after considering the client's internal control, the auditors have concluded that it is well-designed and is functioning as anticipated. under these circumstances, the auditors would most likely: multiple choice reduce substantive procedures in areas where the internal control was found to be effective. decrease the extent of tests of controls. increase the extent of anticipated analytical procedures. cease to perform further substantive procedures.
Answers
The internal control system is effective, the auditors can rely on it to minimize the risk of misstatement and reduce substantive procedures to a bare minimum.
After considering the client's internal control, the auditors have concluded that it is well-designed and functioning as anticipated. Under these circumstances, the auditors would most likely decrease the extent of tests of controls. This is because they have found the client's internal controls to be well-designed and functioning properly, which reduces the risk of misstatements in the financial statements. As a result, the auditor can rely on the client's internal controls and reduce the extent of testing required. In this situation, the auditor must perform a walkthrough to comprehend and document the client's internal controls. The auditors must also evaluate the operating efficiency of the internal controls and examine them for compliance with management policies and procedures. The auditors must also examine and examine any changes in the controls and document and analyze the risks and criticality of any control flaws or weaknesses that were discovered.Auditors would likely reduce substantive procedures in areas where internal control was found to be effective. Analytical procedures may be used to evaluate account balances for consistency and assess whether the account balances are plausible or require further analysis. However, because the internal control system is effective, the auditors can rely on it to minimize the risk of misstatement and reduce substantive procedures to a bare minimum.
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Related Questions
If MM's Proposition I holds, minimizing the weighted average cost of capital (WACC) is the same as maximizing the
a. profits of the firm.
b. book value of the firm.
c. market value of the firm.
d. liquidating value of the firm
Answers
If MM's Proposition I holds, minimizing the weighted average cost of capital (WACC) is the same as maximizing the market value of the firm. The Modigliani-Miller Proposition I is a financial theory that states that the value of a company is independent of its capital structure.
The correct option is c .
In other words, the total value of the firm is determined by its earning power and the risk of its underlying assets, which are unaffected by its choice of financing. MM Proposition I implies that the cost of capital of a company is independent of its financing mix, whether it is financed by equity or debt, and therefore there is no optimal capital structure. What is the weighted average cost of capital (WACC)?The weighted average cost of capital (WACC) is the average cost of a company's debt and equity capital, weighted by their respective proportions.
It is the minimum return that investors require to finance a company's operations, and it reflects the riskiness of the company's assets and the cost of borrowing. What is the relationship between WACC and firm value?According to MM Proposition I, the weighted average cost of capital (WACC) is independent of a company's capital structure, and therefore minimizing WACC is the same as maximizing the market value of the firm. This means that the lower a company's WACC, the higher its market value, because a lower WACC means that the company is less risky and more profitable. Therefore, by minimizing WACC, a company can increase its market value, which is the ultimate goal of any firm. Thus, option (c) is the correct answer. To summarize, MM Proposition I states that the value of a company is independent of its capital structure, and minimizing WACC is the same as maximizing the market value of the firm.
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The actual budget deficit of the federal government in 2009 was about $1.4 trillion. On the basis of this information, it:
Question 16 options:
a. can be concluded that the economy was faced with serious inflation in 2009.
b. cannot be determined whether the government engaged in expansionary or contractionary fiscal policy in 2009.
c. can be concluded that fiscal policy was expansionary in 2009.
d. can be concluded that fiscal policy was contractionary in 2009.
Answers
The actual budget deficit of the federal government in 2009 was about $1.4 trillion. On the basis of this information, it can be concluded that fiscal policy was expansionary in 2009.
The actual budget deficit of $1.4 trillion indicates that the federal government spent more than it collected in revenue during that year. An expansionary fiscal policy is characterized by increased government spending and/or decreased taxes to stimulate economic growth and address economic challenges. In this case, the large budget deficit suggests that the government engaged in expansionary fiscal policy in 2009.
Expansionary fiscal policy aims to boost aggregate demand, promote economic activity, and mitigate the effects of a recession or economic downturn. By running a budget deficit, the government injects more money into the economy, which can help stimulate consumer spending, business investment, and overall economic growth.
Therefore, based on the information provided, it can be concluded that fiscal policy was expansionary in 2009.
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Tell me 3 characteristics of money?
Answers
1.) durability
2.) acceptability
3.) scarcity
4.) portability
5.)divisibility
6.)uniformity
choose any three u want! :)
Characteristics of Money.
Answer:
(a) Divisibility
(b) Limited supply
(c) Durability
More:
(d) Portability
(e) Acceptability
(f) Uniformity
These are the characteristics of money.
Hope it helps!!Please mark me as the brainliest!!!Thanks!!!!❤❤
What is market economy?
Answers
Answer: an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.
Answer:
an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.
Explanation:
Does decreasing the value of the local currency contributes in the increase of the economic growth rate
Answers
Answer:
Yes
Explanation:
Devaluation is the purposeful reduction of the value of a nation's currency in relation to another currency or group of currencies. When the currency is devalued, it can lead to an increase in the export of the nation's produce because the price of the exported goods is cheaper and foreign countries are most likely to purchase cheap goods.
The economic growth rate of a nation is the change in percent of goods and services produced in a country over a period of time. It gives an idea of the income of the average citizen in the country. When the value of the local currency is devalued, exports will increase and that will also cause an increase in the income of citizens. This translates to a resultant increase in the economic growth rate of the nation.
For six months, Joel paid the minimum amount due on his credit card bill on time and didn't see his balance rise as a result. Then, he saw the amount owed suddenly jump. What is one possible reason this happened?
A. He was charged a minimum-payment penalty.
B. His interest rate increased.
C. He was charged an overdraft fee.
D. Late fees were added to his bill.
Answers
The sudden rise in the credit card bill of Joel would be due to the increase in rates of interest.
Option B is correct.
What is interest rate?
Interest rate is the percentage being charged on the total amount of borrowed funds being taken by the borrower.
Joel 's credit card bill seemingly risen which he wouldn't noticed in spite of being paid the amounts on time. This happens due to rise in rates of interest being levied on the total amount of credit card.
Therefore, the reason being mentioned in Option B is correct.
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When the stock market as a whole is rising in value then it is referred to as a bear market. True or false?
Answers
Answer: False
Explanation: A bear market is when a market experiences prolonged price declines. It typically describes a condition in which securities prices fall 20% or more from recent highs amid widespread pessimism and negative investor sentiment.
The Magnuson-Moss ______ Act directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products.
Answers
Answer: Warrantly
directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products.
-1 1. Which of the following budget terms mean the same thing?
a) surplus and deficit
c) surplus and break-even
b) break-even and balanced d) deficit and balanced
Answers
Answer:
b
Explanation:
none just trust me..............
answer this question plz n thank you. (posted the 1st n 2nd question. gonna post 2 other ones.)
3. Many jobs in the Personal Services pathway—such as hairdresser, personal trainer, massage therapist or barber—involve caring for people’s physical needs. List two important qualities that might be needed for success in these kinds of careers and explain how each of the qualities you mentioned are important to finding success in this field.
Answers
Answer:
Confidece, and empathy.
Explanation:
Confidence to know you will do great at your job, and empathy to know how others feel about themselves!
Hope this helps! Brainliest plz!
can i doit without pay
Answers
Answer:
what?
Explanation:
You want to write a press release about a free new app you're offering. The app allows people to keep track of what they've eaten each day and reports on nutritional value and calories. It also creates customized recommendations for improving your diet. By emphasizing the cost-free nature of this useful tool in the press release, you are primarily relying on which principle of persuasion?
Answers
The principle of reciprocity is being used when emphasizing the free nature of the useful tool in the press release, as this principle generates a reciprocal response to individuals.
What is the principle of reciprocity?It corresponds to an approach developed by Cialdini, who states that reciprocity is the first principle of persuasion, as individuals are conditioned to reciprocate favors and concessions to others.
Therefore, by using the principle of reciprocity, emphasizing the free nature of the new app, the company hopes to generate more attention, use and positive response from the target audience as a form of retribution.
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How to study using a 450 pg online college textbook in which you are asked detailed questions and scenarios.. It's overwhelming.
Answers
Answer:
Explanation:
There are many things in life that will seem overwhelming due to the how large and complex all of the data may be. The best way to get through these moments is to divide the task into smaller parts and sit down and dedicate time to it. For such a textbook divide the total amount of pages and read a little bit at a time, take breaks, reflect on what you have read, answer practice questions, and continue to the next group of pages. You will see after getting started that it is not as overwhelming anymore.
Pharoah, Inc. began work on a $7,187,000 contract in 2020 to construct an office building. During 2020, Pharoah, Inc. incurred costs of $1,801,900, billed its customers for $1,247,000, and collected $1,044,000. At December 31, 2020, the estimated additional costs to complete the project total $3,068,100.
Prepare Pharoah’s 2020 journal entries using the percentage-of-completion method.
Answers
Percentage-of-completion method is a method of accounting for long-term contracts, where a proportionate amount of revenue and expenses are recognized in each period, according to the proportion of work completed. Under this method, Pharoah, Inc. began work on a $7,187,000 contract in 2020 to construct an office building.
During 2020, Pharoah, Inc. incurred costs of $1,801,900, billed its customers for $1,247,000, and collected $1,044,000. At December 31, 2020, the estimated additional costs to complete the project total $3,068,100.The journal entries to be made under the percentage of completion method are as follows:Journal entry to record work in progress debit Work in Progress account credit Construction in Progress account (Costs incurred during the year) $1,801,900 debit Accounts Receivable account credit
Billings on Construction in Progress account (Amount billed during the year) $1,247,000 debit Cash account credit Accounts Receivable account (Amount collected during the year) $1,044,000debit Construction in Progress account credit Estimated Earnings account (2020 portion of estimated gross profit) [($1,247,000/$7,187,000)*($7,187,000-$3,068,100)] $473,231.
02debit Estimated Earnings account credit Income Summary account $473,231.02.
Thus, the Journal entry using the percentage-of-completion method are:
Work in Progress account .......................$1,801,900
Construction in Progress account.............$1,801,900
Billings on Construction in Progress account...............$1,247,000
Accounts Receivable account..............................$1,247,000
Cash account..................................................$1,044,000
Accounts Receivable account...............................$1,044,000
Construction in Progress account .........................$473,231.02
Estimated Earnings account................................$473,231.02
Estimated Earnings account .................................$473,231.02
Income Summary account ......................................$473,231.02
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5. What is one benefit of having a career as opposed to a job?
A:advancement
B:money
C :ability to pay bills
D :extra education
Answers
A.advancement
Answer:
the answer is A: advancement
Explanation:
I took the quiz and got 100% and the only other one that make sense is money but you get money from a job
"free enterprise" and "________________" are terms for an economy based on private businesses competing for profits in open markets with minimal government regulations.
Answers
Answer:
entrepreneurship for them and
Olive Company makes silver belt buckles. The company’s master budget appears in the first column of the table. Required: Complete the table by preparing Olive’s flexible budget for 5,100, 7,100, and 8,100 units. (Round your intermediate calculations to 2 decimal places.) Master Budget 6100 Units Flexible Budget 5100 Units Flexible Budget 7100 Units Flexible Budget 8100 Units Direct Materials $ 1830 Direct Labor 2440 Variable manufacturing overhead 2440 Fixed Manufacturing Overhead 18200 Total manufacturing cost 24910
Answers
To complete Olive Company's flexible budget for 5,100, 7,100, and 8,100 units, the following calculations need to be made: Direct Materials, Direct Labor, Variable manufacturing overhead, and Total manufacturing cost.
To prepare Olive Company's flexible budget, the costs need to be adjusted based on the different levels of production. The flexible budget for 5,100 units can be calculated by multiplying the master budget amounts by the ratio of 5,100 units to 6,100 units. Similarly, the flexible budget for 7,100 units and 8,100 units can be calculated using their respective production ratios. Once the ratios are applied, the values for Direct Materials, Direct Labor, Variable manufacturing overhead, and Fixed Manufacturing Overhead can be determined for each level of production. This will provide a more accurate representation of the expected costs at different production levels.
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help quick!
According to the video, which qualities do Insurance Underwriters need? Check all that apply.
O communication skills
O customer service skills
Ocomputer skills
Oknowledge of sales strategies
Oan outgoing attitude
O a background in finance
Answers
Answer: 1 3 6 or A C F
Explanation:
I just did it on the edge
Answer:
ACF
Explanation:
got it correct on Edge 2020
Production is not complete Until goods
reaches the final Consumer Explain
Answers
Answer:
B. goods reached the final consumer
Multiple-choices
A. goods gets to the wholesaler
B. goods reached the final consumer
C. factors of production are combined
D. goods are ready for transportation
E. wholesalers ask the firms to produce
Explanation:
Like all other businesses, a firm that produces goods for sale is driven by profit motives. The producer's main objective is to make goods that satisfy the customer's need and make profits. For this objective to be met, the producer must find a way of getting the goods to the consumer.
A marketing distribution channel or the distribution channel is the avenue producers use to deliver their products to final consumers. The channel has businesses ranging from distributors, wholesalers to retailers. The retailer is the final trader who sells directly to consumers. It is the consumer that pays the price for the goods, thereby earning the producer their profits.
Which responsibilities does an organization have to contribute to an effective employee onboarding program?
Answers
An effective employee onboarding program requires a commitment from the organization to provide the necessary resources, training, and support to help new employees succeed.
How can an organization contribute to an effective employee onboarding program?An effective employee onboarding program is critical to the success of any organization. It helps new employees feel welcome, informed, and prepared for their new role. The following are some of the responsibilities that an organization has to contribute to an effective employee onboarding program:
Provide a clear job description: The organization should provide the new employee with a clear job description that outlines their responsibilities, tasks, and expectations. This will help the employee understand their role and responsibilities from the outset.Provide relevant training: The organization should provide relevant training to new employees to help them understand the company culture, policies, and procedures. This can include training on the organization's technology systems, software, and tools, as well as training on safety and security protocols.Assign a mentor or buddy: The organization should assign a mentor or buddy to the new employee, who can provide guidance, support, and answer any questions they may have during their onboarding process.Provide resources: The organization should provide resources such as employee handbooks, manuals, and other materials that can help new employees learn about the company culture and history.Schedule regular check-ins: The organization should schedule regular check-ins with new employees to ensure that they are settling in well and are getting the support they need.Provide feedback: The organization should provide regular feedback to new employees to help them improve their performance and adjust to their new role.Create a welcoming environment: The organization should create a welcoming environment for new employees, including introducing them to their team, organizing team-building activities, and providing opportunities for socializing and networking.Learn more about effective employee onboarding program
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a good reason to invest in new-product development is _______.
Answers
A excellent incentive to make investments in fresh product development is to support corporate growth. Items that augment a company's current product range are termed additions to the existing product line.
Following the generation of ideas, the following stage inside the process of product development is concept testing.
Products that appear promising following the business analysis phase of product development move on to the early stages of development.
Commercialization involves deciding how to put a good on the market.
Companies strive to create items that are attractive to employers globally since product development may well be time demanding and expensive.
Innovators are the first people to accept new things. The mature stage of a PLC is indeed the point at which sales revenue peaks owing to market dominance.
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Suppose that when the price of laundry detergent decreases from $4. 10 to $3. 50, quantity supplied decreases from 260 to 180.
Using the mid-point elasticity approach, calculate price elasticity of supply
Answers
The price elasticity of supply, calculated using the mid-point elasticity approach, for the given change in price from $4.10 to $3.50, resulting in a decrease in quantity supplied from 260 to 180, is approximately 0.81.
The mid-point elasticity formula is given by:
Elasticity = ((Q2 - Q1) / ((Q1 + Q2) / 2)) / ((P2 - P1) / ((P1 + P2) / 2))
Substituting the given values into the formula, we get:
Elasticity = ((180 - 260) / ((260 + 180) / 2)) / (($3.50 - $4.10) / (($4.10 + $3.50) / 2))
= (-80 / (440 / 2)) / (-0.60 / (7.60 / 2))
= (-80 / 220) / (-0.60 / 3.80)
≈ 0.81
Therefore, the price elasticity of supply is approximately 0.81. This value indicates that the supply of laundry detergent is relatively inelastic, meaning that a change in price does not have a proportionately large effect on the quantity supplied.
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What statement best describes good interview preparation?
1) An applicant should arrive at least an hour before the interview starts.
2) An applicant should discuss personal hobbies as much as possible in an interview.
3) An applicant should be well-dressed for an interview.
4) An applicant should make personal job demands known in an interview.
Answers
Answer:
I think it is the 3rd one.
Explanation:
Sorry if this wrong. I'm only in 5th grade
Answer: the answer is c
Explanation:
Jacob’s daily tips this work week were $99, $78, $58, $91, $90, and $68. Is Jacob correct in thinking that the median best represents how much money he makes in daily tips? No, Jacob is not correct. The mean amount he makes is $82. 67 in a day. Yes, Jacob is correct. The mean amount he makes is $81. 67 in a day. No, Jacob is not correct. The median amount he makes is $86. 00 in a day. Yes, Jacob is correct. The median amount he makes is $84. 00 in a day.
Answers
Jacob’s daily tips this work week were $99, $78, $58, $91, $90, and $68. Is Jacob correct in thinking that the median best represents how much money he makes in daily tips? No, Jacob is not correct. The mean amount he makes is $82. 67 in a day.
Yes, Jacob is correct. The mean amount he makes is $81. 67 in a day. No, Jacob is not correct. The median amount he makes is $86. 00 in a day. Yes, Jacob is correct. The median amount he makes is $84. 00 in a day. Option D is the correct option.Jacob is correct in thinking that the median best represents how much money he makes in daily tips. The median is the midpoint of the distribution.
In this case, the median of the data set would be ($78+$81)/2 = $84. Therefore, Jacob's daily median tip is $84.00.The mean of a set of data is the average value of the data set. The average of the data in this case is ($99+$78+$58+$91+$90+$68) / 6 = $82.67. Therefore, Jacob's average daily tip is $82.67.The mode of a set of data is the value that appears most often in the data set. In this data set, there is no value that appears more than once, so there is no mode of this data set.
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Osmosis is the movement of ____ across a membrane.
a) food
b) energy
c) oxygen
d) water
Answers
Answer:
D) Water
Explanation:
Osmosis is movement of water across a membrane. In a two chambered system, water will move to area with high solute concentration if there is a semi-permeable chamber allowing it to get to the other side.
Nina has just started a new job and has already been late several times. She
gets everything done within the day, but she just can't seem to be on time.
What should Nina address?
A. Honesty
B. Respect for diversity
C. Integrity
D. Punctuality
Answers
Answer:
D
Explanation:
A p e x
Which of the following would the social security tax pay for? a health insurance b pensions for the elderly and disabled that qualified c vacations d education
Answers
A company that produces pleasure boats has decided to expand one of its lines. Current facilities are insufficient to handle the increased workload, so the company is considering three alternatives, A (new location), B (subcontract), and C (expand existing facilities). Alternative A would involve substantial fixed costs but relatively low variable costs: fixed costs would be $265,000 per year, and variable costs would be $620 per boat. Subcontracting would involve a cost per boat of $2,600, and expansion would require an annual fixed cost of $58,000 and a variable cost of $1,060 per boat.
Required:
a. Find the range of output for each alternative that would yield the lowest total cost.
b. Which alternative would yield the lowest total cost for an expected annual volume of 150 boats?
c. What other factors might be considered in choosing between expansion and subcontracting?
Answers
To determine the alternative with the lowest total cost, each option's output range needs to be analyzed. Alternative A has fixed costs of $265,000 per year and variable costs of $620 per boat. Subcontracting (Alternative B) has a cost per boat of $2,600. Expansion (Alternative C) requires an annual fixed cost of $58,000 and a variable cost of $1,060 per boat. Other factors, such as production capacity, control over quality, and long-term flexibility, should also be considered in choosing between expansion and subcontracting.
To find the range of output for each alternative that yields the lowest total cost, we need to compare the costs of the different options at various production levels. For Alternative A, the total cost can be calculated as the sum of fixed costs ($265,000) plus variable costs per boat ($620) multiplied by the number of boats produced. For Alternative B, the total cost is the cost per boat ($2,600) multiplied by the number of boats. And for Alternative C, the total cost is the sum of fixed costs ($58,000) plus variable costs per boat ($1,060) multiplied by the number of boats.
By comparing the total costs for each alternative at different production levels, we can determine the range of output for each option that results in the lowest total cost. The alternative with the lowest total cost for an expected annual volume of 150 boats can be identified. In addition to total cost, other factors should be considered when choosing between expansion and subcontracting. These factors may include the production capacity of the existing facilities, the level of control over the manufacturing process and quality assurance, the availability of skilled labor, the long-term flexibility of the chosen alternative, and the potential impact on customer relationships. Careful consideration of these factors will help the company make an informed decision that aligns with its goals and ensures efficient and cost-effective operations.
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Which type of interest does not change over the life of a loan?
Principal interest
Fixed interest
Variable interest
Annual percentage rate
Answers
Answer:
Fixed interest
Explanation:
A fixed-rate mortgage charges a set rate of interest that does not change throughout the life of the loan. You'll know exactly how much each monthly payment will be, as well as how much it will cost you overall to pay off the loan based on that rate.
In a small open economy, if the world interest rate falls, then domestic investment will _____ and the real exchange rate will _____, holding all else constant
Answers
In a small open economy, if the world interest rate falls, then domestic investment will domestic investment will increase and the real exchange rate will appreciate.
When the world interest rate falls, it becomes relatively more attractive for domestic investors to borrow funds from abroad to finance investment projects. This leads to an increase in domestic investment as the cost of borrowing decreases. At the same time, the decrease in the world interest rate makes the domestic currency less attractive compared to foreign currencies, leading to an appreciation of the real exchange rate.
A lower world interest rate reduces the cost of borrowing funds internationally, making it easier and cheaper for domestic investors to finance their investment projects. As a result, there is a higher incentive for domestic firms to undertake new investment activities, which leads to an increase in domestic investment.
Simultaneously, the decrease in the world interest rate makes holding domestic currency less attractive for foreign investors. They will seek higher returns elsewhere, which in turn leads to a decrease in the demand for the domestic currency. Consequently, the value of the domestic currency depreciates relative to foreign currencies, causing an appreciation of the real exchange rate. This appreciation of the real exchange rate makes domestic goods relatively more expensive for foreign buyers, potentially impacting export competitiveness.
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