 200
Credit cards 15,000
School loan 25,000
Total $148,700 $155,500
4. Thus, the expenses that would not fall on the balance sheet are:
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At the end of the video, there is the implication that "selling out" has a different meaning for today’s teens than for past generations. Do you think this is true? Explain.
Answers
Answer: No, it's still the same
Explanation:
Selling out is the process of having your product completely bought by your customers either at an event or through a period of a day sales. The meaning of the word "sold out" still holds for the past generation and also this generation or teens today
true or false? why? consider congestion control in tcp. when the timer expires at the sender, the value of ssthresh is set to one half of its previous value.
Answers
In TCP congestion control, when the timer expires at the sender, the value of ssthresh (slow start threshold) is set to one half of its previous value is True.
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If you buy an investment for $800 and then sell it for
$950 a year later, what is your annual return on investment (percentage)?
Answers
Answer: 18.75%
Explanation:
Since the investment is bought for $800 and then sold for $950 a year later, then the annual return on investment will be:
= (Selling price - Cost price) / Cost price × 100
= ($950 - $800)/$800 × 100
= $150/$800 × 100
= 18.75%
A company's fixed operating costs are $250,000, its variable costs are $10.00 per unit, and the product's sales price is $14.00. What is the company's breakeven point? Show all workings (students can copy and paste workings from excel)
Answers
The company's breakeven point is 62,500 units. To calculate the company's breakeven point, we need to determine the number of units the company needs to sell in order to cover its total costs.
The breakeven point occurs when the total revenue equals the total costs.
Let's denote the breakeven point as 'x', and use the following information:
Fixed operating costs (FC) = $250,000
Variable costs per unit (VC) = $10.00
Sales price per unit (SP) = $14.00
The total cost (TC) can be calculated as:
TC = FC + (VC * x)
The total revenue (TR) can be calculated as:
TR = SP * x
To find the breakeven point, we set TC equal to TR and solve for x:
FC + (VC * x) = SP * x
Now, let's plug in the given values:
$250,000 + ($10.00 * x) = $14.00 * x
Simplifying the equation, we have:
$250,000 = $14.00x - $10.00x
$250,000 = $4.00x
Dividing both sides by $4.00, we get:
x = $250,000 / $4.00
x = 62,500 units
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What is education assistance?
O Time off given to employees still attending school
O A benefit which helps pay for continuing education
O Tutoring services offered to employees still in school
Workshops employees are required to attend each quarter
Answers
Answer:
A benefit which helps pay for continuing education
Explanation:
Some employers offer education assistance benefits to their employees to help cater to education expenses. Education assistance may cater to the employee's continuing education, their spouses, or their dependent children.
Education assistance as a benefit is an employer's way of retaining and motivating the best employees. The benefit is usually available after meeting certain requirements. Education assistance is also beneficial to the employer as it improves and updates its employees' skill sets.
Determine the interval of warranty costs from various comparies that are one standard deviation around the mean. The interval of warranfy costs that are one standard deviation around the mean ranges from 3 to 3 (Type integers or decimaie, Use ascending order.)
Answers
The interval of warranty costs that are one standard deviation around the mean is from 1200 to 1420.
Given that the mean (µ) of warranty costs is 1310 and the standard deviation (σ) is 110, we can determine the interval of warranty costs that are one standard deviation around the mean.
To find the interval, we subtract and add one standard deviation from the mean.
Lower Limit: µ - σ = 1310 - 110 = 1200
Upper Limit: µ + σ = 1310 + 110 = 1420
Therefore, the interval of warranty costs that are one standard deviation around the mean is from 1200 to 1420. This means that approximately 68% of the warranty costs from various companies would fall within this range, assuming a normal distribution.
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The complete question is:
Determine the interval of warranty costs from various comparies that are one standard deviation around the mean. The interval of warranfy costs that are one standard deviation around the mean ranges from 3 to 3 (Type integers or decimaie, Use ascending order.) µ = 1310, σ = 110
conversion measurement is an excellent way for businesses to understand how users are engaging with their brand.
Answers
The conversion measurement is an excellent way for businesses to understand how users are engaging with their brand. Matching each conversion action to a relevant example of a business need.
Jenna would like to know how many users are visiting a specific page on her client’s website. - Pageview
Edith is interested in tracking how many users are signing up for her newsletter each month.- Sign-up
Durene would like to measure how many sales of a specific product are made.- Purchase
Travis wants to measure the number of new customers his campaigns are producing for a client.- Lead
What is Business?An economic activity that involves the exchange of goods and services with the help of buying and selling with the objective to gain some profit is called Business.
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The complete question is
Conversion measurement is an excellent way for businesses to understand how users are engaging with their brand. Match each conversion action to a relevant example of a business need.
Jenna would like to know how many users are visiting a specific page on her client’s website.
Edith is interested in tracking how many users are signing up for her newsletter each month.
Durene would like to measure how many sales of a specific product are made.
Travis wants to measure the number of new customers his campaigns are producing for a client.
Purchase
Sign-up
Pageview
Lead
Which kind of map would be most helpful to use when studying watersheds?a road mapa political mapa topographic map
Answers
Answer:
Topographic map
Explanation:
Topographic maps show the arrangement of the physical features of an area of the Earth; Such as mountains, valleys, plains, and bodies of water ( above sea level).
name two methods used to measure inequality of income in a country
Answers
The most commonly used inequality measure are the Gini coefficient ( based on Lorenz curve ) and the percentile or share ratios. This measures try to capture overall dispersion of income; how were they tend to people different leavles of importantance on the bottom middle and top end of distribution .
I hope it is helpful for you .
f interest rates rise but the quantity of loanable funds demanded and supplies remains constant, this implies that Group of answer choices the demand for loanable funds decreased while the supply increased. both the demand and the supply of loanable funds increased. both the demand and the supply of loanable funds decreased. the demand and the supply of loanable funds both remained the same. the demand for loanable funds increased while the supply decreased..
Answers
Answer:
The demand and the supply of loanable funds both remained the same.
Explanation:
If the interest rates rise, but both demand and supply of loanable funds remanin constant, this means that demand and supply remained the same.
This would be a problem in the real world, because when interest rates rise, what should happen is that the supply of funds rise, while demand falls, because a rise in interest rates makes investment more expensive since interset rates are simply the price of the loanable funds.
what are two factors that have caused labor union membership to decline significantly over the past 50 years?
Answers
Two factors that have caused labour union membership to decline significantly over the past 50 years are Right-to-work laws were passed and the loss of jobs in manufacturing in the US.
What do you know about labour union membership ?
Unions are independent worker organisations formed for the purpose of furthering and defending workers' interests. As a result, they play an important role in the quest for better remuneration and working conditions. Union membership, density, and bargaining power all have a significant impact on working conditions. Reliable data on unions and unionisation, employers' organisations, collective bargaining, and industrial disputes are required to assess the extent of social dialogue. This page contains statistics and other information about global unionisation.
So, The required answer is Right-to-work laws were passed and the loss of jobs in manufacturing in the US.
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Safety in the workplace is the sole responsibility of the employer. please select the best answer from the choices provided t f
Answers
The statement is FALSE. Safety in the workplace is NOT the sole responsibility of the employer.
Everyone at work, as in all employees, must contribute to keeping everyone else safe; the onus of proof, though, rests with the employer. The employer has to ensure that workplace safety is secured and that no one who works there or visits it is in danger.
The distribution of responsibilities for safety in the workplace is as follows:
Employer: Create programs based on their authority to solve safety issues and hazards.Employees: Follow safety protocols and alert managers to any potential hazards.
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Answer:
false it's everyone's
Explanation:
Demand-pull inflation happens when the demand for goods
remains very low.
shifts up and down.
matches the supply.
increases.
Answers
Demand-pull inflation occurs at the time when the demand for goods increased.
The following information regarding the demand-pull inflation is:
It represents the imbalance impact with respect to the aggregate supply & demand. At the time when the aggregate demand outweighted the aggregated supply so the price should increased. Due to this, the demand should increased that means high prices.Therefore we can conclude that demand-pull inflation occurs at the time when the demand for goods increased.
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Answer:
Demand-pull inflation happens when the demand for goods increases.
Explanation:
option D
This investor started with $10,000 and ended up with $74,500 after 30 years, just
from the growth of that initial investment. Now, imagine they tried to use savings to
reach that same 30-year goal. If they start with $10,000, how much would they
need to save each year to have $74,500 after 30 years? Assume they don't earn
interest on savings.
would they need to save to have $74,500 after 30 years
Answers
Assuming that interest is not earned on savings, the annual saving to save $74,500 with an initial capital of $10,000 is $2,150.
What is interest?Interest refers to the finance charge or income that is added to a periodic saving.
The interest (simple or compounding) increases the amount of the funds at the end of its maturity period.
We can compute the compound interest using an online finance charge.
Data and Calculations:Initial investment = $10,000
Investment balance after 30 years = $74,500
To save $74,500 with an initial capital of $10,000 without interest, the annual saving is $2,150 ($74,500 - $10,000)/30.
Thus, assuming that interest is not earned on savings, the annual saving to save $74,500 with an initial capital of $10,000 is $2,150.
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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUQUESTION 2 of 10: Medicare is a government program funded by tax dollars to:
a) Provide health insurance to children
b) Provide health insurance to working adults
c) Provide hospital insurance for those over 65
Answers
Celia's firm has developed a breakfast cereal targeted toward children. Rather than compete in the mature U.S. market, she has decided instead to introduce the product in Europe, where she feels it will be innovative. Her advertising agency urged caution because__________.
a. print media are different in Europe, and it would be difficult to create a global campaign.
b. advertising regulations differ in other countries, including advertising to children.
c. domestic advertising agencies cannot earn commissions on advertising they place overseas.
d. research indicates that European children do not eat breakfast as often as American children.
e. literacy rates are significantly lower in Europe, and print ads would be ineffective.
Answers
Answer:
b. advertising regulations differ in other countries, including advertising to children.
Explanation:
Cecilia decided tolo introduce the her cereal advert in Europe, where she feels it will be innovative.
Thai was done to avoid competing in the mature U.S market.
It will be important for Cecilia to consider the advertising regulations on Europe.
There can be differences in what is considered appropriate in an advertisement in Europe.
She will need to ensure the content of her adverts complies with what is deemed appropriate content in Europe
Gilroy Crackers enjoys a competitive advantage as a cost leader because high demand for its products has allowed it to operate at the minimum efficient scale. Which of the following scenarios would be most concerning to the managers of Gilroy Crackers? A major winter storm shuts down Gilroy's production for several days. Gilroy's most reliable production worker takes a job in another industry. Gilroy's leading competitor develops a new low-sodium product. A wheat shortage raises input costs across the industry.
Answers
Answer:
Explanation:
Gilroy has been enjoying a cost leadership advantage as a result of a high demand for its product in the market , which has made him to operate at a minimum efficient scale. This means that any action that disrupts the production activities of Gilroy crackers will be of great concern to the managers as demand for crackers might not be met and the cost competitive advantage lost.
One action here that could cause this is if a major storm shut down Gilroy's production for several days. Production will be affected and customers high demand might not be met as a result.
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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Find an article dealing with an opinion poll on a local, state ,or national issue. Write a paragraph summary of when and how the poll was conducted, and what the results indicated.
Answers
According to a CNN poll conducted in early February 2021, 69% of Americans approve of President Joe Biden's handling of the COVID-19 pandemic. The poll was conducted by SSRS, a research firm that specializes in survey research. The poll surveyed 1,004 adults across the United States and had a margin of error of plus or minus 3.7 percentage points. The poll also found that 60% of Americans believe that the worst of the pandemic is yet to come, despite the country's recent progress in vaccine distribution. Additionally, 93% of respondents said they have worn a mask in public in the past week, a sharp increase from similar polls conducted last year. The poll's results indicate that the majority of Americans are supportive of the current administration's efforts to combat the ongoing pandemic
A corporation created under the authority of a foreign country may be called a(n) __________. Multiple Choice distant corporation alien corporation external corporation offshore corporation imported corporation
Answers
Answer:
Alien corporation.
When using the High Rate method to pay down debt, which debt do you focus on first after you have made all of your minimum monthly payments? a The card with the lowest interest rate b The card with the highest interest rate c The card with the highest balance d The card with the lowest balance
Answers
When using the High-Rate method to pay down debt, you should focus on the debt with the highest interest rate first, after making all of your minimum monthly payments.
What is debt?Debt refers to amount of money that an individual, company, or government owes to another entity. It is a form of borrowing that involves receiving funds from a lender with the expectation of repaying it at a later date with interest. Debt can take many forms, such as loans, credit card balances, mortgages, and bonds. It is typically used to finance investments or expenditures that an entity cannot afford to pay for outright. While debt can be useful in providing financial flexibility and allowing for the realization of long-term goals, it can also be a burden if the borrower is unable to meet the repayment obligations, leading to financial difficulties and potential legal consequences.
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The FBI special agent today likely has one or more of which of the following academic credentials? (Select all that apply.)
a firearms maintenance degree from an accredited community college
a juris doctorate degree from an accredited law school
an accounting degree and completion of the certified public accounting exam
fluency in one or more relevant foreign languages
Answers
Answer: i know its def a firearms maintenance degree from an accredited community college
Explanation:
The Dallas Development Corporation is considering the purchase of an apartment project for $118.000. They ertimate that they will receive $18,150 at the end of each year for the next 10 years. At the end of the 10th year, the apartment project will be worth nothing. Required: a. If Dallas purchases the project, what will be its internal rate of return, compounded annually? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. b. If the company insists on an 8 percent return compounded annually on its investment, is this a good investment? John is considering the purchase of a lot. He can buy the lot today and expects the price to rise to $16,700 at the end of 10 years. He believes that he should earn an investment yield of 8 percent compounded annually on his investment. The asking price for the lot is $8,000. Required: a. What is the internal rate of return compounded annually on the investment if John purchases the property for $8,000 and is able to sell it 10 years later for $16,700 ? Note: Do not round your intermediate calculations and round your final answer to 2 decimal places. b. Should he buy the lot?
Answers
a. The internal rate of return (IRR) for the apartment project is 14.59%, indicating the annualized return the project is expected to generate.
b. The lot's internal rate of return (IRR) is 6.81%, lower than the desired yield of 8%, suggesting it is not a good investment.
a. The internal rate of return (IRR) for the apartment project is approximately 14.59% compounded annually.
b. To determine if the investment is good, we compare the IRR (14.59%) to the desired return of 8%. Since the IRR is higher than the desired return, this investment is considered good.
a. The internal rate of return (IRR) for John's investment in the lot is approximately 6.81% compounded annually.
b. To decide whether to buy the lot, we compare the IRR (6.81%) to the desired yield of 8%. Since the IRR is lower than the desired yield, John should not buy the lot.
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