Which one of the following statements is correct in relation to evidence-gathering in an e-commerce environment?
A It is not necessary to evaluate controls in an e-commerce environment.
B The auditor is not likely to use computer-aided audit techniques in an e-commerce environment.
C The need for computer-aided audit techniques is likely to increase in line with the level of integration of e-commerce systems.
D The auditor will have to undertake increased substantive testing because of a lack of controls in an e-commerce environment.
Answers
In an e-commerce environment, the correct statement regarding evidence-gathering is that C. the need for computer-aided audit techniques is likely to increase in line with the level of integration of e-commerce systems. This means that auditors will rely on computer-aided tools and techniques to gather evidence and assess controls in e-commerce environments.
E-commerce environments involve various digital transactions, electronic records, and interconnected systems. As a result, traditional audit approaches may not be sufficient to gather appropriate evidence and evaluate controls effectively. Auditors need to adapt their methods and utilize computer-aided audit techniques (CAATs) to address the unique challenges posed by e-commerce environments. CAATs enable auditors to extract, analyze, and interpret electronic data, providing a more efficient and comprehensive way to gather evidence. These techniques can include data analytics, automated testing, and software tools designed specifically for auditing electronic systems.
By leveraging CAATs, auditors can gain insights into the effectiveness of controls, identify potential risks and anomalies, and ensure the integrity of financial information in e-commerce systems. In contrast, statements A, B, and D are incorrect. Evaluating controls is essential in an e-commerce environment to assess the effectiveness of internal controls and mitigate risks. The auditor is likely to use computer-aided audit techniques extensively in an e-commerce environment to enhance the efficiency and effectiveness of the audit process. Increased substantive testing may be required in certain cases, but it is not solely due to a lack of controls in e-commerce environments; it is more driven by the complexity and specific risks associated with electronic transactions and data.
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Related Questions
Scenario #1
You get a weekly allowance of $30 from your parents that is automatically transferred into your checking account. Tomorrow you are going to see a movie with your best friend which you often do. Your movie ticket and snacks cost $22, What is the best payment option for this scenario?
Questions:
Will you use cash, check, Prepaid card, Debit card, Credit card or P2P?
Why did you choose that payment option?
What are other possible payment decisions you can make?
Answers
I will use a debit card because my parents add my allowance to my checking account. Other possible payment decisions I can make are to use a check.
The correct option in the given scenario is to use the debit card because the interest rate in the checking accounts is low, and the another method to another method for payment is checks.
What is debit card?A debit card is a kind of credit card. Means that the money can be withdrawn or the cost of acquisitions pay off straight from the holder's bank account without any payment of interest.
It is used in the checking accounts for the withdrawing of money, without giving the payment of interest. It is the simple and more quick way to make payments in comparison to the another cards and instruments.
The payment can be made by the other possible payment decisions like checks.
Therefore, debit card is mostly used by the checking account holders.
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a cost is $50,000 when 25,000 units are produced, and $100,000 when 50,000 units are produced. this is an example of a(n):
Answers
Costs that alter overall with changes in activity/production levels are referred to as variable costs. Additionally, variable costs fluctuate in direct proportion to changes in activity or output levels. On a per-unit basis, variable expenses don't fluctuate, but their overall amount does.
When 25,000 units are manufactured, the total cost in the question is $50,000, or $2 per unit. A total cost of $100,000, or $2 per unit, is incurred when 50,000 units are created. As a result, we may conclude that changes in the number of units produced directly affect the overall cost. So, the price in question is a changeable price.
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is 6 ft greater than 72 inches
Answers
George walks in and wants to send multiple back to back transactions to the
same person after asking some "Know Your Customer" questions, you find
out the receiver sells homeopathic remedies directly to customers. They're
dirt cheap! The receiver was very thorough with the instructions for sending
the payment information, so George feels confident.
Are there any Red Flags? If so, please select all that apply:
Answers
Answer: The Sender and Receiver don't know each other
Sending money for what sounds like a too good to be true
The purpose of transaction for online goods is questionable
Explanation:
The statement "The sender & receiver don't know each other, money send for sounds like very good to be true dealing, and the motive of the transactions with respect to the online goods is considered to be questionable" is considered to be the red flag.
The sender i.e. Geroge who not even know the receiver that sells the homeopathy remedies online so this could raise a few issues but it is not to be considered very serious for red-flagged:
Since e-commerce arises each and every time that lies between non-known parties online.This is due to the dirt chape that could make it suspicious also they don't know each other so this should be considered red-flagged.
The instructions with regard to the payment do not represent any signal of reliability and truthfulness so might me the receiver is trustworthy and genuine.In the case when the homeopathy remedies do not have the licensing and permissions so it would become questionable.No one could suggest the specific brand of homeopathy as it becomes nonprofessional and non-appropriate, so the last option is not be considered.
Therefore we can conclude that The statement "The sender & receiver don't know each other, money send for sounds like very good to be true dealing, and the motive of the transactions with respect to the online goods is considered to be questionable" is considered to be the red flag.
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What kinds of resources will a green design company choose?
O Resources that are sustainable and that won't negatively impact people socially or economically.
O Resources that are sustainable for 10 years.
O Resources that are hard to find that won't negatively impact people socially or economically.
O None of them.
O Resources that are rarely used and therefore will make the company more profit.
Answers
Answer: A green design company will choose resources that are sustainable and that won't negatively impact people socially or economically.
Explanation:
A green design company will most likely choose resources that are sustainable and won't negatively impact people socially or economically. This means that they will prioritize materials and resources that are eco-friendly, renewable, and non-toxic.
A green design company may also prioritize resources that have a long lifespan, as this reduces waste and minimizes the need for replacement.
It is unlikely that a green design company would choose resources that are hard to find or rarely used, as this could make their products and services more expensive and less accessible.
Assets:
Land $114,000
Long-term Investment in Stock $36,000
Notes Receivable (due in 3years) $26,000
Accounta receivable $24,000
Cash $26,000
Prepaid expenses $10,800
Supplies $10,200
Inventory $55,000
Intangible Assets $15,000
Trucks $46,000 Accumulated depreciation $12,000
Liabilities and Equity
Accounts payable $62,000
Wages payable $21,000
Interest payable $24,000
Notes payable (due in 9 years) $34,000
Mortgage payable (due in 20 years) $84,000
J. Carter, Capital $126,000
Tableau DA 4-1: Quick Study, Classifying balance sheet items LO C1 [similar to QS 4-12] The CEO of Jisko requests our help in preparing year-end financial reports. The CEO explains that they are having difficulty classifying accounts. The Tableau dashboard shows December 31 year-end data from the company's accounting system. 1. Identify the company's current assets and their amounts. 2. Identify the company's current liabilities and their amounts. 3. Calculate the total amount reported for plant assets on the balance sheet. Complete this question by entering your answers in the tabs below. Identify the company's current assets and their amounts.
Answers
Based on the information provided, the company's current assets and their respective amounts are as follows:
Cash: $26,000
Accounts Receivable: $24,000
Prepaid Expenses: $10,800
Supplies: $10,200
Inventory: $55,000
The total current assets can be calculated by adding up the amounts of these individual assets:
Total Current Assets = Cash + Accounts Receivable + Prepaid Expenses + Supplies + Inventory
Total Current Assets = $26,000 + $24,000 + $10,800 + $10,200 + $55,000 = $126,000
Therefore, the company's total current assets amount to $126,000.
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The following information is for douglas manufacturing company for the month of may. All materials are added at the beginning of the production process. Beginning inventory 2,350 units, 40% complete direct materials $7,200 conversion $1,100 current month?s data 10,120 units started direct materials $51,612 conversion $53,904 ending inventory 1,000 units, 70% complete compute equivalent units of production.
Answers
70% complete compute equivalent units of production.
What is production?Production is the process of mixing several material and immaterial inputs to create something for consumption. It is the act of producing an output, such as a good or service, that has value and contributes to people's utility.
Land, labour, capital, and entrepreneurship are the four production factors.
Production has six sides, according to Peterson and Anand (2004): technology, law and regulation, industry structure, organisational structure, professional careers, and market.
The four elements of production are inputs utilised in various combinations to produce goods and services for a profit. Land, labour, capital, and entrepreneurship are the production factors. They are the supply inputs required.
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Which type of networking doesn't require a password to access
Answers
A Wi-Fi network connection with Wi-fi protected setup (WPS) for a home or a small environment doesn't require a password to access the networking system.
What is a password?Password is a code that helps in securing the data maintained on a computer or laptop. it also helps in securing the data from any unauthorized access.
WPS is a kind of network security that enables a protected wireless network for a home or a small surrounding. It allows a faster network connection between a router and any portable wireless device.
Therefore, the Wi-Fi network with WPS security requires no password to access the network.
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usually, traditional costing ______ high-volume products and ______ low-volume products.
Answers
Usually, traditional costing overcosts high-volume products and undercosts low-volume products.
Traditional costing systems allocate overhead costs based on a single cost driver, such as direct labor hours or machine hours. This approach works well when overhead costs are closely related to the chosen cost driver and product volume.
However, as companies diversify their product offerings and overhead costs become more complex, traditional costing methods may not accurately allocate overhead costs to individual products. High-volume products tend to consume more direct labor hours or machine hours, causing them to be assigned a larger portion of overhead costs. Conversely, low-volume products may consume fewer direct labor hours or machine hours, resulting in a smaller allocation of overhead costs.
This inaccuracy in cost allocation can lead to distorted product costs, which can impact pricing and profitability decisions. Overcosting high-volume products may cause companies to raise their prices, making them less competitive in the market. Undercosting low-volume products can result in selling products at a lower price than their true cost, negatively impacting the company's profit margins.
To address these issues, companies may adopt activity-based costing (ABC) systems, which allocate overhead costs more accurately by considering multiple cost drivers and activities that contribute to overhead costs. By using an ABC system, companies can more accurately determine the true cost of their products and make better-informed pricing and production decisions.
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robert needs to prepare a process report for top level managers. he understands that the audience will be short on time. he should
Answers
Robert needs to prepare a process report for top level managers. he understands that the audience will be short on time. he should add headings and subheadings
What are heading and subheadings?Content is organized using headings and subheadings to help readers. A heading or subheading introduces the material that will follow at the top of a page or section. Avoid writing headings in all capital letters, such as "THIS IS A HEADING." Find out more about this and other rules by readingYou can find the chart in the "Financial Matters" chapter under the title "Mortgages and Loans." The newspaper headline read "House burns down on Elm Street" with the subheading "Arson suspected."Question headers are one of three heading types. sentence headings subject headingsTo learn more about heading and subheadings refer to:
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If a small business fails to repay a bank loan, what will the lending institution do to recover its loss?
Answers
Answer:
The bank sues the company for not paying the loan
Explanation:
When the small business fails to repay the loan to the bank, the bank sues the company in the credit bureau. The court then may declare the company bankrupt or the assets of the business can be liquidated to repay the creditor's loan. The defaults and unable to repay the loan affects the person's credit score severely, if the business is sole proprietorship. If the business is declared bankrupt then all of the business assets are liquidated and the money is paid to the lenders.
Which of the statements below is FALSE? A. A problem with using the dividend growth model is that it appears to underestimate the expected return for some stocks B. A problem with using the dividend growth model is that it produces a negative expected return whenever a firm cuts its dividends. C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks. D. The dividend model requires that a firm have a cash dividend history and that the dividend history shows a constant dividend or a positive growth in dividends.
Answers
Answer:
C. A problem with using the dividend growth model is that it appears to underestimate the expected return for all stocks.
Explanation:
In the case of the dividend growth model, it shows the underestimated of the return for some stocks, also it generated the negative return at the time when the firm could cut the dividend. ALso it needs that the firm has the history of the cash dividend and that history should show the same dividend or the positive growth
But it does not show the underestimate for all kind of the stocks
a sales person who cold calls you to sell a cemetery plot is most likely offering what type of product?
Answers
When a salesperson calls you to sell a cemetery plot, this is most likely Unsought product
What are Unsought Products?
Unsought Products are those that consumers do not typically seek out or about which the typical consumer may even be unaware because they are unpleasant to consider, require in-person demonstrations, or are brand-new.
In conclusion, a product that consumers are uninformed about or are not particularly interested in actively pursuing for purchase is known as an unsought product.
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Complete Question Below:
When a salesperson calls you to sell a cemetery plot, this is most likely what type of product?
a. Shopping product b. Secondary product
c. Convenience product
d. Unsought product
e. Line extension
Answer: d. Unsought product
The tendency for managers to compare the performance of divisions within a company to each other using the same metrics regardless of each division's unique characteristics is known as _____ bias. a.surrogation b.division c.metrics dmon measures
Answers
Answer:
Metrics Bias.
Explanation:
Metrics is defined as a standard of measurement while bias can be explained to occur when there is lack of fairness in arriving at a decision.
Using the same metrics within a company to evaluate the performance of different divisions where each division has its own unique characteristics will not give a fair decision and due to metrics bias as the metrics used may tend to favor some divisions more than others.
Erica sells magazine subscriptions and makes a flat rate of $5. 35 for each subscription she sells. If Erica made $42. 80 on Monday, $64. 20 on Tuesday and $74. 90 on Wednesday, how many subscriptions did she sell in the three days? a. 32 b. 33 c. 34 d. 35 Please select the best answer from the choices provided A B C D.
Answers
The number of subscriptions she sell in three days is 34. The calculation is done by dividing the money earned with the rate per subscription.
What is division?Division is one of the four basic operations in math. It is used to calculate the number of small units that can be obtained from a larger unit. In the given question, the amount of earning is divided by the rate per subscription to calculate the number of subscriptions sold.
Calculation:
Given:
\(\begin{aligned} \rm Rate\:per\:subscription &= \$5.35\\ \\ Money\: earned\: on\: Monday &= \$42.80\\ \\ Money\:earned\:on\:Tuesday &= \$64.20\\ \\ Money\:earned\:on\:Wednesday &= \$74.90\\ \\ Total\: money\: earned \:in \:three \:days &= \$42.80 + \$64.20 +\$74.90\\\\ &=\$181.90\end\)
Therefore, number of subscriptions sold in three days will be:
\(\begin{aligned} \rm Number\:of\:subscriptions &=\rm \dfrac{Total\:money\:earned}{Rate\:per\:subscription}\\ \\ \rm Number\:of\:subscriptions &= \dfrac{181.90}{5.35} \end\)
Hence the number of subscriptions Erica sell in three days is 34.
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what is the motivation for the equal credit opportunity act
Answers
The motivation for the Equal Credit Opportunity Act (ECOA) was to address the widespread discrimination in the lending industry, particularly against women and minority groups. It aimed to promote fair lending practices and ensure equal access to credit opportunities for all individuals.
The Equal Credit Opportunity Act (ECOA) is a federal law in the United States that prohibits credit discrimination based on factors such as race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.
The motivation behind the ECOA was to address the widespread discrimination that existed in the lending industry, particularly against women and minority groups.
Prior to the enactment of the ECOA in 1974, lenders could deny credit or charge higher interest rates based on discriminatory practices.
This created significant barriers for individuals and communities seeking access to credit for various purposes, such as purchasing a home or starting a business.
The ECOA aimed to promote fair lending practices and ensure equal access to credit opportunities for all individuals, regardless of their personal characteristics.
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what is the formula for activity ratio
Answers
Answer:
The ratio is calculated by dividing the net sales by the working capital. The ratio helps you figure out the net annual sales generated by the average amount of working capital during a year.
Explanation:
Please mark me brainliest
Answer:
The ratio is calculated by dividing the net sales by the working capital. The ratio helps you figure out the net annual sales generated by the average amount of working capital during a year.
help me plzzz
true or false
1.negotiating styles have been standardized in international markets
2.political risk refers to political decisions, conditions, events or activities in a country business climate
Answers
1.false
2.true
Roberto and Maria Martinez have a new loan in the amount of $80,000. The interest rate is 10%. The monthly payments are $710, principal and interest. What is their loan balance after the they make two month’s worth of loan payments?
Answers
Answer:
$79,913
Explanation:
The computation of the loan balance after two months loan payments is shown below:
$80,000 × 10% = $8,000 ÷ 12 =$666.67
$710 - $666.67 = $43.33
$80,000 - $43.33 = $79,956
$79,956 × 10% = $7,995 ÷ 12 = $666.30
$710 - $666.30 = $43.70
$79,956 - $43.70 = $79,912.8 i.e. $79,913
Hence, the loan balance after two months is $79,913
The activities of the federal reserve board have the most direct influence on.
Answers
Answer:
The activities of the Federal Reserve Board have the most direct influence on: bank interest rates, monetary policy (interest rates, credit, etc.)
MS. Cruz can buy a piece of property for ₱6,500,000 cash or ₱4,000,000 down payment and ₱4,200,000 in five (5) years. If she has money earning 8% converted quarterly, which is a better purchased plan and by how much?
Answers
The payment 7,452,392.86 more, the second choice is preferable.
The initial choice is to pay $6,500,000.
The second option is paying 4,500,000 now and another 4,200,000 five years from now.
If we decide to go with the second option, we have $2,500,000 that can accrue interest for 5 years and be used to pay the balance owing
in 5 years because we have $6,500,000 minus the down payment of $4,000,000.
We use the compound interest formula since we are receiving the interest over a number of times.
This is how compound interest is calculated:
where
A is the estimated value of future cash flows.
P equals the starting sum
r equals the yearly interest rate.
n is the quantity that is compounded annually.
The time in years is t.
In the second option, we purchase the whole thing and spend a total of $8,200,000 out of our total funds of $4,000,000 (principal) + 11,652,392.86 in investments, leaving us with $7,452,392.86 after five years.
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Pls help will mark brainleist
Answers
Answer:
D Values
Explanation:
Competition among sellers (producers) lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy.
A. Explain how the above (free market competition) would be an advantage for you, the consumer.
B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.
Answers
Answer:
A. Explain how the above (free market competition) would be an advantage for you, the consumer.
Free market competition is advantageous to the consumer because it promotes the supply of many goods and services, at a lower price than other market structures like oligopoly or monopoly.
In the free market, there are many firms, none have market power, and they produce goods and services that have many substitutes. This means that if a firm raises the price of a good, consumers simply flock to another firm that offers a similar product. This mechanism obliges firms to offer their goods at the market-clearing price, which is the best price for the consumer.
B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.
Oligopolies ocurr when there are only a few firms in the market, and monopoly ocurrs when there is only one firm. These two market structures allow firms to charge higher prices than the market-clearing price, and to supply less quantity than the market-clearing quantity.
Besides, oligpolies and monopolies are characterized by high barriers to entry and exit, which keep potential competing firms out of market, inhibiting competition.
For several years now there has been many discussions focusing on what is the primary financial goal of the public corporation. Is it to maximize shareholders' wealth or satisfy all stakeholders? A growing number of companies are committed to putting other stakeholders such as employees, customers, and their communities on equal footing with shareholders. Is maximizing shareholder value inconsistent with being socially responsible? Explain.
Answers
Maximizing shareholder value and being socially responsible are not necessarily inconsistent with each other, but they can sometimes be in tension. Shareholders are typically interested in maximizing profits and returns on their investment, which may involve making decisions that prioritize short-term financial gains at the expense of social or environmental concerns.
The primary financial goal of a public corporation is often debated, with some arguing that it should be to maximize shareholder wealth while others believe that all stakeholders should be satisfied. However, a growing number of companies are recognizing that putting other stakeholders on equal footing with shareholders is important for long term success.
Maximizing shareholder value can be seen as inconsistent with being socially responsible if it involves sacrificing the well-being of other stakeholders. For example, if a company cuts employee benefits or engages in unethical business practices to increase shareholder profits, it would be considered socially irresponsible.
On the other hand, companies that take a stakeholder approach to business recognize that the long-term success of the company is dependent on the well-being of all stakeholders. They understand that investing in employees, customers, and communities can lead to increased profitability and sustainability in the long run.
However while maximizing shareholder value is important, it should not be done at the expense of other stakeholders.
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When it comes to the value of money, perfect balance is when market value is in line with what?
Answers
When face value equals comparable to what, then value of money is perfectly balanced. the market price of money.
Why is money so important?
Our basic requirements can be satisfied through the purchase of food, shelter, and healthcare thanks to money. If we lack sufficient money to meet these needs, both our own wellbeing as well as the welfare of the community overall suffer severely.
Why is money ?
Money serves as a medium of exchange, enabling individuals and organizations to get the things they require to survive and prosper. Bartering was a kind of exchange that existed before money was created. Similar to valuable metals like gold and other
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Which of the following is one of the main things to consider when evaluating a business opportunity?
A.
Customer demand for the product
B.
Style and entertainment trends
C.
The number of employees you plan to have
D.
The mission statements of competitors
Answers
One of the main things to consider when evaluating a business opportunity is option A. customer demand for the product.
Customer demand for the product refers to products and services that customers buy. It includes the quality, quantity, and trends in the products and services preferred by the customer.
Business opportunities rely on customer demands for the product and services. An increase in customer demands will increase the growth of business opportunities.
Meeting customer demands will increase the trust level of customers. It will also increase the hiring of employees and production level. If the demand for a product or service is high, the price will also increase. Production will also be increased to meet customer demand.
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Your average weekly take-home wage is $615. You take a one week paid vacation in a second week unpaid vacation. You have calculated your total annual expenses to be 31,320 per year. What is your cash surplus at the end of the year?
Answers
Answer:
$45
Explanation:
Here we need to calculate the income of this year.
We know that a year has 52 weeks. And, our payed weeks are 51, they are, the 50 weeks we work plus the one week of paid-vacation. The remaining week does not give us income, as is unpaid. So our total year income is:
51 * $615 = $31,365
So, our surplus will be our income minus our expenses:
Surplus = $31,365 - $31,320 = $45
Our cash surplus is $45
Question 2 (1 point)
Huda wants to buy soda. A 12-pack costs $9.50. She knows that with the local sales
tax of $2.00, the total should be $11.50. However, when she gets to the checkout,
the total is now $13.00. Which type of tax is Huda MOST likely paying that would
explain the extra $1.50?
estate
excise
inheritance
O income
Question 3 (1 point)
Answers
Answer:
$2:00,o income $ 1:50 huda soda most type that tax 3)1 point )
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Answers
Answer:
I xixed3odn3dno3xnomxend4ond4imx74d diendeinxe said einxiw dueoxni3d 3id 2did 2iz
RPA implementation teams should take one or more of the following actions to avoid the introduction of a potentially systemic risk. Choose of these and provide a short description in your own words of the topic and an example of how an RPA solution might present that risk. 1. Create and preserve artifacts 2. Anticipate production disruptions 3. Consider synergies of the risk and control work stream
Answers
1. Creating and preserving artefacts refers to documenting and maintaining a record of the RPA implementation process, including design decisions, configuration settings, and test results. This helps in ensuring transparency, accountability, and traceability throughout the implementation lifecycle.
2. Anticipating production disruptions involves identifying potential risks and challenges that can arise during the deployment and operation of the RPA solution and developing mitigation strategies to minimize their impact. It involves proactive planning, testing, and monitoring to ensure smooth and uninterrupted production processes.
3. Considering synergies of the risk and control work stream involves integrating risk management and control activities into the RPA implementation process. It entails aligning risk identification, assessment, and mitigation practices with the control mechanisms implemented within the RPA solution to ensure effective risk management.
1. Example of Risk:
An RPA solution might present a risk if there is a lack of documentation or proper artefact preservation. For instance, if the RPA implementation team fails to document the configuration settings or changes made during the development phase, it can lead to difficulties in troubleshooting issues, maintaining the solution, or ensuring compliance with regulatory requirements. Without proper artefacts, it becomes challenging to track the history of the RPA solution, which can introduce potential risks in terms of audibility, transparency, and control.
2. Example of Risk:
An RPA solution might present a risk if there is inadequate consideration of potential production disruptions. For example, if the implementation team fails to thoroughly test the solution in a production-like environment, it can lead to unexpected errors or failures when the RPA bots are deployed. These disruptions can cause delays, data inconsistencies, or even complete process failures, resulting in financial losses, customer dissatisfaction, or regulatory non-compliance.
3. Example of Risk:
An RPA solution might present a risk if there is a lack of coordination between the risk and control work stream. For instance, if the RPA implementation team overlooks or fails to address identified risks during the development and testing phase, it can result in vulnerabilities or weaknesses in the RPA solution's control mechanisms. These vulnerabilities can expose sensitive data, compromise system integrity, or enable unauthorized access, leading to security breaches, data breaches, or regulatory violations.
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