When auditing purchases, the audit procedure which is most likely to be used when an auditor is concerned with unrecorded transactions in the purchasing cycle is to observe receiving operations.
In an audit of purchasing transactions, unrecorded purchases are detected through the auditor's assessment of the entity's controls over receiving and recording of inventory. The auditor will pay particular attention to the possibility of purchases being recorded on the correct date. The audit procedure which is most likely to be used when an auditor is concerned with unrecorded transactions in the purchasing cycle is to observe receiving operations.
Here is a brief explanation of the audit procedure of observing receiving operations:
Observing Receiving Operations: Observing receiving operations is the procedure in which the auditor examines whether the goods have been received and checked by the client and whether the receipt is correctly recorded. This approach involves physically observing the goods being received and recording the related documentation.This procedure is particularly useful for detecting unrecorded purchases. If a purchase is made without any record of it, the auditor would be able to detect it through observing receiving operations.
Learn more about audit:-
https://brainly.com/question/30436864
#SPJ11
How are SI units supportive to traders?
Some common SI units
Mass=KgTemperature=KLuminous intensity=CandelaCurrent=AmperePressure=Paa balanced scorecard typically includes: a. all of the choices are correct b. financial measures c. internal processes measures d. customer satisfaction measures
Financial measurements, customer happiness measures, and internal processes measures are frequently included on a balanced scorecard. Here option A is the correct answer.
A balanced scorecard helps firms identify and improve their internal processes in order to improve their external results. It is a strategic management performance statistic.
It assesses prior performance data and gives firms suggestions on how to go forward with better selections. The use of a scorecard has several advantages. The ability to compile information into a single report is one of the most significant benefits since it may help you save time, money, and resources.
Along with collecting financial data, it also enables businesses to monitor their performance in terms of quality and customer service. Scorecards help businesses identify and eliminate inefficiencies.
To learn more about balanced scorecard
https://brainly.com/question/25645358
#SPJ4
How much interest will Henry save if he finances the vehicle over 36 months instead
What does the Beginning Balance column in the Trial Balance View in the Prep for taxes tool indicate
The beginning balance column in the tool indicates the balance in the clients account.
What is the prep for taxes tool?This is an online tool that helps with the reviews of the account of a client online through the help of one dashboard.
The tool is also known to have a close resemblance to the trial balance.
These kind of tools are useful to theclient for their tax preparation.
Read more on taxes preparation tools here:
https://brainly.com/question/25870256
PLZ HELP this is Econ btw !!! How can technology as a determinant decrease supply? Explain or give
an example.
Answer:
as we simply know the technology degradation will increase the cost of production and decrease the profit and when there will be less profit the supplier supplies less goods in the market
hence the supply will decrease.
vice versa in the case of technology improvement.
is it fine?
What federal laws protects you if you have a complaint regarding consumer credit?
Answer: The Consumer Credit Protection Act (CCPA)
Explanation:
In 1968, The Consumer Credit Protection Act was enacted was enacted so that people would only received fair credit practices and also to protect the consumers from harm
According to the CCPA, the total cost that is involved with regards to a loan must be disclosed. Therefore, the federal laws that protects you if you have a complaint regarding consumer credit is The Consumer Credit Protection Act (CCPA).
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
Read more about net income here:
https://brainly.com/question/28390284
#SPJ1
A bond that was issued one year ago and has 5 more years until maturity, a yield to maturity (YTM) of 7.80%, and a price of $934.69. The bond's par value of $1,000 is returned at maturity. Which of the following is true of the coupon rate of this bond?
a.The coupon rate is below the YTM because the bond's price is below the par value.
b.The coupon rate, defined as the YTM times the price, must be 7.80%.
c.The coupon rate is above the YTM because the bond's price is below the par value.
d.The coupon rate, defined by the bond price divided by the par value, is 92.20%.
e,The coupon rate equals the YTM because the bond's price is below the par value.
The answer to the question is option A. The coupon rate is below the YTM because the bond's price is below the par value. the bond is less than the yield to maturity (YTM) of 7.80
The yield to maturity (YTM) of a bond is the total return expected if the bond is held until it matures. It is calculated as an interest rate and depends on the bond's coupon rate, price, and time to maturity. The bond's price, yield to maturity (YTM), and coupon rate are all interrelated. A bond's coupon rate is the annual amount of interest it pays to bondholders, expressed as a percentage of the bond's par value. The par value of the bond is the amount that will be returned to investors when the bond matures. The coupon rate on a bond is fixed at the time of issuance and does not change over the life of the bond. A bond's price is the present value of its future cash flows, including interest payments and the par value payment at maturity.
When a bond's price is below its par value, it is said to be trading at a discount, which means its coupon rate is less than the yield to maturity (YTM). Conversely, when a bond's price is above its par value, it is said to be trading at a premium, which means its coupon rate is higher than the yield to maturity (YTM).
The formula for calculating the coupon rate of a bond is as follows:
Coupon rate = (Annual coupon payment / Face value of bond) x 100
Using the information given in the question, the coupon rate can be calculated as follows:
Coupon rate = ($1,000 x 7.80%) / $934.69
Coupon rate = $78 / $934.69
Coupon rate = 0.0834 or 8.34%
Therefore, we can see that the coupon rate of the bond is less than the yield to maturity (YTM) of 7.80%.
To learn more about coupon rate
https://brainly.com/question/28528712
#SPJ11
A Bond strategy that attempts to buy a bond to match a specific time frame is.... Select one: a. Mutual Fund Strategy b. Interest Rate Strategy c. Passive Strategy d. Maturity Matching Strategy e. Bond Ladders
The bond strategy that attempts to buy a bond to match a specific time frame is known as the Maturity Matching Strategy. The correct option is d.
This approach involves selecting a bond with a maturity date that aligns with the investor's financial goals or time horizon. The primary objective of this strategy is to mitigate the interest rate risk associated with bond investments.
By using this approach, the investor aims to receive the principal and interest payments at a predetermined time, which is typically when the investment is needed to fund a specific goal. For instance, if an investor wants to fund their child's college education in 10 years, they may purchase a bond with a maturity date that aligns with that time frame.
The Maturity Matching Strategy is a long-term strategy that requires careful planning and research to identify bonds that match the investor's specific time horizon. This approach is particularly useful for investors who prioritize capital preservation over maximizing returns. It also allows investors to avoid selling their bonds prematurely and potentially incurring losses due to interest rate fluctuations.
In summary, the Maturity Matching Strategy is a passive approach that aims to align the maturity of a bond investment with the investor's financial goals. It is an effective way to manage interest rate risk and achieve long-term financial objectives.
To know more about Maturity Matching Strategy visit:
https://brainly.com/question/28013143
#SPJ11
Rising interest rates have made borrowing more costly to consumers. As a result
of the most recent increase in interest rates, borrowing and consumption have
fallen throughout the economy, triggering a contractionary period. Growing
uneasy, citizens have been asking Congress to make an official statement as to
how long this contractionary period is expected to last. Which of the following is
an appropriate response?
Answer:
it depends on the measures taken to ensure that economy is stable.
Answer:
1. it is difficult to say since contractionary periods have varying lengths in different business cycles.
2. shock
3. high unemployment
4. two
5. expansion stage of the business cycle
Explanation:
just took it
What can be said about the culture of services?
I. Processes are invisible
II. Processes are well defined
III. More scientific
IV. Not well defined or documented
A. I, II, and III only
B. I, II, and IV only
C. II, III, and IV only
D. All of the above
In the service culture, processes are invisible and procedures are not well defined or documented. This culture is focused on customer service, to provide the best experience.
Therefore, processes are invisible, that is, the customer is not able to identify internal processes if they are not useful, but they must perceive the service as a mystery where all their needs are promptly met.
In the service culture, this is also not well defined or documented, so as not to create standardization of the service, but a personalized service that meets the needs of each customer individually.
Therefore, in the service culture, the focus is on offering the best experience for the customer, through the creation of value, excellent service and employees capable of satisfying their needs.
The service culture is capable of generating greater competitiveness, customer loyalty and positioning for a company.
Learn more here:
https://brainly.com/question/15401740
A demand curve is built on the assumption that Multiple Choice the firm does not advertise. price remains the same, and fixed costs change. income is derived from demand.
The correct assumption that forms the basis for building a demand curve is price remains the same. Here option B is the correct answer.
A demand curve is a graphical representation of the relationship between the price of a product and the quantity of that product that consumers are willing and able to purchase at various price levels, assuming other factors remain constant. The assumption that price remains the same allows us to analyze how changes in price affect consumer behavior and the quantity demanded.
While advertising, fixed costs, and income can certainly influence demand, they are not the primary assumption underlying the construction of a demand curve. Advertising, for example, can impact consumer awareness and brand perception, but it does not directly determine the relationship between price and quantity demanded.
Fixed costs represent the expenses a firm incurs regardless of the level of production or demand, but they are not directly related to the demand curve. Income, although an important factor influencing consumer purchasing power, is not specifically tied to the construction of a demand curve. Therefore option B is the correct answer.
To learn more about the demand curve
https://brainly.com/question/1139186
#SPJ11
Complete question:
Which of the following assumptions is the basis for building a demand curve?
A) The firm does not advertise.
B) Price remains the same.
C) Fixed costs change.
D) Income is derived from demand.
VW’s decision to commit significant financial and R&D resources to electric vehicles can best be described as ____ approach to business ethics.
VW’s goal of being the world leader in electric vehicles together with its decision to devote large resources to the effort signals
When considering the implications of its decision to provide an electric version of its cars, VW
THE ONES I CHOSE ARE WRONG ANSWERS
The best approach to business ethics by VW's decision to commit significant financial and R&D resources to electric vehicles can be described as forward-looking business ethics.
Business ethics refers to the principles and values that guide behavior within a company or business organization to ensure that all stakeholders (customers, shareholders, employees, and the community at large) are treated with fairness and respect. Business ethics is the set of principles that guides an organization in achieving its objectives in a socially responsible and ethical manner. Volkswagen’s decision to commit significant financial and R&D resources to electric vehicles is an example of forward-looking business ethics. This is because the company has taken a proactive approach to addressing its environmental impact by investing in technology that reduces emissions and helps to mitigate climate change. Volkswagen's investment in electric vehicles demonstrates its commitment to the environment, which is one of the key drivers of corporate social responsibility. Volkswagen's decision to invest in electric vehicles is also an example of forward-looking business ethics because it demonstrates the company's willingness to adapt to changing consumer preferences and market trends. As more consumers demand electric vehicles, companies that fail to invest in this technology risk losing market share and becoming obsolete. Therefore, by investing in electric vehicles, Volkswagen is positioning itself as a leader in the automotive industry and ensuring its long-term success.
For more such questions on business ethics.
https://brainly.com/question/26461133
#SPJ11
n the Keynesian model a recessionary gap will develop if there is: Multiple Choice too little spending. a decrease in average labor productivity. too much spending. an increase in average labor productivity.
In the Keynesian model, a recessionary gap will develop if there is too little spending. The answer is A.
A recessionary gap occurs when the actual aggregate demand falls short of the aggregate supply, leading to lower production levels, underemployment, and a decrease in overall economic activity. Too little spending results in lower consumption and investment, which in turn reduces the aggregate demand and causes a recessionary gap.
On the other hand, an increase or decrease in average labor productivity does not directly cause a recessionary gap, as it influences the economy's productive capacity rather than aggregate demand.Government policies and investments in education and technology can lead to economic growth.
To know more about recessionary gap, refer to the link:
https://brainly.com/question/15073675#
#SPJ11
In computing gdp, market prices are used to value final goods and services because?.
Marketplace charges do now no longer ex-trade a whole lot over time, so it is straight forward to make comparisons among years. Marketplace charges replicate the values of products and services.
The required details for marketplace rate in given paragraph
The marketplace rate is the cutting-edge rate at which an asset or carrier may be sold or sold. The marketplace rate of an asset or carrier is decided with the aid of using the forces of deliver and demand. The rate at which amount provided equals amount demanded is the marketplace rate. The marketplace rate is used to calculate customer and financial surplus. Consumer surplus refers back to the distinction among the highest rate a customer is inclined to pay for an awesome and the actual rate they do pay for the good, or the marketplace rate. Economic surplus refers to 2 associated quantities: customer surplus and manufacturer surplus.
Producer surplus will also be known as profit: it's far the quantity that manufacturers advantage with the aid of using promoting on the marketplace rate . Economic surplus is the sum general of customer surplus and manufacturer surplus.
To know about marketplace rate click here
https://brainly.com/question/16484607
#SPJ4
3. When you find an error on a credit report, what are 2 things to do?
Answer:
If you've spotted an error on one of your credit reports, you should take immediate steps to correct the inaccuracy.
-Send a letter to the credit bureau.
-Determine if you should contact the data furnisher as well.
Explanation:
okay?
what is home trade businness
Answer:
Home trade is the buying and selling of goods (with the aim of making profit) among people of the same country.
Explanation:
At the end of the current year, accounts receivable has a balance of $4,375,000; allowance for doubtful accounts has a debit balance of $21,300; and sales for the year total $102,480,000. Using the aging method, the balance of allowance for doubtful accounts is estimated as $205,000.
Accounts receivable had a balance of $4,375,000 at the conclusion of the current fiscal year; the amount of the adjusting entry was 226300 = 20500.
What is the accounts receivable balance right now?Accounts Receivable has a balance of $4,375,000 at the end of the current fiscal year, Allowance for Doubtful Accounts has a debit balance of $21,300, and sales for the year total $102,480,000. The cost of bad debt is predicted to be 1/4 of 1% of sales.
What benefits and drawbacks come with selling receivables?One benefit of selling receivables is that the company gets cash right away for operations and other requirements. A portion of the risk of uncollectible accounts may be transferred to the buyer, depending on the sales agreement.
To learn more about Account Receivable here:
https://brainly.com/question/24261944
#SPJ4
1
"I put $200 into my retirement account at work," Maisie says. "And I see that my employer put in $200 in the same account! What is this?" What is
Maisie describing?
A. medical insurance
O B. worker's compensation
OC. matching funds
O D. Social Security
um. All rights reserved.
Reset
Next
G
In matching funds, as Maisie is discussing, her company makes a contribution to her retirement account that is equal to the one she makes.
What do you mean by matching funds?funding matches. a confirmed cash contribution or financial commitments from approved sources, free of any conflicts of interest, that are used for approved project purposes during the grant financing period.
How do match funds function?The non-federal portion of the total project expenditures that a grantee must contribute in order to fulfill the objectives of the award is known as a match for a federal grant. The program RFP should be consulted because the needed match percentage, sources of match, and other conditions differ from program to program.
To know more about matching funds visit:
https://brainly.com/question/29560628
#SPJ1
Your finance rate is determined by your credit history and credit rating.
True
False
Answer: True!
Explanation:
A customer purchases materials for $1200 with payment due in 30 days.
After 20 days $200 worth of the material is returned because it is damaged what amount is entered in the debit column of the customer's ledger file?
A. $1,400
B. $1,000
C. $200
D. $1,200
Based on the explanation below, the amount that will be entered in the debit column of the customer's ledger file is D. $1,200.
Effect of credit sales and sales returns on customer's ledger fileIt should be noted the purchase by the customer is a credit sale to the seller.
In the book of the seller, the $1,200 is entered in the debit column of the customer's ledger file immediately after the customer purchases materials of $1200.
However, since the effect of sales return is to reduce the total amount of sales made to a customer, $200 will be entered in the credit column of the customer's ledger file after the return.
Therefore, $1,200 is entered in the debit column of the customer's ledger file.
Learn more about credit sales here: https://brainly.com/question/24261944.
#SPJ1
Essential Activities:
Complete the Excel Skills Review 4.1—Manipulate Worksheets by Naming, Changing Colors, Moving, Grouping, Adjusting Columns and Rows, Adding Headers and Footers, Applying Themes in an Attendance Log, p. EX 189-193.
Notes:
You will open the start file provided and SAVE AS directed.
Follow the directions provided.
Upload the Excel file.
The assignment is due by Sunday, June 12, at 11:59 PM EST.
The assignment requires completing the Excel Skills Review 4.1 on manipulating worksheets by performing various tasks such as naming, changing colors, moving, grouping, adjusting columns and rows, adding headers and footers, and applying themes in an Attendance Log.
To complete the assignment, you will need to open the provided start file and follow the given directions. The tasks involve manipulating worksheets in an Attendance Log using various Excel functions. These tasks include naming sheets, changing colors to highlight specific information, moving sheets within the workbook, grouping sheets for easier management, adjusting columns and rows for proper data organization, and adding headers and footers to customize the appearance of the worksheets.
Additionally, you will be required to apply themes to the worksheets to enhance their visual appeal and consistency. It is important to carefully read and follow the instructions provided to ensure accurate completion of each task.
Once you have completed all the required tasks, save the modified Excel file as directed and upload it before the assigned deadline. This assignment aims to assess your proficiency in manipulating worksheets in Excel and demonstrating your understanding of various formatting and organizational features within the software.
Learn more about Excel functions here:
https://brainly.com/question/30324226
#SPJ11
a uniformed member is tdy to a u.s. installation, will be staying in government quarters, and has all three meals available in a government dining facility. which meal rate will apply to the traveler?
A credit card holder has an outstanding balance on four different credit cards. which method of paying off the credit card will save the most money? a. snowballing payments according to the highest interest rate b. snowballing payments according to the lowest balance c. making fixed payments each month d. paying the minimum balance each month
The method of paying off the credit card that will save the most money is snowballing payments according to the highest interest rate.
This method involves making the minimum payments on all credit cards except the one with the highest interest rate, on which the debtor will make the largest payment possible. Once the card with the highest interest rate is paid off, the debtor moves on to the next card with the highest interest rate and so on until all the cards are paid off. This method saves the most money because it reduces the amount of interest that accrues over time.
In contrast, snowballing payments according to the lowest balance (option b) may provide a psychological boost by quickly eliminating a debt, but it may not save as much money in the long run. Making fixed payments each month (option c) and paying the minimum balance each month (option d) will result in more interest being paid over time and will therefore not save as much money as snowballing payments according to the highest interest rate.
Learn more about interest rate here
brainly.com/question/13324776
#SPJ4
Which of the following statements best characterizes the bottom line of security for e-commerce?
A) Good security is expensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.
B) Good security is inexpensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.
C) Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure.
D) Good security is inexpensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure.
Answer:
Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure. C
Explanation:
Who did the Lakers beat today?
Answer:
nobody cuz they suc
Explanation:
Answer:
THE LAKERS BEAT TRUMP BECAUSE TRUMP IS A LOSER
Explanation:
when a zoning ordinance is revised, some existing land uses then fall outside the new zoning classification. these land uses are referred to as:
When a zoning ordinance is revised, some existing land uses then fall outside the new zoning classification. these land uses are referred to as: Non confirming uses.
When a zoning requirement is enacted or altered to forbid a certain use that was permissible before the change or enactment, a nonconforming use is produced. While most municipal zoning regulations describe nonconforming land uses, New York state statutes do not.
As an illustration, a typical municipal law would read as follows: "A nonconforming use is any use of a building, tract of land, or both, established on the effective date of this chapter, which does not comply to the use requirements of the district in which it is located.
To learn more about non conforming use click here:
https://brainly.com/question/14191686
#SPJ4
a company has net income of $150,000, interes expense of $20,000, average total assets of $1,200,000+and+a+tax+rate of 35%. the return on total assets is ______.
A company has a net income of $150,000, interest expense of $20,000, average total assets of $1,200,000, and a tax rate of 35%. the return on total assets is 7.04%.
To calculate the return on total assets (ROTA), we divide the net income by the average total assets and express it as a percentage.
Given:
Net Income = $150,000
Interest Expense = $20,000
Average Total Assets = $1,200,000
Tax Rate = 35%
First, we need to determine the earnings before taxes (EBT) by subtracting the interest expense from the net income:
EBT = Net Income - Interest Expense
EBT = $150,000 - $20,000
EBT = $130,000
Next, we calculate the tax amount by multiplying EBT by the tax rate:
Tax = EBT * Tax Rate
Tax = $130,000 * 0.35
Tax = $45,500
Now, we can calculate the earnings after taxes (EAT) by subtracting the tax amount from the EBT:
EAT = EBT - Tax
EAT = $130,000 - $45,500
EAT = $84,500
Finally, we calculate the return on total assets by dividing the EAT by the average total assets and expressing it as a percentage:
ROTA = (EAT / Average Total Assets) * 100
ROTA = ($84,500 / $1,200,000) * 100
ROTA = 0.0704166667 * 100
ROTA ≈ 7.04%
Therefore, the return on total assets for the given data is approximately 7.04%. It indicates that for every dollar of average total assets, the company generated approximately 7.04 cents of net income after taxes. The ROTA helps assess the company's efficiency in utilizing its assets to generate profits and provides insights into its overall profitability and performance.
The question was incomplete, Find the full content below:
a company has a net income of $150,000, interest expense of $20,000, average total assets of $1,200,000, and a tax rate of 35%. the return on total assets is ________.
Know more about Return on total assets (ROTA) here:
https://brainly.com/question/32167146
#SPJ11
what concept of scarcity refers to what idea
Answer:
D
Explanation:
people have limited resources to fufill their unlimited wants.
this one just sounded right to me.
sorry if this is wrong
Question 2 of 10
Standards of behavior that govern how individuals and companies act are
called
A. morals
B. codes
C. ethics
D. behaviors
Answer:
C.
Explanation:
The term used to define standards of behavior that governs individual's and companies conduct is ethics.
The term ethics is derived from the Greek word ethos, meaning, way of living. Ethics comes under the rubric of philosophy and is related to the subject of human conduct, especially concerning the actions of humans towards the society.
Ethics are those moral principles in which the conduct of companies and human behaviors are anchored.
Therefore, the correct answer is option C.