The auditor is not obligated by FASB to submit the company's other information.
An audit report is a document that provides a status update on the financial statements. This outlines the auditor's assessment of the financial statements after looking at the organization's internal controls. Investors and users of an organization can access this report to help them make wise decisions.
The auditor may include the supplemental information in financial reports, in accordance with FASB and GASB standards. Disclosures pertaining to the financial statements are included in this supplemental material. The management and investors can learn about the information that cannot be published in the financial statements by reporting this information.
Reporting on the financial statements and providing management with pertinent advice are the auditor's responsibilities. However, in some cases, FASB and GASB allow reporting on additional information in particular annual reports.
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You are going on a trip and your neighbor agrees to let your dog stay with him. Your dog ends up destroying your neighbors carpet. What insurance covers this?
answer: home owners insurance
In this scenario, the insurance coverage that may apply to the damage caused by your dog to your neighbor's carpet is called "liability insurance" or "personal liability coverage."
Liability insurance typically provides coverage for accidental damages or injuries caused by you, your family members, or your pets to others or their property.
In the given situation, if you have liability insurance as part of your homeowners or renters insurance policy, it may cover the cost of repairing or replacing your neighbor's damaged carpet. Liability insurance is designed to protect you from financial responsibility for unintentional damages or injuries that you or your property may cause to others.
It's important to review your insurance policy or contact your insurance provider to determine the specific coverage and limits of your liability insurance. They can guide you through the claims process and provide more detailed information on how your policy covers incidents involving damage caused by your dog.
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. Distinguish between the short run and the long run as they relate to macroeconomics. Why is the distinction important
Answer:
1. In the short run, wages and other prices are stagnant making the economy to run below or above the normal level. In the long run, wages and prices are fully flexible, and this allows the economy to run at its natural level.
2. This distinction is important because it helps us to see how difficult it could be to sustain the real gross domestic product and employment rates thus making the economy to run at a normal level or achieve its full potentials.
Explanation:
Stickiness or stagnancy of wages can be seen in the fact that it is most time difficult to fluctuate or change the wages of workers overtime. The prices of most goods are also sticky when they remain unchanged over a given period of time. These conditions exist in the short run, and make the economy to run above or below its full potentials. The real GDP and unemployment levels are negatively affected.
In the long run, flexibility of wages and prices are achieved and this makes the economy to run at its full potentials. The real GDP as well as the employment rate are at their optimum level then.
SWOT analysis is not a subjective process.
True
False
SWOT analysis is not a subjective process. The statement stated above is False.
What do you mean by Analysis?An analysis is significant because it arranges and interprets data before structuring it into presentable knowledge that is applicable to practical applications.
A subjective evaluation of facts that is logically arranged according to the SWOT structure to aid in understanding, presentation, discussion, and decision-making is known as a SWOT analysis.
Internal elements, such as strengths and weaknesses, rely on the goal, project, or initiative under analysis. What is a strength for one purpose or project could be a drawback for another since it is subjective to the chosen objective.
Therefore, The statement is false. A SWOT analysis is a subjective assessment of data.
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name two recent kmi/kmv initiatives that carry out by pick n pay
The two recent kmi/kmv initiatives that carry out by pick n pay are:
Feed the nation Food gardening education project.What is the project about?The project is to feed the nation and it is one that partners with Pick n Pay, together to join their efforts to give an opportunity to Feed The Nation.
Note that Feed The Nation is seen to be a collectively raised amount of money and provided a lot of millions of meals to children and other people who are vulnerable.
Hence, The two recent kmi/kmv initiatives that carry out by pick n pay are:
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When the quantity demanded of a goods is equal to the quantity supplied of that goods, then
Consumer and producer plans only align at the equilibrium price, which is reached when the quantity demanded by consumers and the amount supplied by producers, respectively, are both equal.
Describe what an equilibrium price is and give an illustration.Every market experiences the price at which supply and demand are balanced. The equilibrium price of coffee in the market is therefore $6 per pound. The quantity that is required and supplied at the equilibrium price is the equilibrium quantity.
When supply and demand are equal or nearly equal, the cost to the customer of an item or service at the market-clearing price, sometimes referred to as the equilibrium price, happens. The customer can access as many products as they want, and the producer or seller.
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What is VidxTra by Ekeocha Roland?
The VidxTra by Ekeocha Roland is a brand new technology that creates high converting videos and video pages.
What is technology?Technology refers to the tools, methods, techniques, and systems that are developed and used to solve problems, accomplish tasks, or achieve specific goals.
It includes both physical and non-physical products and services, such as machines, software, networks, and information. Technology has been an essential part of human history and has played a crucial role in shaping our societies and cultures.
The VidxTra by Ekeocha Roland is a brand new technology that creates high converting videos and video pages.
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Dribbling in field hockey is when you.
Answer:
Dribbling is a technique used in field hockey to move the ball forward using small touches with a hockey stick.
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $20,361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 1,850 Outstanding checks 945 Additionally, a $37 check written and recorded by the company was incorrectly recorded by the bank as a $73 deduction. The adjusted cash balance per the bank records should be:
Answer:
Bank Statement Balance = $20361
Deposit In Transit. = $1850
Outstanding Checks. = $945
Additional Check. = $73-$36
Adjusted Cash Balance. = $23193
A rational decision maker
Answer:yes
Explanation:because yes
Which statements are true about making decisions? Select ALL that apply
A. Good decisions result in positive outcomes.
B. Decisions require making trade-offs.
C. Clear rationales are an indication that a decision is good.
D. The first step in the decision-making process is collecting information.
Answer:
D And C
Explanation:
because clear rational thinking and collecting information gives you knowledege Deal with it and you'll be fine
Briefly describe a purchase you made where the customer service level had an effect on the product you selected or where you purchased it?
Answer:
pick 'n pay through daily promotions
Lyric has been asked to create an online career portfolio for her business class, but she doesn't know where to begin. What is the BEST advice Lyric's teacher can give her to help her successfully complete her assignment?
А. The links to your personal social media accounts must be listed.
В. Your top priority should be a cover letter and sample resume.
C. Avoid posting any photos of yourself or your previous experiences.
D. Include a video to introduce yourself and your interests and skills.
Pick C Because It's C So Yeah P8c C
Answer:
the answer is D
Explanation:
this is because showing a video of yourself introducing you skills and interests can be a good thing when you go look for a job and the boss see this in your portfolio
the purchase of savings bonds by individuals allows the US government to:
A make sure that the burden of nation debt is spread more equitably
B concentrate on microeconomics strategy
C eliminate crowding out
D balance supply and demand
E create a perfect competition
why does call of duty make so much games?????
Answer:
because they want money why else
s
t
u
p
i
d
Explanation:
Innovation is defined as:
A. an exciting new way of doing something.
B. a dangerous development in a story.
c. an adventure story that nobody has read.
D. a technological term for hypertexts.
Innovation is Defnied As:
A. An exciting new way of doing something
Answer:
A. an exciting new way of doing something.
Explanation:
Innovation means a better, faster, and cost-friendly way of performing tasks. Innovation does not have to be a brand new product or service but also a significant improvement in the present situation. New and high utility products are emerging in the market every day due to innovation
Being innovative is one of the traits of entrepreneurs. They must think of new and better ways of solving customer problems. Competition in business makes firms to be innovative and develop unique and existing ways of reaching out and winning customers.
1. Residents of the nation of Border Kingdom can forgo production of digital televisions and utilize all available resources to produce 300 bottles of high-quality wine per hour. Alternatively, they can forgo producing wine and instead produce 60 digital TVs per hour. In the neighboring country of Coastal Realm, residents can forgo production of digital TVs and use all resources to produce 150 bottles of high-quality wine per hour, or they can forgo wine production and produce 50 digital TVs per hour. In both nations, the opportunity costs of producing the two goods are constant.
a. What is the opportunity cost of producing digital TVs in Border Kingdom? Of producing bottles of wine in Border Kingdom?
b. What is the opportunity cost of producing digital TVs in Coastal Realm? Of producing bottles of wine in Coastal Realm?
2. Based on your answers to Problem above, which nation has a comparative advantage in producing digital TVs? Which nation has a comparative advantage in producing bottles of wine?
3. Critics of the North American Free Trade Agreement (NAFTA) suggest that much of the increase in exports from Mexico to the United States now involves goods that Mexico otherwise would have exported to other nations. Mexican firms choose to export the goods to the United States, the critics argue, solely because the items receive preferential treatment under NAFTA tariff rules. What term describes what these critics are claiming is occurring with regard to U.S.-Mexican trade as a result of NAFTA? Explain your reasoning.
4. Identify whether each of the following items creates a surplus item or a deficit item in the current account of the U.S. balance of payments.
a. A Central European company sells products to a U.S. hobby-store chain.
b. Japanese residents pay a U.S. travel company to arrange hotel stays, ground transportation, and tours of various U.S. cities, including New York, Chicago, and Orlando.
c. A Mexican company pays a U.S. accounting firm to audit its income statements.
d. U.S. churches and mosques send relief aid to Pakistan following a major earthquake in that nation.
e. A U.S. microprocessor manufacturer purchases raw materials from a Canadian firm.
5. Explain how the following events would affect the market for the Mexican peso, assuming a floating exchange rate.
a. Improvements in Mexican production technology yield superior guitars, and many musicians around the world buy these guitars.
b. Perceptions of political instability surrounding regular elections in Mexico make international investors nervous about future business prospects in Mexico.
6. Explain how the following events would affect the market for South Africa?s currency, the rand, assuming a floating exchange rate.
a. A rise in U.S. inflation causes many U.S. residents to seek to buy gold, which is a major South African export good, as a hedge against inflation.
b. Major discoveries of the highest-quality diamonds ever found occur in Russia and Central Asia, causing a significant decline in purchases of South African diamonds.
Answer:
1) a. 0.2 TVs , 5 bottles
b. 0.33 TVs , 3 bottles
2) Coastal realm has a comparative advantage in producing digital TVs.
Border Kingdom has a comparative advantage in producing bottles of wine.
Explanation:
1)
a. In Border Kingdom:
Opportunity cost of producing 300 bottles of wine = production of 60 TVs.
Thus opportunity cost of producing 1 bottle of wine = 60/300 = 0.2 TVs
Opportunity cost of producing 1 TV = 300/60 = 5 bottles.
b. In Coastal realm:
Opportunity cost of producing 1 bottle of wine = 50/150 = 0.33 TVs
Opportunity cost of producing 1 TV= 150/50 = 3 bottles
2)
From the above, it is seen that the opportunity cost of producing 1 wine bottle is lower for Border Kingdom and the opportunity cost of producing TV is lower for Coastal Realm, therefore, the country Border Kingdom should produce wine bottles and Coastal Realm should produce TV's.
Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 320 units at $10 13 Sale 180 units 22 Purchase 360 units at $12 29 Sale 300 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. $ per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. $ c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. $ PreviousNext
a. To calculate the weighted average unit cost after the October 22 purchase, we need to calculate the cost of the goods available for sale and divide it by the total number of units available for sale.
First, let's calculate the cost of the goods available for sale:
Oct. 1 inventory: 320 units x $10 = $3,200
Oct. 22 purchase: 360 units x $12 = $4,320
Total cost of goods available for sale: $3,200 + $4,320 = $7,520
Next, let's calculate the total number of units available for sale:
Beginning inventory: 320 units
Oct. 22 purchase: 360 units
Total units available for sale: 320 units + 360 units = 680 units
Finally, we can calculate the weighted average unit cost:
Weighted average unit cost = Cost of goods available for sale / Total units available for sale
= $7,520 / 680 units
= $11.06 per unit (rounded to two decimal places)
Therefore, the weighted average unit cost after the October 22 purchase is $11.06 per unit.
b. To determine the cost of goods sold on October 29, we need to multiply the number of units sold by the weighted average unit cost.
From the information given, 180 units were sold on October 13 and 300 units were sold on October 29, for a total of 480 units sold.
Using the weighted average unit cost calculated in part (a), we have:
Cost of goods sold = 480 units x $11.06 per unit
= $5,308.80 (rounded to two decimal places)
Therefore, the cost of goods sold on October 29 is $5,308.80.
c. To determine the inventory on October 31, we need to subtract the number of units sold from the total units available for sale and then multiply that by the weighted average unit cost.
From the information given, 180 units were sold on October 13 and 300 units were sold on October 29, for a total of 480 units sold.
Total units available for sale: 680 units
Units sold: 480 units
Units in inventory on October 31: 680 units - 480 units = 200 units
Using the weighted average unit cost calculated in part (a), we have:
Inventory on October 31 = 200 units x $11.06 per unit
= $2,212 (rounded to two decimal places)
Therefore, the inventory on October 31 is $2,212.
yes loloolololololoolloolololololololoolololololol
Answer:
yup the true maeningnof lol Is laugh aloud or lots of love depending on how it's used
You can earn 3% interest on a CD and 1.25% interest on a savings account.
How much more interest will the CD earn for one year if you make a deposit of
$1,650?
Financial Lit, please help!!
Answer:
The CD will earn $49.50 more interest than the savings account for one year if you make a deposit of $1,650.
Which is a "pro" of investing in bonds?
O A. Bonds are a high-risk investment
B. Bond rates tend to be more stable than stocks
C. Bonds pay a monthly dividend
D. Bonds offer higher yields than most stocks
Dents and Dings Auto Body buys paint with a list price of $33,000. If the supplier extends trade discounts of 30/35/20, what is the trade discount amount?
• $1,617
• $12,012
• $20,988
• $31,383
Answer:
20,988
Explanation:
what is the importance of having a good management
Answer:
Employees need to know what is expected of them; having clear expectations helps employees do their job well. A good manager will convey his expectations and make sure employees understand them. He also will make himself available to employees, so they can have the opportunity to clarify any confusion they may have.
Explain the effects of low price-guarantee on the price.
Answer:
Low price guarantees have adverse effects on consumer behavior. These strategies can cause consumers to become suspicious of the offer and may avoid making the purchase all together.
Low price guarantee is a policy where the seller offer a price is guaranteed to match or beat any other lower price in the market.
Usually, the low price guarantees does persuade the consumers to make purchase, but, it can also have adverse effects on consumer behavior at times.
The strategy of low price-guarantee on the price of the product can cause the consumers to become suspicious and thus, may lead to a decision to avoid making the purchase.
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What is the difference between gross and net pay?
A. There is no difference between gross pay and net pay.
B. Gross pay is the amount you earn; net pay is the amount you
receive after deductions.
C. Net pay is always more than gross pay.
D. Net pay is the amount you earn; gross pay is the amount you
receive after deductions.
the distinction between gross and net wages Your gross pay is how much you are paid; your net pay is how much you are paid after deductions. As a result, choice (B) is accurate.
Generally speaking, net wages" refers to the sum of money an employee receives after all withholdings and taxes have been deducted from their gross pay. It serves as a representation of the real pay that an employee receives.
To be clear, the appropriate sentence describing the distinction between gross compensation and net paid is Net pay is the amount you receive after deductions; gross pay is the amount you earn.
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QUESTION TWO
a) A bakery bakes cakes under the brand name “super cakes.” Irene Juma, the manageress does not know the cost of each cake. She therefore gathers data on the total cost of each day’s production for the last 10 days. The results are shown in the table below:
Day Number of cakes (‘00’ units) Total cost (Sh. ‘000’)
1 22.5 23.0
2 21.0 21.6
3 27.5 23.3
4 21.5 24.0
5 30.0 28.2
6 20.0 22.4
7 24.0 23.1
8 26.5 25.3
9 18.3 20.1
10 17.0 16.5
Required:
i) Estimate the total cost function using the ordinary least squares method. State the fixed cost and unit cost. (11 marks)
ii) If each cake is sold at Sh. 10, determine the break even number of cakes. (3 marks)
b) Two different models are available for the same machine. The production statistics (number of units produced per hour) of these two models are given below. The data was collected on different days.
Model A: 180, 176, 184, 181, 190, 137,
Model B: 195, 194, 190, 192, 187, 185, 187,
Will you conclude that Model A and Model B have the same productivity (6Marks)
a) i) Using ordinary least squares, the estimated total cost function for the bakery's "super cakes" is Total Cost (Sh. '000') = 4.07 + 0.81 * Number of cakes ('00' units).
ii) The break-even number of cakes is approximately 21.42 cakes.
b) Model A has an average productivity of 171.33 units per hour, while Model B has an average productivity of 190.71 units per hour. We cannot conclude that they have the same productivity.
a) i) To estimate the total cost function using the ordinary least squares method, we can use the given data on the number of cakes and total cost for the last 10 days. Let's denote the number of cakes as X and the total cost as Y.
Using a linear regression model, we can find the equation of the line that best fits the data. The general form of the linear equation is Y = a + bX, where a represents the fixed cost and b represents the unit cost.
We can calculate the values of a and b using the ordinary least squares method. This involves minimizing the sum of the squared differences between the observed total cost and the predicted total cost based on the equation.
After performing the calculations, we obtain the following results:
a = 4.07 (fixed cost)
b = 0.81 (unit cost)
Therefore, the estimated total cost function for the bakery's production of "super cakes" is:
Total Cost (Sh. '000') = 4.07 + 0.81 * Number of cakes ('00' units)
ii) To determine the break-even number of cakes, we need to find the number of cakes at which the total cost equals the total revenue. Since each cake is sold at Sh. 10, the revenue function can be expressed as Revenue = 10 * Number of cakes ('00' units).
Setting the total cost function equal to the revenue function, we have:
4.07 + 0.81 * Number of cakes = 10 * Number of cakes
Simplifying the equation, we find:
0.19 * Number of cakes = 4.07
Dividing both sides by 0.19, we get:
Number of cakes = 21.42
Therefore, the break-even number of cakes for the bakery is approximately 21.42 cakes.
b) To conclude whether Model A and Model B have the same productivity, we can analyze the production statistics provided for both models. Based on the data, we can calculate the mean (average) number of units produced per hour for each model.
Model A: (180 + 176 + 184 + 181 + 190 + 137) / 6 = 171.33
Model B: (195 + 194 + 190 + 192 + 187 + 185 + 187) / 7 = 190.71
From the calculated means, we can see that Model A has a lower average productivity (171.33 units per hour) compared to Model B (190.71 units per hour). Therefore, based on the given data, we cannot conclude that Model A and Model B have the same productivity.
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Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator.
The GDP deflator for this year is calculated by dividing the 1) ________
a. Value of all goods and services produced in the economy in the base year.
b. Value of all goods and services produced in the economy this year.
c. cost of a given market basket of goods and services using
2) ______ a. the base year's prices
b. this year's prices by the
3) ________
a. Value of all goods and services produced in the economy in the base year
b. Value of all goods and services produced in the economy this year
c. cost of a given market basket of goods and services using
4) ______
a. the base year's prices
b. this year's prices
the CPI reflects only the prices of all goods and services 5) _______
a. produced domestically
b. bought by consumers
Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in?
a. GDP Deflator
b. CPI
Answer:
b
b
a
a
b
b
Explanation:
Callie Brent's credit card statement for March 31 showed a previous balance of $210.40 and new purchases of $22.31 on 3/11, $12.11 on 3/18, and $34.85 on 3/23. She made a payment of $210.40 on 3/27. What is Callie's new balance?
If Callie Brent's credit card statement for March 31 showed a previous balance of $210.40 and new purchases of $22.31 on 3/11, $12.11 on 3/18, and $34.85 on 3/23. She made a payment of $210.40 on 3/27. What is Callie's new balance is $69.27.
What is the new balance?Let make use of this formula to determine the new balance
New balance = Previous balance + 3 / 11 ew purchase + 3 / 18 New purchase+ 3 / 23 New purchase - Payment
Let plug in the formula
New balance = $210.40 + 22.31 + $12.11 + 34.85 - 210.40
New balance = $69.27
Therefore we can conclude that the new balance is the amount of $69.27.
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QUESTION #1 - IN YOUR OPINION, what are the three (3) most important HR laws? List your 3 most important laws, explain what the law is, why you believe it is important, and how businesses can ensure t hey never violate it.
The three most important HR laws in the United States are:
Title VII of the Civil Rights Act of 1964Americans with Disabilities ActFair Labor Standards Act (FLSA)What are some HR Laws ?Title VII of the Civil Rights Act of 1964 outlaws any type of discrimination based on race, color, religion, sex, or national origin in employment fields. In similar fashion, the Americans with Disabilities Act (ADA) strictly forbids discrimination against individuals who have disabilities regarding job opportunities, public accessibility, transportation, telecommunications, and government services.
The Fair Labor Standards Act (FLSA) seeks to guarantee citizens a minimum wage, proper overtime pay, an array of recordkeeping guidelines, and youth labor standards throughout the United States.
In order to guarantee their employees safety from all potential forms of inequity and manipulation at work, businesses must adhere to such laws by creating policies and procedures which conform faithfully to the mentioned regulations. Furthermore, businesses should ensure that their personnel comprehend the importance of inclusiveness, fair labor oppotunities and constantly evaluate their Human Resource strategies to guarantee compliance with these norms.
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If a vendor has correctly used marginal analysis to select its stock levels for the day (as in the newsperson problem in the text), and if the profit resulting from the last unit being sold (Cu) is $120 and the loss resulting from that unit if it is not sold (Co.) is $360, which of the following is the probability of the last unit being sold?
The probability of the last unit being sold is mathematically given as
x Greater than 0.75
What is the probability of the last unit being sold i?Generally, the equation forthe Probability is mathematically given as
\(P= P\leq C_{u}/(C_{u}+C_{o})\)
Therefore
P = 120/(120+360)
P= 120/480
P=0.25
P represents the likelihood that a unit will not be sold, whereas 1-p represents the likelihood that a unit will be sold.
1-p = 1-0.25 = 0.75
In conclusion, The likelihood of the last unit selling should be higher than 0.75
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Costa Rica is a top exporter of coffee. The highest-quality coffee is sold abroad, and the lower-quality coffee is consumed by the native Costa Rican people.
Which basic economic question is not addressed in this information?
A What to produce?
B Why to produce?
C How to produce?
D For whom to produce?
The basic economic question not addressed in this information is for whom to produce . Option D is an appropriate response.
What are the basic economic questions?
Economists address these three questions:
what to producehow to producefor whom to produceThe problem of whom to produce deals with the issue of deciding the category of people who will consume the goods. To make items for the wealthy or the impoverished. Due to a lack of resources, the economy must choose for whom to produce.
Every good created is made for a certain section of society because no single product can satisfy every section of society due to variations in consumer purchasing power.
Hence, Option D is an appropriate response
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