Step 5 in the marketing plan process is when a firm ______ the outcome of the strategy and implementation process. Multiple choice question. cancels sustains builds evaluates
Answers
Step 5 in the marketing plan process is when a firm evaluates the outcome of the strategy and implementation process.
What is the marketing plan process?This is the approach that is taken towards meeting the goals of marketing.
The steps includesAnalysisSet the objectivesFormulation of strategycontrolreviewanalysisRead more on the marketing plan process here:
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Related Questions
where u going for a vacation
Answers
i would go to the first picture it seems like a good day for a swim and have fun with famliy there but the seconed one looks very pretty ^^
Jonathan's father opens a fast food restaurant selling burgers and hot dogs. After a couple of years, Joe's sister designs a logo for the food outlet.
The logo shows a smiling cheeseburger wearing a white cap over the brand name. Everybody liked the design, and now Joe would like to register
the design as their own. How can Joe get the design registered?
A.
as a patent with the United States Patents Office
OB. as a trade secret with the United States Trade Office
OC. as a trademark with the United States Patents and Trademark Office
OD. as a brand name with the United States court of law
OE. as a copyright with the Copyright Office
Answers
Jonathan can get the design registered as a trademark with United States Patents and Trademark Office. Thus, Option C is the correct statement.
What is the importance of a registering a trademark?Trademarking a logo is a simple process, but important considerations should be made before, during, and after the application filing process.
Logos are a distinct and important business asset that can make an unique impression on customers.
Therefore, in order to protect a logo and its unique identifier(s), business owners should think of trademarking a logo with the United States Patent and Trademark Office (USPTO). Option C is the correct statement.
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Answer:
C
Explanation:
These are the people that will give you the trademark.
in a transitioning economy, why would privatization tend to raise a nation’s overall standard of living?
Answers
Option c) people are more likely to be productive when it benefits them personally.
A transition economy is an economy that is evolving from a command economy to a market economy.
Transition economies have undergone a series of structural transformations aimed at developing market-based institutions.
These include economic liberalization where prices are set by market forces rather than by central planning bodies.
It also removes trade barriers, privatizes state-owned enterprises and resources, reorganizes state-owned enterprises and collectively owned enterprises into enterprises, and creates a financial sector that promotes macroeconomic stability and the movement of private capital.
Used in the former Soviet Union and Eastern Bloc countries of Europe, it has also been applied to some Third World countries, with detailed studies of its economic and social impact.
Transitional processes are usually characterized by changes and creation of institutions, especially private companies.
Changing the role of the state, creating radically different state institutions, promoting private enterprise, markets and independent financial institutions
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Complete question:
In a transitioning economy, why would privatization tend to raise a nations overall standard of living?
a) people are less likely to assume the risks of entrepreneurship
b) it places the means of production in the hands of the government
c) people are more likely to be productive when it benefits them personally
d) it places a nations ruling class in a position to administer the economy efficiently
Please help!! Unit test question 50 pnts!!!! Kyle is applying to be a police officer. In his interview, he describes that he loves watching the news and following current cases. He explains that he is honest, caring, compassionate, and has a very deep sense of integrity. He then explains that he is in excellent physical condition and trains regularly in hand-to-hand combat. He tells them that he is a member of the Police Explorers, a group that trains and rides along with the local police. He also tells them that he graduated at the top of his class and was a state finalist on the mock trial team. Which table accurately lists Kyle’s personal interests, skills, achievements, values, and experiences? A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries grades and mock trial finalist; physical condition and training; following cases on the news; honest, caring, compassionate, has integrity; Explorers. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries grades and mock trial finalist; honest, caring, compassionate, has integrity; Explorers; physical condition and training; following cases on the news. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; physical condition and training; grades and mock trial finalist; honest, caring, compassionate, has integrity; Explorers.
Answers
The table is A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers. The correct option is (B).
What do you mean by skills, interest?Passion (or Interests): Do I enjoy engaging in this activity? something that you enjoy doing? Is this an activity I have the talent (or skills) for?
There are three categories of skills: self-management, functional, and specialised knowledge. Functional skills are innate aptitudes or capabilities that are refined through practice and education.
Therefore, the table accurately lists Kyle’s personal interests, skills, achievements, values, and experiences is A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers.
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Assume that the TC function for a company is as follows: TC=550+4Q+3Q2 (show calculations for all parts)a. What is the average total cost function for this firm? Provide answer as a function.b. What is the average fixed cost of producing 5 units of output? Provide answer in dollars.c. What is the average variable cost of producing 5 units of output? Provide answer in dollars.
Answers
(a) The average total cost function for this firm is 550/Q + 4 + 3Q. (b) The average fixed cost of producing 5 units of output is 110 dollars per unit. (c) The average variable cost of producing 5 units of output is 19 dollars per unit.
a. The average total cost (ATC) function is calculated by dividing the total cost (TC) by the quantity (Q):
ATC = TC/Q = (550+4Q+3Q^2)/Q = 550/Q + 4 + 3Q
Therefore, the average total cost function for this firm is ATC = 550/Q + 4 + 3Q.
b. The average fixed cost (AFC) is calculated by dividing the fixed cost (FC) by the quantity (Q):
AFC = FC/Q = 550/Q
To find the average fixed cost of producing 5 units of output, we substitute Q=5 into the equation above:
AFC = 550/5 = 110 dollars per unit.
c. The average variable cost (AVC) is calculated by subtracting the fixed cost (FC) from the total variable cost (TVC), and then dividing by the quantity (Q):
AVC = (TVC-FC)/Q = (4Q+3Q^2)/Q = 4 + 3Q
To find the average variable cost of producing 5 units of output, we substitute Q=5 into the equation above:
AVC = 4 + 3(5) = 19 dollars per unit.
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An entrepreneur runs two businesses: a property management business and a dry cleaning store. To spend time with her family, she does not want to spend more than 12 hours per week on her two businesses. For every hour she spends on her property management business, she needs to spend three hours on paperwork. For every hour she spends on the dry cleaning store, she needs to spend one hour on paperwork. She finds paperwork relaxing, so she wants to spend at least 11 hours per week on paperwork. Assuming the entrepreneur makes $85 per hour from the property management business and $40 from the dry cleaning store, how should she allocate her time to maximize her profit
Answers
The entrepreneur can allocate her time in various ways to maximize her profit, as long as the constraints of the problem are met.
To maximize her profit while considering the time constraints and her preference for spending at least 11 hours on paperwork, the entrepreneur needs to allocate her time between the property management business and the dry cleaning store.
Let's break down the problem into steps:
Step 1: Calculate the maximum time the entrepreneur can spend on the property management business and the dry cleaning store, considering the 12-hour weekly limit:
- Let's assume the entrepreneur spends x hours on the property management business.
- Therefore, she will spend 3x hours on paperwork related to the property management business.
- Let's assume she spends y hours on the dry cleaning store.
- Therefore, she will spend y hours on paperwork related to the dry cleaning store.
According to the time constraints, we have the following equations:
x + 3x ≤ 12 (the total time spent on property management and paperwork should be less than or equal to 12 hours)
y + y ≤ 12 (the total time spent on the dry cleaning store and paperwork should be less than or equal to 12 hours)
x + 3x + y + y ≤ 12 (combining the equations for property management and the dry cleaning store)
Simplifying the equation:
4x + 2y ≤ 12
Step 2: Determine the minimum time the entrepreneur will spend on paperwork:
The entrepreneur wants to spend at least 11 hours on paperwork. Since the paperwork includes both property management and the dry cleaning store, we can write the equation as follows:
3x + y ≥ 11
Using linear programming techniques, we can solve the system of equations to find the optimal values for x and y that satisfy the constraints and maximize the profit.
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anybody have good jokes??
Answers
Answer:
dark humor... why did the kid in the wheelchair get bullied?
Explanation:
because he couldn't stand up for himself
Answer:
A string walks into a bar, the bartender says "Hey! We don't serve your kind here!" so the string walks out and wravels himself up. He turns himself inside out all in knots, gets all dirty, and ruffles up his ends. He walks back into the bar and the bartender says "Hey! Aren't you that piece of string I just threw out a second ago?" and the string answered "Im Afraid Knot!"
Where have you seen marketing take place?
Answers
Answer:
Everywhere
Explanation:
The process or technique of promoting, selling, and distributing a product or service. Once there is a buyer, there will always be a marketer, be it the secretary, salesperson, etc.
SOMEONE HELP QUICK PLS!!! Examine the credit terms below:
Interest Rates and Interest Charges Annual Percentage Rate (APR) for Purchases 0% introductory APR for 10 months. After that, your APR will be 10.99%, 15.99%, or 17.99%, based on your creditworthiness. This APR will vary with the market, based on the Prime Rate. What happens to the APR after 10 months?
A) It decreases to 0%.
B) It increases to a variable rate of 10.99%, 15.99%, or 17.99%.
C)The credit terms do not specify how the rate will change.
D)There is no change to the interest rate.
Answers
Since the introductory APR is 0% from the beginning of the credit period till the 10th month, the APR after the 10th month B) increases to a variable rate of 10.99%, 15.99%, or 17.99%.
APR (Annual Percentage Rate) is the annual interest rate that applies to loans and other credit facilities, and it does not use the compounding interest principle.
The APR does not decrease to 0%, and the credit terms specify how the rate changes from the prime rate based on creditworthiness.
Thus, the APR is variable from the 10th month based on the individual's creditworthiness.
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Answer:
The answer is most likely B B) It increases to a variable rate of 10.99%, 15.99%, or 17.99%.
I hope this helps and sorry for the wait
What was the opening price of Dow Jones Industrial Average on Jul 09, 2018 in the format of XXXXX.XX?
Answers
Answer:
According to yahoo finance, the opening price of the Dow Jones Industrial Average on Jul 09, 2018, is 24519.20.
Explanation:
Dow Jones Industrial Average is a stock indicator of the top 30 companies of the US. Other indicators include NASDAQ Composite and S&P 500.
These indicators are used to assess the performance of the market on a subsequent day. From the historical data from the Yahoo Finance, the value for any day could be found which for July 09, 2018 is 24519.20.
ax Weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems. Group startsTrue or False
Answers
The given statement that ax Weber believed that bureaucracy prevents a firm from achieving a competitive advantage because it is inefficient and is plagued with management problems is true.
Bureaucracy Bureaucracy is a type of organizational structure that is characterized by fixed and formal rules and procedures, hierarchical authority, and specialized roles for employees. It is a method of organization in which people, machines, and materials are coordinated to accomplish a specific objective efficiently. Max Weber, a German sociologist, developed the concept of bureaucracy in the early twentieth century.
He argued that bureaucracy is the most efficient and rational way to organize human activity. However, Weber also acknowledged that bureaucracy has several disadvantages that can prevent an organization from achieving a competitive advantage.
InefficiencyWeber claimed that bureaucracy is inefficient because it is rule-bound and lacks flexibility. Employees must adhere to strict procedures, which can cause delays and inefficiencies. Bureaucratic structures can also stifle creativity and innovation because they are resistant to change.
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under what circumstances are (a) a short hedge and (b) a long hedge appropriate?
Answers
Short hedge is a risk management strategy to protect themselves against a decrease in the commodity's price. Long hedge is used to protect themselves against an increase in the commodity's price money.
A long hedge, on the other hand, is a risk management strategy used by consumers or buyers of a commodity to protect themselves against an increase in the commodity's price. This type of hedge involves buying futures contracts for the commodity being purchased. By doing so, the consumer or buyer locks in a price for the commodity, ensuring that they will not suffer losses if the price increases.
In general, short hedges are appropriate for producers or sellers who are concerned about the price of their commodity falling. Long hedges, on the other hand, are appropriate for consumers or buyers who are concerned about the price of their commodity rising.
The decision to use a short or long hedge depends on the specific circumstances of each situation, such as the nature of the commodity, the market conditions, and the level of risk that the producer, seller, consumer, or buyer is willing to accept.
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A small island country has recently begun an initiative aimed at attracting more businesses to revitalize the economy. An increase in bed and breakfasts, resorts, casinos, hotels, and restaurants has created several jobs, as well as brought in more tourist dollars. However, the island’s president isn't satisfied and has announced a special effort to attract small- to medium-size suppliers and manufacturers. Why do you think he wants to put additional emphasis on businesses that produce goods rather than provide services?
Service jobs have higher salaries than manufacturing jobs.
Manufacturers pay more in taxes.
Manufacturing has the most significant multiplier effect.
Service businesses conflict with manufacturing.
Answers
Option (b) Manufacturing has the most significant multiplier effect.
Manufacturing is the basic to produce any product or to start any business. As in the case study we studied small island country has taken initiative to attract more and more business. On the other hand, president has announced a special effort to attract small- to medium suppliers and manufactures because to firstly balance everything in the economy like reduce unemployment, providing proper wages so that workers would encourage to perform best in their fields.Once the everything is balanced then it can lead to hike in the economy.Learn more about this here-
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What is total amount spent on wages and salary before any tax is being taken? [those ernings above £40000 are paying 40% income tax on income tax over £40000 and 20% on anything below £40000
Answers
Answer: hello your question is open ended hence I will give you a more general answer
answer : $12,000 * number of workers or $24,000 * number of workers
Explanation:
Income taxes are taxes been levied directly on the income earned by the tax payer.
According to Tax rules there is a certain amount of income an individual would have to earned before any tax will be taken, incomes below $12,000 are tax free ( for singles ) and $24,000 for married individuals ; Hence the Total amount spent on wages and salary before tax is being taken = $12,000 * number of workers or $24,000 * number of workers . ( unless otherwise stated )
A company in Maine sends lobsters to France What is Maine doing? Select three options
Answers
Answer:
Following are the answer to this question:
Explanation:
Some information is missing in the question. So, the correct choices can be described as follows:
i) practicing international trade
ii) exporting products
iii) participating in globalization
Maine has been globally traded because its, company transfers it's own goods at international frontiers when a client gives lobster with France in Maine. It exports products as its goods are manufactured in one nation, in this scenario the USA, is one other country, France in this case.Finally, it participates in the process of globalization because the company operates internationally by selling its products.Answer:
B. practicing international trade
C. exporting products
D. participating in globalization
If the sales volumes in the east and west regions had been reversed, what would be the company’s overall break-even point in unit sales?
Answers
The break-even point is the level of sales at which profits are equal. The company sold 38,000 units in the eastern region and 13,000 units in the western region
Equal gross revenue means no loss or profit for small businesses. This means that we have reached a stage of production where the cost of production equals the revenue of the product.
To calculate the breakeven point in units, use the following formula: Points (Sales) = Fixed Costs ÷ Contribution Margin
The break-even point (BEP) helps the business owner/CFO to realistically check how long it will take to see a return on an investment. For example, calculate or model the minimum turnover required to cover the cost of entering a new location or new market.
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Last year, baldwin corp paid their workers $26. 81 per hour. how much will they be paying them 2 rounds from then?
Answers
Last year, Baldwin corp paid their workers $26. 81 per hour. They will be paid $29.56 two rounds from then.
It is shown from Baldwin's statement that they increase the salaries of workers by 5% every year.
In 2 rounds/years, therefore, the salary will be:
= 26.81 × (1 + 5%) ²
= 26.81 * 1.05²
= 29.558025
= $29.56
Therefore in 2 rounds from now, they will be paid $29.56.
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Do you still have to pay Medicare tax after age 65?
Answers
Medicare is a federal insurance program for people aged 65 years and over and those with certain health conditions. The program aims to help older adults fund healthcare costs, but it is not completely free. Each part of Medicare has different costs, which can include coinsurances, deductibles, and monthly premiums.
Medicare is a federal insurance program for people aged 65 years and over and those with certain health conditions. The program aims to help older adults fund healthcare costs, but it is not completely free. Each part of Medicare has different costs, which can include coinsurances, deductibles, and monthly premiums.Your age doesn't change whether or not you pay Medicare taxes. If you retire from your career at the age of 65 and decide to start working part-time, your income is subject to Medicare taxation.
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List three market practices that the govemment
regulates or bans to protect competition
Answers
Three market practices that the government regulates or bans to protect competition are Price fixing, Monopolies and Predatory Pricing.
Price fixing: As price fixing techniques are anticompetitive and detrimental to consumers, the government regulates them. Price fixing may result in increased costs, decreased output, and inefficient markets. The government may levy penalties or even bring legal action against the businesses and people involved in this conduct.
Monopolies: To stop them from exploiting their dominant market position, the government may regulate or even dismantle monopolies. Monopolies can result in increased costs, less innovation, and less consumer choice. Governments may limit mergers and acquisitions or control the actions of powerful companies.
Predatory Pricing: When a business sets prices below what it actually costs to produce a good or service, it is engaging in predatory pricing, which the government may outlaw. In the long term, higher prices may result from this technique since the dominant firm can increase prices after driving out its rivals, which hurts competition. The government may fine or prosecute businesses that engage in this conduct.
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If you invested $250 at 16% how much will have after 4.5 years
Answers
Answer:
$180
Explanation:
$250 * 0.16 * 4.5 = $180
Answer:
it depends on how often it's compounded
yearly:
The final balance is $487.53.
The total compound interest is $237.53.
semi-annually:
The final balance is $499.75.
The total compound interest is $249.75.
quarterly:
The final balance is $506.45.
The total compound interest is $256.45.
bi-monthly:
The final balance is $508.79.
The total compound interest is $258.79.
monthly:
The final balance is $511.17.
The total compound interest is $261.17
bi-weekly:
The final balance is $512.48.
The total compound interest is $262.48.
weekly:
The final balance is $513.04.
The total compound interest is $263.04.
daily:
The final balance is $513.53.
The total compound interest is $263.53.
continuous:
The final balance is $513.61.
The total compound interest is $263.61.
Explanation:
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A targeted cover letter is written specifically for work within the industry you prefer.
True or False?
Answers
Answer
False is the answer hope this helps
Answer:
true
Explanation:
5 time 8
help me pleeeeeeeeeeeeee
Answers
Answer:
40
Explanation:
five times eight is forty
is measured by the project’s impact on uncertainty regarding the firm’s future returns.
Answers
The project's effect on the company's future earnings uncertainties serves as a proxy for corporate risk.
Stand-alone risk quantifies the variation in anticipated returns for a certain project. This risk cannot be diversified since it ignores other elements and concentrates on just one aspect of a corporation.
Corporate risk quantifies how approving the project impacts the company's entire riskiness or how the project's impact on risk is measured. Market risk as well as beta are interchangeable terms. The beta coefficient of the project serves to quantify beta risk.
Through providing the investor with a measurement of the creativity and experimentation with an investment evaluation return estimate, risk analysis helps the investment choice. The outcomes of the deterministic approach are enhanced by the use of the probabilistic method, which is not a replacement for it.
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Question Mode Multiple Choice Question In a ______, members of the channel pursue their own goals and maximize their own profits, regardless of the effect on other channel members. Multiple choice question. corporate vertical marketing system conventional marketing channel strategic relationship JIT system
Answers
Answer:
b. Warehouses
c. Stores
FILL IN THE BLANK. Host governments sometimes intervene in foreign direct investment to ____________.A. send resources out of the countryB. increase capital outflowsC. access international stock marketsD. encourage foreign companies to become suppliersE. shore up balance of payments
Answers
Host governments sometimes intervene in foreign direct investment to shore up balance of payments. Option E is correct.
This means that the government may seek to regulate or influence foreign investment in order to improve the country's current account balance, which is the difference between the value of exports and the value of imports.
Governments may do this by imposing restrictions on capital flows, offering incentives to foreign investors, or negotiating favorable trade agreements that promote exports and limit imports.
The goal is to reduce the country's reliance on foreign borrowing and to maintain a stable exchange rate, which can help to support economic growth and stability over the long term. Therefore, option E is correct.
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Bijou, a member, is a partner in the firm of Paloma & Bell, CPA's. The firm has performed audit engagements for Megadust, Inc. for the past several years. The audit client is threatening to leave the firm over an accounting classification dispute. Under the conceptual framework approach, this situation is an example of: a. Self-interest threat b. Familiarity threat c.Adverse interest threat d. None of the above
Answers
The situation described is an example of a familiarity threat.
The conceptual framework approach in accounting provides guidance on identifying and evaluating threats to auditor independence. Independence is a fundamental principle in auditing that ensures auditors are objective and free from any bias or conflicts of interest when performing their engagements. The framework categorizes threats into different types based on the nature of the relationship or situation that may impair independence.
In this case, Bijou, as a partner in Paloma & Bell, CPA's, has a long-standing professional relationship with Megadust, Inc. The firm has been performing audit engagements for Megadust for several years. However, the client is now threatening to leave the firm due to an accounting classification dispute. This situation presents a familiarity threat.
A familiarity threat occurs when auditors become too familiar or close with the client, resulting in a potential loss of objectivity and independence. The long-standing relationship between the audit firm and the client may create a situation where the auditors are hesitant to challenge the client's accounting treatment or take a firm stance on disputed matters to avoid jeopardizing the relationship.
To mitigate familiarity threats, auditors must maintain an appropriate level of skepticism and objectivity. They should apply professional judgment and adhere to auditing standards and principles to ensure that the audit work is conducted with integrity and independence. If a familiarity threat becomes significant and cannot be adequately addressed, it may result in the need for the auditor to withdraw from the engagement to maintain their independence and professional integrity.
Therefore, the situation described is an example of a familiarity threat as per the conceptual framework approach in auditing.
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If incentives are important to economy why do socialist
countries such as Sweden and Denmark function with a socialist
background generally speaking capitalism and free trade is favored
by economist?
Answers
Capitalism and free trade are generally favored by economists, these countries have found ways to combine elements of socialism with market principles to create successful economies. This balance allows them to maintain strong social welfare systems while also incentivizing innovation and productivity.
In Sweden and Denmark, the governments have implemented policies that provide a robust social safety net, including universal healthcare, education, and comprehensive social welfare programs. These measures help ensure a high standard of living and equality among citizens. However, these countries also understand the importance of incentives to drive economic growth and development.
To encourage productivity and innovation, Sweden and Denmark have created environments that support entrepreneurship and free market competition. They have well-functioning legal systems, protection of property rights, and transparent regulations, which are vital for businesses to thrive.
These countries also emphasize investments in education and skills development, providing individuals with the necessary tools to succeed in a competitive economy.
Furthermore, Sweden and Denmark have high levels of social trust and cooperation, which contribute to the effectiveness of their socialist systems. This trust helps create a sense of social responsibility and a willingness to contribute to the collective welfare, even in the presence of generous social benefits.
In summary, while socialist countries like Sweden and Denmark have a socialist background, they have successfully incorporated incentives within their economies.
By combining elements of socialism with market principles, these countries have managed to maintain strong social welfare systems while promoting innovation, productivity, and economic growth. The balance between socialism and incentives is crucial for their overall economic success.
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True or False. Nadir’s excellent technical skills allow him to work well in cooperation with others to get things done.
Answers
The answer is true, Nadir’s excellent technical skills allow him to work well in cooperation with others to get things done is true.
In plain English, what is cooperation?A corporation is a legal body whose owner(s) elect a board of directors to manage the organization's affairs. Shareholders are not held accountable for the company's operations or financial state; rather, the corporation is.
What is cooperation, and what are examples?In order to obtain outcomes, or to help one another out in order to accomplish a shared objective, people must cooperate. When someone delivers you a brick and you put it down, that is an example of collaboration. Assistance that is given voluntarily by a person, group, etc.
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What does we have received your tax return and it is being reviewed mean.
Answers
"We have received your tax return and it is being reviewed" is a message that taxpayers usually get when the IRS has received their tax returns and is checking for errors or inconsistencies.
What does this message ?This message indicates that the IRS has successfully received the taxpayer's return and is now processing it. The taxpayer's refund will be released once the review is complete.
Please keep in mind that while the review is ongoing, the taxpayer may be required to provide additional information or documentation to the IRS to assist in the review process.
Overall, it means that the IRS has received the tax return, and they are looking over it to ensure that it is complete and accurate.
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David, a member, is a sole practitioner CPA. Based on the work that David does for Jackson Spine, Inc., he is not independent with respect to the company. Jackson Spine, Inc. requires audited financial statements for its line of credit with Graymore Bank. The company has hired Hanson & Potter, CPA's to perform the audit and issue the audited statements to the bank. Hanson & Potter, CPA's would like to utilize David on the audit of Jackson Spine, Inc. because of his extensive experience with the client and his knowledge of the books and records. Would Hanson & Porter, CPA's use of David on the audit impair their independence with respect to Jackson Spine, Inc.?a) Hanson & Potter, CPA's is barred by the Code of Professional Conduct from using David on the audit for any purpose.b) As long as Hanson & Potter, CPA's uses David's work in a manner similar to an internal auditor and complies with AICPA Statements on Auditing Standards, their independence would not be impaired.c) David's lack of independence with respect to Jackson Spine, Inc. would not impair Hanson & Potter, CPA's independence because David's firm was not the firm engaged to perform the audit and issue the audited financial statements.
Answers
CPA's uses David's work in a manner similar to an internal auditor and complies with AICPA Statements on Auditing Standards, their independence would not be impaired. The correct answer is Option b)
This is because the AICPA Code of Professional Conduct allows for the use of non-independent individuals on an audit as long as their work is used in a manner similar to an internal auditor and the auditing firm complies with the AICPA Statements on Auditing Standards. The correct answer is Option b)
This means that Hanson & Potter, CPA's can use David's work as long as they treat it as they would the work of an internal auditor and follow the AICPA guidelines for using the work of non-independent individuals. As long as they do this, their independence with respect to Jackson Spine, Inc. would not be impaired.
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