Digital Valley Sdn Bhd (DVSB), a software developer, is one of the subsidiaries of Technopro Bhd
(TB). In the course of consolidating the group accounts, it was noted that the financial statement of
DVSB was modified due to inappropriate evidence obtained in relation to company's accounts
receivable.
The auditors were not able to verify the balance of account receivable of DVSB's as they did not
receive full cooperation from the management of DVSB. The account receivable makes up 30% of
the company's current assets. Due to poor documentation of audit working papers prepared by
DVSB's auditor, the group engagement partner was unable to verify the percentage of misstatement
related to account receivable.
1. Explain the audit procedures that are required to be performed by the group engagement partner in order to address the above issues
2. Explain the type of opinion to be issued by the group engagement partner for the group's financial statements.
Answers
Answer:.
Explanation:
Related Questions
small businesses act as a catalyst for social change because
Answers
Small businesses act as a catalyst for social change because they often operate within their local communities, are more adaptable to changing circumstances, and can prioritize social responsibility in their operations.
Small businesses play a critical role in their local communities, often providing goods and services that are tailored to the specific needs of the community. This makes them well-positioned to address local social issues, such as poverty, inequality, and environmental sustainability. Additionally, small businesses are often more adaptable to changes in the business environment and can pivot quickly to address emerging social issues.
Moreover, small businesses can prioritize social responsibility in their operations, which can have a positive impact on their employees, customers, and the broader community. For example, they may adopt sustainable business practices, provide job opportunities to marginalized groups, or donate a portion of their profits to social causes. These actions can create a ripple effect in the community, inspiring others to also prioritize social responsibility.
Overall, small businesses have the potential to act as a catalyst for social change, as they are often deeply rooted in their local communities, flexible in their operations, and capable of prioritizing social responsibility.
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1. Workplaces that grow plants, such as farms, nurseries, greenhouses,
gardens, and parks are part of
Plant Systems
Animal Systems
Food Products & Processing Systems
Environmental Service Systems
Answers
Answer:
Plant Systems
Explanation:
The plant system entails the science of how plants grow. It is the study of the different types of plants and how they impact our world. Gardens, farms, nurseries, greenhouses, and parks also form part of the plant's system.
Plant Systems specialists help feed the nation by monitoring our plant food quality and safety. They provide information that aids consumers in making sensible nutritional decisions.
If you do not have a fixed rate in your loan it means
Answers
Hampton Company has a debit balance in the Fair Value Adjustment account that is associated with its Equity Securities portfolio at December 31, 2025. Which of the following statements is true regarding Hampton’s 2025 financial statements? (a) Hampton will report an unrealized holding gain in net income (b) The account balance will be reported as an addition to the Equity Securities account to report the securities at fair value on the balance sheet (c) Hampton will report an unrealized holding gain in comprehensive income (d) The debit balance represents the difference between the securities’ amortized cost and their fair value and is reported as an additional to the Equity Securities account on the balance sheet
Answers
Unrealized holding loss in comprehensive income for the debit balance in the Fair Value Adjustment account associated with its Equity Securities portfolio at December 31, 2025. The correct answer is (d).
The debit balance represents the difference between the securities’ amortized cost and their fair value and is reported as an additional to the Equity Securities account on the balance sheet. A debit balance in the fair value adjustment account indicates that the fair value of the equity securities in the portfolio has declined below their amortized cost.
This decline represents an unrealized loss that is reported as a reduction to the Equity Securities account on the balance sheet, rather than as an expense in the income statement. Therefore, there will be no unrealized holding gain reported in net income or comprehensive income. The correct answer is (d).
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on july 1, 20x8, how should the company classify and account for its receipt of cpms from the nova anglia government?
Answers
The company should classify the receipt of CPMS from the Nova Anglia government as revenue. The company should record the receipt of CPMS as a debit to the company's cash account and a credit to the company's revenue account.
When was the first CPMS were released?On July 1, 20X8, the first CPMs were released, covering the vintages 20X8, 20X9, and 20Y0. The marketplace for the purchasing, selling, or exchange of these permissions was not yet established at that time. The company calculates that a CPM was worth $750 as of July 1, 20X8. Since trade of CPMs did not start until late August 20X8, this estimate is dependent on subjective data, such as observations of various EAs in other states. In comparison to every firm's yearly CO2 emissions for the twelve-month period ending December 31, 20X7, the amount of permits awarded was established as a baseline. While allowances for the 20X9 and 20Y0 vintages were given in levels that progressively decline from the 20X7 emissions foundation by 1% and 2 %, respectively, the 20X8 vintage was issued in a quantity that would negate the same level of emissions by the user from 20X7.To learn more about company refer to:
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prepare a memo that addresses the following questions: 1. which if any of the resources are overallocated? 2. assume that the project is time constrained and try to resolve any overallocation problems by leveling within slack. what happens? 3. what is the impact of leveling within slack on the sensitivity of the network? include a gantt chart with the schedule table after leveling within slack. 4. assume the project is resource constrained and resolve any overallocation problems by leveling outside of slack. what happens?
Answers
A sample memo that addresses the following questions: 1. "which if any of the resources are overallocated?" is given below:
To: All the directors
Make an evaluation of the resources in use and find out which ones are overallocated and give me an immediate feedback.
What is a Memo?This refers to the term that is used to describe and define a written communication. These messages, which are sometimes abbreviated "memos," are typically succinct and made to be quickly comprehended. Thus, memos can effectively convey crucial information in order to implement dynamic changes.
Hence, it can be seen that from the sample memo above, you would have a good idea on how to make subsequent memos and this would help you achieve your goals and answer the questions, and most importantly, pass your class test and exercises.
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Which choice best describes differences in corporate decision-making
between the United States and the European Union?
A. Workers in the United States are usually more involved in
corporate decision-making.
B. Workers in the European Union are involved less in decisions over
labor.
ternati
C. Workers in the European Union are usually more involved in
corporate decision-making.
D. Workers in the European Union are usually less active in trade
unions.
expand
SUBMIT
Answers
Answer:
C.WORKERS in the European union are usully move involved in corporate decision-makng
Answer: workers in the European Union are usually more involved in corporate decision-making.
Explanation:
A p e x
The following selected accounts and normal balances existed at year-end. Make the four journal entries required to close the books: Accounts receivable $45,000, Prepaid insurance 4,500, Land 50,000, Accounts payable 39,000, Notes payable 55,000, Retained earnings 12,000, Dividends 2,000, Fees earned revenue 65,000, Selling expenses 34,500, Administrative expenses 12,750, Miscellaneous expense 1,250.
Answers
The required Journal Entries that are required to close the book for the selected four accounts at year-end include the following:
Journal Entries:
December 31,
Debit Fees earned revenue $65,000
Credit Income Summary $65,000
To close the Fees revenue to income summary.
Debit Income Summary $34,500
Credit Selling expenses $34,500
To close the selling expenses to income summary.
Debit Income Summary $12,750
Credit Administrative expenses $12,750
To close the administrative expenses to income summary.
Debit Income Summary $1,250
Credit Miscellaneous expense $1,250
To close the miscellaneous expenses to income summary.
Data Analysis:
1. Accounts to be closed to Income Summary are:
Fees earned revenue $65,000 Income Summary $65,000
Income Summary $34,500 Selling expenses $34,500
Income Summary $12,750 Administrative expenses $12,750
Income Summary $1,250 Miscellaneous expense $1,250
2. Assets and Liabilities accounts:
Accounts receivable $45,000
Prepaid insurance 4,500
Land 50,000
Accounts payable 39,000
Notes payable 55,000
Retained earnings 12,000
Closed to Retained earnings: Dividends 2,000
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In order for a person to recognize needs that are not being met and make a career out of fulfilling unmet needs, that person must have _____.
Answers
Answer:
sight and foresight
Select the correct location on the expression. Joanna uses this exponential expression to determine the value of her savings account in five years. Which term represents the initial value of her account?.
Answers
In the given case The term 5000 in the exponential function is representing the initial amount.
A mathematical function can be defined as a formula where the f (x) = an x is an exponential function. The transcendental number e, which is similar to, is the exponential-function basis that is most frequently encountered.When b > 0 and b 1, an exponential function has the form f(x) = bx. The base is b, and the exponent is x, just like in any exponential expression. The development of bacteria is an illustration of an exponential function.To know more about Functions here
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Answer:
choose the 5,000 thing
Explanation:
A property's value is dropping because the neighboring property's yard is filled with trash. What's this an example of
Answers
An example of purchase money is when property's value is dropping because theneighboring property's yard is filled with trash.
What is a purchase money?Purchase money can be regarded as the consideration paid or to be paid by the purchaser of property.
It involves a debt thst is been secured by the property purchased with the money borrowed
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decreases as the price is raised, Suppose that the demand tor ol (per capita per year) is D(p)=1050/p barrels, where p is the price per barrel in dollars. Find the demand when p=40. Estimate the decrease in demand if p rises to 41 and the increase in demand it p is decreased to 39 . The demand D(40)= The decrense in demand = barrels. The increase in demand = barrels.
Answers
The demand for oil (per capita per year) is given by the equation D(p) = 1050/p barrels, where p is the price per barrel in dollars. When p = 40, the demand is D(40) = 1050/40 barrels. To calculate this value, we divide 1050 by 40 to get 26.25 barrels.
To estimate the decrease in demand if the price rises to 41, we need to find the difference between D(40) and D(41). D(41) = 1050/41 barrels. Subtracting D(41) from D(40) gives us the decrease in demand.
Similarly, to estimate the increase in demand if the price is decreased to 39, we calculate the difference between D(39) and D(40). D(39) = 1050/39 barrels. Subtracting D(40) from D(39) gives us the increase in demand.
The decrease in demand = D(40) - D(41) barrels.
The increase in demand = D(39) - D(40) barrels.
The given demand function D(p) = 1050/p represents an inverse relationship between price and demand. As the price per barrel increases, the demand for oil decreases. When p = 40, we substitute this value into the demand function to find the corresponding demand, which is 1050/40 barrels.
To estimate the decrease in demand if the price rises to 41, we calculate D(41) using the demand function. Then, we subtract D(41) from D(40) to find the decrease in demand.
Similarly, to estimate the increase in demand if the price is decreased to 39, we calculate D(39) using the demand function. Then, we subtract D(40) from D(39) to find the increase in demand.
In both cases, the difference between the demands represents the change in demand due to a change in price.
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pleaseeeee help meeeee
Answers
Answer:
Passport
Annual finance charge =$450
Total annual cost = $2970
Traveller
Annual finance charge = $425
Total annual cost = $2945
Explorer
Annual finance charge =$400
Total annual cost = $2950
The travellers card is the best
Explanation:
Passport
Annual finance charge = 18% x 2500 = $450
Total annual cost = $2500 + 450 + 20 = 2970
Traveller
Annual finance charge = 17% x 2500 = $425
Total annual cost = $2500 + 425 + 20 = 2945
Explorer
Annual finance charge = 16% x 2500 = $400
Total annual cost = $2500 + $400 + $50 = 2950
The traveller is the best for a consumer because it has the lowest cost
What is the danger of having a lot of debt?
(brainlyest)
Answers
Answer:
probably not paying it off in time or something
Explanation:
Using SMART goal-Written criteria blank refers to asking how ?
A.measurable
B.timely
C.specific
D.realistic
E.attainable
Answers
Answer:
A.measurable
Explanation:
Smart is an acronym Specific, Measurable, Achievable,
Realistic and Timely. These are attributes that guide how goals or objectives should be set.
The question of " how" is answered by the attribute 'measurable.'
In this criterion, measurable describes the specific criteria to be used and the ways of measuring progress toward accomplishing the goal. The path to achieving the objective must be meaningful and motivating.
Answer:
Measurable
Explanation:
Consider the dimensions of ethical behavior and discuss the following questions:
1. Who has the right to know how many sick days an employee has taken?
2. If a foreign company publishes private information about an employee who works in a local company and that information was stolen from the local company, is the local company to blame for not protecting the employee's information better?
Answers
1. The person who has the right to know how many sick days an employee has taken is the employer.
2. If a foreign company publishes private information about an employee who works in a local company and that information was stolen from the local company, the local company may be blamed for not protecting the employee's information better but it is the foreign company to blame ultimately for not acquiring the information legally.
Ethical behavior refers to the standards of conduct that demonstrate the right behaviors in specific situations. In dimensions of ethical behavior, the following are discussed: integrity, compassion, fairness, respect, responsibility, and professionalism.
1. Employers generally have the right to know how many sick days their employees have taken. It is a matter of company policy that employers keep track of the number of sick days taken by their employees. In some cases, labor laws or union contracts may require employers to track the number of sick days taken by employees. However, employers should protect the privacy of their employees and ensure that their sick time information is not shared without their consent.
2. The local company has a responsibility to protect its employees' private information from unauthorized access or theft. However, the foreign company is ultimately responsible for publishing the private information of the local company's employee. The foreign company should have exercised better judgment and ensured that the information they were publishing was obtained legally and ethically. In the case where the information was stolen, the local company may have taken all the necessary precautions to protect its employees' information, but the foreign company still bears the responsibility for publishing it.
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Describe one accountability issue of a business
Answers
Answer:
Accountability in the workplace is about employees taking responsibility and ownership for their decisions, actions, performance and behaviour. Accountability in the workplace is also about building trust and staying committed to doing the right thing for the business consistently.
QUESTION 7 of 20: Your savings account pays 2.5% interest per year. How much interest does the account pay per month.
a) .02%
b) 04%
c) 21%
d) 43%
Answers
Answer:
a) .02%
Explanation:
One year has 12 months.
The interest rate per year = 2.5%
Interest earned per month will be
=2.5% / 12
=0.02%
Answer:
c 21%
Explanation:
i got it right
What are the steps to customize a slide show?
Go to Slide Show tab, select Hide Slide, select the slides to hide, and save.
Go to Slide Show tab, select Set Up Slide Show, select show type Custom, and save.
Go to Slide Show tab, select Custom Slide Show, select slides to be shown, and save.
Go to Slide Show tab, select Custom Slide Show, select Record Slide Show, and save.
Answers
Answer: Go to slide Show tab, select custom slide show, select slides to be shown, and save
Explanation:
Edge2020
Answer:
Go to slide Show tab, select custom slide show, select slides to be shown, and save
Explanation:
On March 1st, Jared buys Matthew's car for $10,000 and they agree that Jared will pay Matthew the full amount by June 1st. Jared begins making payments to Matthew, but on May 1st, Jared still owes Matthew $5000. On May 1st, Jared sells Sarah his motorcycle for $5000. Jared and Sarah agree that Sarah will not pay Jared $5000, but Sarah will instead pay Matthew the $5000 Jared still owes him. Matthew agrees to receive the $5000 from Sarah. After making this agreement, Jared changes his mind and tells Sarah to pay him on May 1st and not Matthew. Can Jared do this
Answers
Answer: No, an assignment for consideration is irrevocable
Explanation:
The above scenario explains an assignment. An assignment simply occurs when an individual who is regarded as the assignor, transfers benefits to another person who is the assignee.
With regards to the situation in the question, it is not possible for Jared to change his mind and tells Sarah to pay him on May 1st and not Matthew. This is because this is an assignment for consideration which in this situation is irrevocable. The assignment will be deemed ineffective if the assignor doesn't receive consideration for the agreement.
Unlike a limited partnership, a general partnership has which of the following?
O A. An unlimited number of partners.
B. Option to declare bankruptcy without penalty.
C. Unlimited liability for all partners.
D. Stockholders and a board of directors.
Answers
Answer:
C. Unlimited liability for all partners.
Explanation:
A general partner has unlimited liability to the debts of the business. It follows that in a general partnership business, all partners will have unlimited liability to business debts.
A general partnership is not a separate entity from its owners. Assets and liabilities of the business will be treated as those of the partners. Should the business fail in paying its debts, the partners' personal properties may be sold to clear the debts.
TRUE OR FALSE: when you have a credit card or loan, it is better to have higher interest rate
Answers
Answer: Lower interest rate are better. Higher interest rate is worse
Explanation:
A lower interest rate is better when borrowing money through credit cards or loans. You will be paying less. High interest rates are only good when you are the lender.
based on the following information compute cash flow financing activities purchase opf shor term investments
Answers
To compute cash flow from financing activities related to the purchase of short-term investments, we need to consider the sources of funds used to finance this investment.
If the investment was financed through the issuance of debt or equity, then this would be classified as a financing activity. However, if the investment was financed using cash reserves or cash generated from operations, then this would not be classified as a financing activity.
In general, financing activities refer to activities related to raising capital from investors or creditors. This can include issuing stocks or bonds, repaying debt, or paying dividends. The goal of financing activities is to ensure that the company has the necessary funds to operate and grow its business.
On the other hand, investments refer to the purchase of long-term assets or securities. This can include investments in property, plant, and equipment, as well as investments in stocks or bonds. The goal of investments is to generate returns over the long-term.
In conclusion, to compute cash flow from financing activities related to the purchase of short-term investments, we need to understand the source of funds used to finance the investment. If the investment was financed through debt or equity, then this would be classified as a financing activity. However, if the investment was financed using cash reserves or cash generated from operations, then this would not be classified as a financing activity.
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Janet hit a wall causing a large dent in the fender of her car. She was busy at work and delayed reporting the damage to her insurer for 9 months. When she finally reported the claim, her insurer denied payment, stating, "Although such a loss is usually covered, you are required under the terms of the contract to provide prompt notification in case of loss." The prompt notification requirement is an example of a[n) O declaration O definition O insuring agreement O condition
Answers
One example of a clause in the insurance policy is the demand for fast notification. Conditions are particular requirements that policyholders must follow in order to be covered.
They specify the duties and commitments of the insured party, such as quick notification of a loss or damage to the insurer. Janet delayed reporting the damage to her insurer for nine months, failing to comply with the requirement of quick notification. As a result, the insurer declined to pay, alleging her violation of the agreement. Insurance contracts must include conditions because they specify the terms and conditions that must be met in order for coverage to be supplied.
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An examplepf a cost would be
O profit
revenue
Ofire
O salaries
Answers
a junior operator who violates a passenger restriction
What can a junior operator be charged with for violating the time restriction?
Answers
If a junior operator violates a passenger restriction, they could potentially face charges of negligence or reckless operation, depending on the specific circumstances of the violation and the laws in the jurisdiction where the violation occurred.
Additionally, the operator's employer or the company that owns the aircraft could also face penalties or fines for allowing the violation to occur. It's best to consult with a lawyer or legal professional to determine the specific charges that may apply in this situation.
While someone facing a civil negligence claim may be required to pay money to someone who was injured as a result of their acts, someone found guilty of criminal negligence may be sentenced to jail time or probation.
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four reasons why Corona virus could be harmful to economic growth??
Answers
Answer:
Employees have to be let go because social distancing is a thing
Businesses are not getting enough customers because of quarantine, which leads to them shutting down
Factories that supply stores are shut down to prevent spread in factory lines
For those with computer jobs, working from home does not give an employee as much freedom with printing or scanning as it does at work, which slows down the completion of assignments and lowering the business`s dependability
Will the grading period effect what college you will go to later on?
A (True)
B (False)
Answers
Answer: A
Explanation:
Answer:
NO
Explanation:
Tim has worked for one employer his entire career. while he was working, he participated in the employer's defined contribution plan (traditional 401(k)]. at the end of 2021, tim retires. the balance in his defined contribution plan is $2,000,000 at the end of 2020. a) what is tim's required minimum distribution for 2021 that must be distributed in 2022 if he is 68 years old at the end of 2021? b) what is tim's required minimum required for 2021 if he turns 72 during 2021? when must he receive this distribution? c) what is tim's required minimum distribution for 2021 that must be distributed in 2022 if he turns 75 years old in 2021? d) assuming that tim is 76 years old at the end of 2021 and his marginal tax rate is 32 percent, what amount of his distribution will he have remaining after taxes if he receives only a distribution of $50,000 for 2021? e) complete form 5329, page 2, to report the minimum distribution penalty in part (d). use the most recent form available.
Answers
A) Tim's required minimum distribution for 2021, which must be distributed in 2022 if he turns 68 at the end of 2021, is $72,964.
B) Tim's required minimum distribution for 2021 if he turns 72 in 2021 is $62,964. This distribution must be delivered by the end of 2021.
C) Tim's required minimum distribution for 2021, which must be distributed in 2022 if he turns 75 in 2021, is $63,964.
D) Assuming that Tim will be 76 at the end of 2021 and his marginal tax rate is 32 percent, the amount of his distribution remaining after taxes if he only receives the $50,000 distribution for 2021 is $33,600.
E) Form 5329, page 2, is used to report the minimum distribution penalty. The information provided on the form is important to accurately fill out the form in order to accurately report the correct penalty. It includes information such as the payer's name, address, social security number, name of the retirement plan from which the distribution was taken, the amount of the distribution, and the amount of any penalties due.
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Answer the following questions. For getting full mark - try not to copy paste from the notes.
1. What is the difference between interstate and intrastate commerce? [2 marks]
2. What are the ways that the government can deal with a monopoly? [2 marks]
3. What kinds of property are protected by copyrights? [2 marks]
MATH SKILLS
Frank and his wife Mara have separate investment accounts. Frank’s account has $7,680 invested in stocks and $2,560 in bonds. Mara’s total investment in stocks and bonds is $4,000 split in the same proportion as her husband’s. Write and solve a proportion to calculate how much Mara has invested in bonds. [4 marks]
Proportions
A proportion is an equation with equivalent ratios on each side. When one of the four numbers in a proportion is unknown, the proportion may be solved by using cross products to find the unknown number. Question marks or letters are frequently used in place of the unknown number.
Answer Hint:
Mara has $1,000 invested in bonds. To find the unknown value that represents the value of Mara’s bond investment, you need to know the proportion of Frank’s bond investment. Set up this equation:
Frank’s Total ÷ Frank’s Bonds = Mara’s Total ÷ Mara’s Bonds
$10,240 ÷ $2,560 = $4,000 ÷ ?
4 = $4,000 ÷ ?
$1,000 = ?
Answers
Answer:
1. You are engaging in Interstate commerce by transporting goods across state lines. Intrastate trucking means that you drive your commercial motor vehicle only within a state's boundaries and that you do not fit any of the other descriptions of interstate commerce.
2. The government can regulate monopolies through: Price capping – limiting price increases. Regulation of mergers. Breaking up monopolies.
3. Copyright, a form of intellectual property law, protects original works of authorship including literary, dramatic, musical, and artistic works, such as poetry, novels, movies, songs, computer software, and architecture.
(NOT GOOD AT MATHS LOL)