management estimates the company's allowance for doubtful accounts as $200,000, and the auditors develop an estimate that suggests that the amount should be between $230,000 and $250,000. the factual misstatement in this situation is
Answers
Inaccuracies where there is no room for question and there is proof to back them up. Projected: The auditor's best projection of population-level inaccuracies, typically based on sampling.
What role of factual misstatement?Misstatements that are factually incorrect are ones that are without dispute. A blatant violation of an IFRS standard, such as the failure to disclose EPS for a listed firm, would be an example of a clear violation and would indicate that the financial statements are wrong.
Therefore, The company's provision for doubtful accounts is valued at $200,000 by management, and the auditors' estimate suggests that it should actually be between $230,000 and $250,000. In this instance, there is no factual error.
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Related Questions
On January 1 of the current year, three individuals organized Northwest Company as a corporation. Each individual invested $ 10,000 cash in the business. On December 31 of the current year, they prepared a list of resources owned (assets) and debts owed (liabilities) to support a company loan request for $ 70,000 submitted to a local bank. None of the three investors had studied accounting. The two lists prepared were as follows: Required: Prepare a short memo in which you discuss the following:
(a) Which of these items do not belong on the balance sheet? (Bear in mind that the company is considered to be separate from the owners.)
Answers
The organizers of the Northwest Company should remove their initial investment of $30,000 from the company's balance sheet since it is not an asset or liability.
The balance sheet is a financial report that provides information on a company's assets, liabilities, and equity at a certain time. In a balance sheet, all items that make up assets and liabilities should be included.
Here are the items that do not belong on the balance sheet:Investor's InvestmentIn this case, the Northwest Company's three organizers invested $ 10,000 in the business each. This investment is what gave birth to the company. It's not an asset or a liability, and as such, it should not be included in the balance sheet.
The funds invested by the three individuals cannot be part of the balance sheet as it was used to create the company and are not assets.The company's assets and liabilities are two different and separate categories, and the initial investment of $ 30,000 by the three individuals is not one of these categories.
A company's balance sheet reflects the company's assets, liabilities, and shareholder equity, which means that an individual's investment in the company is not on the balance sheet.
Conclusion The balance sheet is an essential financial statement that provides information on a company's financial position. The organizers of the Northwest Company invested $ 10,000 each to start the business. The company's balance sheet should not include the $30,000 investment since it does not count as an asset or a liability.
In conclusion, the organizers of the Northwest Company should remove their initial investment of $30,000 from the company's balance sheet since it is not an asset or liability.
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Why would it be a good idea to mix stocks and bonds in your investment portfolio?
Answers
Answer:
To have more variety and just more in general!
Explanation:
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Debra spends 22 hours a week studying in the gatton building. Debra currently has a 3. 7 gpa. If debra reduced her time studying to 10 hours a week she would have a 2. 7 gpa. If she only studied for 10 hours a week she could spend 12 hours working at common grounds for $9. 25/hour. What is debra/s marginal cost in terms of dollars per week of improving her gpa from a 2. 7 to a 3. 7?.
Answers
Debra spends 22 hours a week studying in the Gatton building. Debra currently has a 3.7 GPA. If Debra reduced her time studying to 10 hours a week she would have a 2.7 GPA. If she only studied for 10 hours a week she could spend 12 hours working at Common Grounds for $9.25/hour. Debra's marginal cost in terms of dollars per week of improving her GPA from a 2. 7 to a 3. 7 will be $111.
What GPA manner?
Grade factor average (GPA) is the measure used to summarize your academic fulfillment at Griffith. After the publication of very last grades each trimester, your program and profession GPA are calculated, and will be used by the college to inform choices, including the following: educational progression.
Is a GPA 3.5 properly?
However, a grade factor common of three.5 and above is good in college. 3.5 GPA college students usually qualify for the dean's list and honors packages. The common GPA in four-year undergraduate courses in U.S. schools is 3.15. So, we will optimistically say that yes, a 3.5 GPA is good in university.
Can get into Harvard with a 3.5 GPA?
A 3.5 GPA may be surprisingly competitive and admission may be reasonably expected at many colleges, but it's no longer the maximum competitive at locations like Harvard, Yale, and Dartmouth, which, on average, accept college students with GPAs exceeding 4.
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Which investment strategy would work best if you wanted to grow your
investment slowly without losing much money?
A. Low risk, low return
B. High risk, high return
C. Low risk, high return
D. High risk, low return
Answers
The best answer would probably be a low risk, low return.
An investment strategy with low risk and low return would be the best one if you wanted to grow your investment slowly without losing the money.
Which investment strategy is best to use?An investment strategy with low risk and high return is best to adopt for the motive of earning high profit.
Investments with low risk are much safer than high risk. It also provides the chances for larger gains.
It would be a profitable to choose the investment only with low risk factor.
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anna owns a dog grooming salon in brunswick, georgia. the above table has anna's total product schedule. anna pays each worker $300 per week and she pays rent of $600 a week for her salon. these are her only costs. when anna has a staff of 2 workers, her average total cost equals group of answer choices $1,200. $10.00. $300. $2,400. $12.00.
Answers
Based on the given information, Anna's total product schedule shows the relationship between the number of workers she employs and the amount of output (in terms of the number of dogs groomed).
To determine the average total cost, we need to consider both the fixed costs (rent) and variable costs (worker wages).
When Anna has a staff of 2 workers, her total variable cost would be $600 (2 x $300). Adding this to her fixed cost of $600 for rent gives a total cost of $1,200. To find the average total cost, we need to divide this by the output (in this case, the number of dogs groomed). Unfortunately, the table provided does not include information on the number of dogs groomed for each number of workers, so we cannot determine the correct answer from the options given. However, we know that the average total cost is calculated by dividing total cost by output, and we know that Anna's total costs include $600 for rent and $300 per worker. Therefore, as the number of workers increases, the average total cost should decrease because the fixed cost is spread out over more workers and the variable cost per worker is reduced.
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the engagement approach to audience involves . a. a two-way process b. demographics only c. none of these choices d. both a two-way process and self-risk e. self-risk
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the engagement approach to audience involves (d.) both a two-way process and self-risk. In the two way process, there are interaction between presenter and the audiences.
In the organization, Audience engagement generally can be defined as a group of people's active and positive response to a live presentation. In the audience engagement, the presenter achieves to keep the audience's interest, attention, and participation during the presentation, audience engagement personifies. There are several examples of audience engagement, such as attendees watching a live event, submitting questions in a Q&A, submitting poll responses, or also just chatting with other event participants.
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All taxpayers can make tax payments using a direct debit from their bank account.
True
False
Answers
Answer:
false
Explanation:
When Sam, a production supervisor spoke to the human resources manager about transferring to the new production facility, he was involved in which type of organizational communication
Answers
Sam was involved in a type of vertical communication within the organization. This type of communication occurs between different levels of hierarchy within the organization, where one level communicates with another level either upwards or downwards in the chain of command.
Sam, being a production supervisor, spoke to the human resources manager who is higher up in the organizational hierarchy. This suggests that Sam was seeking permission or approval to transfer to the new production facility, which is a decision that would be made by the higher management.
Vertical communication is crucial in maintaining a clear chain of command and ensuring that decisions and information flow smoothly through the organization. It is used to provide direction, feedback, and performance evaluation. Vertical communication can be upward, where subordinates communicate with superiors, or downward, where superiors communicate with subordinates. It is also essential in decision-making, problem-solving, and maintaining organizational culture. In Sam's case, his communication with the human resources manager demonstrates the importance of vertical communication in the decision-making process of an organization.
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The rationale why companies offer customers credit is because: a. offering customers credit, helps with the firm's cash flow position. b. offering customers credit, helps match revenues with expenses for the same time period. c. allowing customers to pay with credit cards or on credit, makes it easier for them to buy, and it also attracts new customers. d. allowing customers to pay with credit card or on credit, forces a company to rely less on accounts receivables and more on accounts payables.
Answers
Answer:
c. allowing customers to pay with credit cards or on credit, makes it easier for them to buy, and it also attracts new customers
Explanation:
What is credit?
Credit is the amount you can borrow for a certain time.
Sales on credit means that the sale is done without the use of cash with the conditions given for a certain time limit.
Now purchasing without cash is a facility every customer enjoys. The basic objective of sales on credit is to increase the purchasing power of customer thus attracting more customers to the specific products.
Choice c is the best option.
Choice a is incorrect because cash flows involve cash as well.
Choice b is also incorrect because matching principle is not a market strategy . It is an accounting method.
The company needs increase in sales, which involves a marketing strategy.
In the matching principle the revenues are matched with expenses therefore credit sales ( revenue) will be matched with the expenses incurred to be able to make sales.
Choice d is incorrect credit sales increase accounts receivable not accounts payable.
The rationale why companies offer customers credit is because offering customers credit, helps with the firm's cash flow position. The correct option is A.
The company can align revenues with the expenses incurred in producing those goods or services and ensuring a more accurate representation of financial performance for a given time period.
This approach can improve cash flow management, enhance customer satisfaction and foster loyalty. It can attract new customers and stimulate repeat business as it offers convenience and ease of purchase.
Therefore, the correct option is A.
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Activity: Critical Thinking Questions
1. Research is clear that charismatic power is the most impactful for a manager. Make your case for which of the other four is most useful.
2. The manager needs to create a safe environment and build credibility to get team members to follow them. What else should they do to elicit followership?
3. How can the leading function of management be leveraged within the context of Corporate Social Responsibility?
How to Answer the Critical Thinking Questions
For each of these answers you should provide three elements:
1. General Answer: Give a general response to what the question is asking or make you arguments to what the question is asking.
2. Outside Resource/s: Provide a quotation from a source outside of this textbook. This can be an academic article, news story, or popular press. This should be something that supports your argument. Use the sandwich technique explained below and cite your source in APA in text and then a list of full-text citations at the end of the homework assignment of all three sources used.
3. Personal Story: Provide a personal story that illustrates the point as well. This should be a personal experience you had, and not a hypothetical. Talk about a time from your personal, professional, family, or school life. Use the sandwich technique for this as well, which is explained below.
SANDWICH TECHNIQUE
Step 1: Provide a sentence that sets up your outside resource by answering who, what, when, or where this source is referring to.
Step 2: Provide the quoted material or story.
Step 3: Tell the reader why this is relevant to the argument you are making.
Please answer ALL and follow the instructions. Nonsense answer = Report
Answers
1. The most useful power for a manager depends on various factors, such as the specific situation, goals, and the personality and preferences of the manager.
2. To elicit followership, a manager should also:
Lead by example and demonstrate ethical and moral behaviorCommunicate a clear vision and set of goals for the teamProvide opportunities for growth and development for team membersFoster a positive and inclusive team cultureEmpower and delegate responsibilities to team members effectively3. The leading function of management can be leveraged within the context of Corporate Social Responsibility by:
Communicating and implementing the organization's CSR goals and policies throughout the teamEncouraging and supporting team members to engage in CSR initiatives and volunteer workIntegrating CSR into the team's day-to-day operations and decision-making processesMeasuring and reporting on the team's impact and progress towards CSR goals.What is Corporate social responsibility?Corporate social responsibility is a type of international private business self-regulation that tries to support philanthropic, activist, or charitable societal goals by participating in or promoting volunteer work or morally upstanding behaviors.
Corporate social responsibility is a corporate strategy that involves a company's monitoring and assurance of compliance with legal, ethical, environmental, societal, national, and international norms.
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Mei starts a job with a $72,000 annual salary that is paid twice a
month. How much should she expect her gross pay to be on her
first paycheck?
Answers
$3000
Explanation:
just diveide the number by 24
What are loans to government and companies? please hellppzz
Answers
Answer:
loans for a company is when they pull out more money than they have then using it and it has to be repaid
Explanation:
How does the following transaction impact cash flow? recognizing depreciation expense on a piece of equipment purchased six years ago.
Answers
No Impact would be there on cash flow at all.
No cash is actually paid when a company recognizes depreciation expense. This is an implicit transaction related to the passage of time, and therefore, there is no impact on cash flows.
As a company buys anything they usually pay in credits and due to that, there would be no such impact on the cash flow. In a company majority of the payments are done on credit and all the rest of the remaining payments are on cash which is not in bulk therefore a company faces no issue in its financial table and cash flow.
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A machine does 200J of work in 35seconds , calculate the power developed
Answers
The required power developed by the machine is 5.714 Joule per second.
Power generated by a machine is defined as the work done by a machine in a single unit of time.
Power = work/time
Unit of power is joule per second
Here,
A machine does 200J of work in 35seconds
Power generated by the machine is given as,
Power = work/time
Substitute the value in the above equaiton,
Power = 200 / 35
Power = 5.714 J/s
Thus, the required power developed by the machine is 5.714 Joule per second.
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Lisi Crichton operates a variety store. Her brother does custom welding and made some racks to hold videos. Lisi gave her brother $5,000 cash and did not get a bill. A similar rack was on display at a department store for $1,000. You are told to book an expense on the company financial statement for $5000. What will you book the amount for?
Answers
Answer:
$1,000
Explanation:
Fixed assets must be recorded at historic cost or purchase value. Their valuation is not affected by changes in market values, e.g. land might appreciate over time, but its historic cost will be used for accounting purposes.
In this case, Lisi doesn't have a bill to show the price of the rack, and since she paid in cash, she has no way of proving what she actually paid for it. In this case, in order to record the purchase of the rack you must use the fair market value of similar racks.
Imagine if someone could just say that they purchased things at X price but didn't get a bill, soon people would be recording buying pencils at $500 each because they are gorgeous and perfectly crafted.
What is an accurate definition of experience?
the collection of things a person has done
a natural ability a person is born with
a subject a person would like to learn more about
the factors that have influenced a person throughout life
Answers
Answer: A)the collection of things a person has done
Explanation: just answered it EDGE 2021
Answer:
A on edge
Explanation:
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Write the steps in registering your business. Record them in the correct order. Do this in your answer sheet. (LOOK AT THE PICTURE)
Answers
289292928183281882822
The bureau of labor statistics publication that provides detailed and up-to-date information about the u.s. workforce is the:_________
Answers
The bureau of labor statistics publication that provides detailed and up-to-date information about the u.s. workforce is the Employment Situation Summary.
The Bureau of Labor Statistics (BLS) publishes a report every month called the Employment Situation Summary that contains detailed information on the American labor market. It contains information on earnings, job growth, employment, and unemployment.
The Current Population Survey (CPS), which polls households to establish the unemployment rate, and the Establishment Survey, which polls businesses to determine nonfarm payroll employment, number of hours worked, and wages, are the two surveys used as the basis for the report.
The BLS also creates a wide range of information about the American labour market, such as the Consumer Price Index, the Quarterly Census of Employment and Wages, and the Occupational Outlook Handbook.
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the list that includes key contact information, role or specific topics of interest, expectations, any known issues, and areas of potential influence for each stakeholder is known as the
Answers
The list that includes key contact information, role or specific topics of interest, expectations, any known issues, and areas of potential influence for each stakeholder is known as the stakeholder analysis. This analysis helps to identify and understand the various stakeholders involved in a project, their needs, and how to engage with them effectively.
The list that includes key contact information, role or specific topics of interest, expectations, any known issues, and areas of potential influence for each stakeholder is known as the stakeholder analysis. This analysis is conducted in order to identify and understand all individuals or groups that have an interest in a project or organization. By creating this list, it becomes easier to prioritize stakeholders and manage relationships effectively.
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Please help will mark brainliest!
Answers
37. Substitution ?
38. Good A & B are complements.
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A company’s perpetual preferred stock has a par value of $15 million and pays a dividend rate of 7.5% per year. The company’s tax rate is 42%. If the preferred stock’s market value is $14.1 million, what is the company’s annual cost of preferred stock financing? Question 2 options: 1) 7.98% 2) 8.25% 3) 6.89% 4) 7.64% 5) 7.23%
Answers
Answer:
1) 7.98%
Explanation:
The solution to the company’s annual cost of preferred stock financing is shown below:-
The Annual cost of preferred stock financing = Preferred stock par value × Dividend rate per year ÷ Market value
= $15 million × (0.075) ÷ $14.1 million
= 7.98%
Therefore for computing the Annual cost of preferred stock financing we simply applied the above formula.
The managers of a rapidly growing company decided to modify its structure by grouping its employees into different teams. The entire business process of the company was modified to improve cost, quality, service, and speed. In this scenario, the company most likely experienced a shift from:
Answers
Answer:
a strong vertical structure to one emphasizing stronger horizontal coordination
Explanation:
Since in the question, it is mentioned that the for rapidly growing of the company leads to change its structure also the employees grouping could be done in different team this is to be done due to improvement in the cost, quality, service, speed, etc
So here the company shifted it from a strong vertical structure to the horizontal as the changes are made that became beneficial for the company
How responsible should sport/event organizations, celebrities, and athletes be for keeping their various publics happy? We know that good publicity boosts goodwill and profits. But, should individuals have to keep their personal beliefs private so they won’t offend anyone? For example, some musicians may highlight their political views on stage at their concerts. Or, an athlete may make comments in an interview that could offend certain groups. Perhaps he’s an avid hunter, a hobby that some animal rights activists would certainly not support. What do you think? Where should celebrities and athletes draw the line between building fan support and being true to themselves?
Answers
Answer:
I dont really know
Explanation:
Martin is a credit counselor working with a client, Kim, who is in serious financial trouble. Kim is hesitant because she has a long way to go and a lot of work to do before she can be financially healthy again. What is the best way for Martin to explain the next steps to her?
A.) Martin should present the information in small manageable steps rather than give her a lengthy to-do list.
B.) Martin should make a list of tasks that must be completed and do them for her, since he is an experienced professional.
C.) Martin should compile a list of all the tasks that Kim must complete and suggest that she report back to him after she is finished.
D.) Martin should not encourage her to do anything she is reluctant to do, even if it means salvaging her financial life in the long term
Answers
Answer:
C
Explanation:
C la respuesta es la C ya que
Kent works in the public relations department of his company. He sends a news release about a new product offering to several newspapers and television stations. Kent knows from past experience that even when the media use his news releases, they often release the information at inopportune times. They will also sometimes cut out what Kevin believes are the most important points to make the news fit. However, Kent accepts these disadvantages because free publicity offers the advantage of
Answers
Answer:
The answer is "credibility".
Explanation:
In this scenario, free advertising offers a reputation benefit. When this journal advertises openly, it's also considered reliable by the targeted customers like, it is in news form while charging something. Therefore, Kent finds that improper transmission of time information to be a drawback since it recognizes that its product and company would still be credible.
People are known to have different qualities. Kent accepts these disadvantages because free publicity offers the advantage of Credibility.
Credibility is known to be a characteristic of an individual who is said to be noted by others to be a trusted advisor, believable, and confident as they tend to show a high level of expertise in a specific field.A lot of traits are said to be of influential behaviors are known to be linked with with high credibility. Kent acceptance shows that free publicity gives some measure of Credibility.
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Question 2(Multiple Choice Worth 5 points)
(01.07 MC)
Suppose you live in a country with a proportional tax system. You make $20,000 a year and pay $5,000 in taxes. Your
friend makes twice as much money as you. What amount can your friend expect to pay in taxes this year?
A. $2,500
B. $5,000
C. $10,000
D.$20,000
Answers
Answer: C. $10,000
Explanation:
Proportional tax system means you pay a certain percent of what you earn, in this case it is 25%. Therefore your friend making twice as much as you will be taxed twice as much as you, making the answer C. $10,000.
the plan that is best suited to identify the long term requirement of capacity is: group of answer choices aggregate production plan material requirements plan material management plan master schedule
Answers
Aggregate production plan is best suited to identify the long term requirement of capacity.
What is aggregate production planning (APP)?
Planning for aggregate output is helpful for operation management. It relates to setting up production, inventory, and staffing levels to meet shifting demand over a planning horizon of anything between six months and a year. Plans for aggregate production are essential for operations management and are required to take advantage of labor opportunities. For a brief or medium amount of time, this strategy aids in maintaining market equilibrium between supply and demand. Aggregate production planning's (APP) primary objective is to maximize manufacturing while lowering operating expenses.
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Imagine that you are a professional project manager. Describe three instances in which you might use color-coded tasks. How would they contribute to efficiency?
Answers
Particular obligations of the project manager overseeing the creation of the necessary deliverables. planning and project management. utilizing any delegation and project assurance responsibilities while adhering to predetermined reporting structures.
Project, stage, and exception plans should be created and maintained as needed. acquiring all necessary resources for the project, including labor, equipment, and materials. Creating deadlines and schedules for the project's completion. managing the project's cost, time, and quality. overseeing every project-related work that is done.
The following are the steps that make up the planning process: Establishing of goals. creating the tasks necessary to achieve those goals. figuring out what resources are required to carry out those duties.
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If you were running a company, describe at least two things you would do to improve its productivity. (1-4 sentences.)
Answers
Answer:
Two ways I would improve productivity would be to increase labor and create incentives. By increasing labor, you'd have more opportunities to keep people at a specified area that they are competent in. If you were to create positive incentives for the workforce, people are more likely to work harder and increase the company's productivity.
Explanation:
What is a bureaucracy? what happened when the bureaucracy in china became corrupt?
Answers
People suffered from excessive taxes, forced labour, and bandit raids when the authorities turned corrupt.
How would you define bureaucracy?An organised group of government employees is known as a bureaucracy.Both a collection of non-elected leaders and an administrative policy-making body are referred to as bureaucracies. A bureaucracy, historically, was a form of government administration where departments were run by non-elected people. Any significant institution today, whether it is privately or publicly held, is governed by bureaucracy. Bureaucracy is exemplified by the public administration in many jurisdictions and sub-jurisdictions, but it can also be found in any institution with a centralised hierarchical structure.
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