Auditors are normally concerned about the completeness assertion related to accounts payable because it is possible that the recorded accounts payable is not complete.
a. The completeness assertion is usually of more concern than the existence assertion for accounts payable because it is more difficult to detect unrecorded liabilities than it is to detect overstated liabilities. This is because unrecorded liabilities are not reflected in the accounting records, so they are not subject to the same level of scrutiny as recorded liabilities.
b. Here are four audit procedures that auditors use to provide evidence that the recorded accounts payable is complete:
Search for unrecorded liabilities: This procedure involves searching for liabilities that have not been recorded in the accounting records. This can be done by reviewing a variety of documents, such as purchase orders, invoices, and receiving reports.Confirmation of accounts payable: This procedure involves confirming the existence of accounts payable with the vendors. This can be done by sending confirmation letters to the vendors.Review of internal controls: This procedure involves reviewing the company's internal controls over accounts payable to assess the risk of material misstatement.Analytical procedures: This procedure involves using analytical procedures to identify unusual or unexpected relationships between accounts payable and other financial statement accounts.By performing these procedures, auditors can obtain evidence that the recorded accounts payable is complete.
Here are some additional details about each of these procedures:
Search for unrecorded liabilities: This procedure is often the most effective way to detect unrecorded liabilities. The auditor will typically review a variety of documents, such as purchase orders, invoices, and receiving reports, to identify any liabilities that have not been recorded in the accounting records.Confirmation of accounts payable: This procedure provides direct evidence of the existence of accounts payable. The auditor will typically send confirmation letters to the vendors to confirm the amount of the outstanding balance.Review of internal controls: This procedure helps the auditor to assess the risk of material misstatement in the accounts payable balance. If the company has strong internal controls over accounts payable, the risk of material misstatement is lower.Analytical procedures: This procedure can be used to identify unusual or unexpected relationships between accounts payable and other financial statement accounts. For example, if the accounts payable balance has increased significantly from the previous year, the auditor may want to investigate further to determine the reason for the increase.By performing these procedures, auditors can obtain evidence that the recorded accounts payable is complete.
To learn more about, Auditors , click here, brainly.com/question/28457117
#SPJ11
what kind of technology refers as local technology or indigenous technology ?
Answer:
Local technology refers to the technology which are used in our locality from the ancient time and are made of locally available materials for the welfare of local people.
Answer:
Local technology refers to the technology which are used in our locality from the ancient time and are made of locally available materials for the welfare of local people.
Explanation:
What is the correct strategy that Alejandra must use to deliver a negative message?
Alejandra is a customer relations manager at a toy company. A customer posted a complaint on the company’s social media page saying that one of its toys is unsafe for children. Alejandra should use a/an _______ strategy to respond to the situation.
Answer:
Apologize and come up with a new plan. Of course, you need to apologize, if you don't then that becomes a problem. (especially if they are a Karen.) After apologizing start to explain what you are going to do about it. For Example Refunds, Store Credit, Replacement, Etc. To start off. Then fix the problem. Also, tell them that you are going to do so and so to fix it. Like creating anew toy or whatnot. Hope this helps!
Alejandra should apologise for the toys and introduce a new plan as the proper approach to conveying a bad message.
Alejandra Pizarnik notes in her diary in 1968, four years after her stay in Paris, "What most disturbs me since returning to this foreign country: the distance, or the voluntary distance, between the word and the deed. In the loosest sense, something seems literary, but one can distance oneself.
"On meurt à moins" (What frightens me most since returning to this foreign country: the gap between word and deed, or the desire for one. One can pass away from distance, despite the fact that this looks to be literary in the worst sense. "On dies less").
Alejandra Diarios, Barcelona: Lumen, 2003, p. 439, Pizarnik. … A recurring issue in this author's writings is the attempt to reunite act and poetry, which, according to Pizarnik, were split apart "por no sé qué error" ("through some kind of error").
Learn more about Alejandra here
https://brainly.com/question/27943574
#SPJ6
Qualified Business Income (QBI) Deduction (LO 4.10)Rob operates a small plumbing supplies business as a sole proprietor. In 2018, the plumbing business has gross business income of $421,000 and business expenses of $267,000, including wages paid of $58,000. The business sold some land that had been held for investment generating a long-term capital gain of $15,000. The business has $300,000 of qualified business property in 2018. Rob's wife, Marie, has wage income of $250,000. They jointly sold stocks in 2018 and generated a long-term capital gain of $13,000. Rob and Marie have no dependents and in 2018, they take the standard deduction of $24,000.The income threshold for QBI limitations starts at $315,000 for married filing jointly taxpayers.a. What is Rob and Marie's taxable income before the QBI deduction?$b. What is Rob and Marie's QBI?$154,000What is Rob and Marie's QBI deduction?$** Please give explanation and not just the answer. Thank you! **
Answer:
a. What is Rob and Marie's taxable income before the QBI deduction?
Rob and Marie's taxable income = Marie's wages + long term capital gains - standard deduction = $250,000 + $13,000 - $24,000 = $239,000
b. What is Rob and Marie's QBI?
QBI = total business income - total business expenses = $421,000 - $267,000 = $154,000
What is Rob and Marie's QBI deduction?$
the maximum possible QBI deduction is 20% of the QBI, but it starts to phase out if the couple's other income is more than $315,000 (currently the phase out threshold is a little higher $326,600). Since their taxable income is lower than the threshold, they can deduct the maximum amount = $154,000 x 20% = $30,800
_______ occurs when some products are overcosted while other products are undercosted by the cost allocation system
Price distortion is a phenomenon that occurs when some products are overcosted while other products are undercosted by the cost allocation system.
This leads to a flawed pricing strategy that is inaccurate and inefficient, which may result in erroneous price levels or a flawed pricing structure. Certain items may become more expensive as a result of pricing distortion, while others can become underpriced.
Customers may buy the incorrect items as a result of this, which might reduce revenues. Due to the fact that some items are expensive while others are underpriced, pricing distortion can also result in an uneven distribution of profits and losses across enterprises. Price distortion can also cause an incorrect allocation of resources since resources will go towards items that are not fairly priced.
As a result, it is crucial for businesses to make sure their pricing models are precise and effective in order to reduce price distortions.
To learn more about pricing strategy visit:
https://brainly.com/question/15854794
#SPJ4
What effect do communication skills have on ability to pursue
Answer:
you. dummy joking I. don't know
a global social media platform’s employees were tricked into thinking a hacker was a coworker and gave him access to all accounts. the criminals used the theme of partnering with a made-up covid-19 non-profit to scam people out of $117,000 in about three hours.
The incident has caused some to wonder how much access staff members and, in turn, the hackers, have to user accounts.
When a hacker connives with a person is IT called?Hacker connives with a person is IT ,The most frequent sort of social engineering assault, phishing uses fake email addresses and links to persuade victims to divulge their login information, credit card information, or other sensitive information.password theft Passwords continue to be the most popular authentication technique for computer-based services despite its numerous acknowledged flaws, making it simple to circumvent security measures and access vital data and systems by gaining a target's password.The incident has caused some to wonder how much access staff members and, in turn, the hackers, have to user accounts.To learn more about hacker refer to:
https://brainly.com/question/23294592
#SPJ4
If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would be most helpful?
A.
Statement of owners' equity
B.
Cash flow statement
C.
Balance sheet
D.
Income statement
Answer:
The answer is D. Income statement
Explanation:
Answer:
D. income statement
Explanation:
i took the test
Click this link to view O*NET’s Work Activities section for Registered Nurses. Note that common activities are listed toward the top, and less common activities are listed toward the bottom. According to O*NET, what are some common work activities performed by Registered Nurses? Select four options.
communicating with supervisors, peers, or subordinates
making decisions and solving problems
repairing and maintaining mechanical equipment
drafting technical devices
assisting and caring for others
documenting/recording information
Some common work activities performed by Registered Nurses are:-
Making decisions and solving problems.Assisting and Nurses for others.Communicating with supervisors, peers, or subordinates.Drafting technical devices.Evaluating, Nurses watching, and conversing with patients keeping a record of the symptoms, medical history, and state of health of the patient. Patient Care preparation for examinations and treatment. administering medications and therapies, then keeping track of patients' reactions and negative effects.
Usually, Nurses EMTs and paramedics do the following tasks: Respond to 911 calls for emergency medical help, such as doing CPR or bandaging a care wound. Typically, bioengineers and biomedical engineers do the following tasks: Create tools and gadgets, such as synthetic internal organs, body part replacements.
To learn more about Nurses, click here.
https://brainly.com/question/16741035
#SPJ1
the key to successfully competing is understanding what customers want and then satisfy those wants. multiple choice designing products and services that finding suppliers who can hiring enough workers to finding the best way to training production workers to
The key to successfully competing is understanding what customers want and then finding the best way to satisfy those wants.
Time-based strategies are used to reduce lead times. H. The amount of time from when your order is received until the product is shipped. Companies that can produce faster often have lower costs. These companies can use lean manufacturing to speed up their processes. Operations management monitors an organization's entire operating system.
Operations management is essential for businesses to seamlessly manage their day-to-day activities. Operations management controls all processes and addresses issues such as system design operation Successfully competing maintenance and improvement. Operational strategies provide opportunities to improve products services and processes. To develop a strategy consider business Corporate strategy and market needs analysis.
Learn more about Successfully competing here:-https://brainly.com/question/28480306
#SPJ4
You buy a pair of sunglasses from a manufacturer for $100. you would have been willing to pay $130 for them; it cost the manufacturer $70 to make them. what is the economic surplus created by this exchange?
The economic surplus created by the exchange is $40 if we buy a pair of sunglasses from a manufacturer for $100.
Sunglass price = $100
Amount willing to pay = $130
Cost of manufacturer = $70
Economic surplus is the combination of benefits, generally referred to as total welfare, that a consumer or producer obtains as a result of economic activity. It is also called total surplus and communal surplus.
Producer surplus = Total Revenue – Production Cost
Producer surplus = 100 - 70
Producer surplus = $30
consumer surplus = the price is willing to pay - the actual amount paid.
consumer surplus = 130 - 100
consumer surplus = 30
The economic surplus = Producer surplus + consumer surplus
The economic surplus = 30 +30
The economic surplus = $40
Therefore we can conclude that the economic surplus created by this exchange is $40.
To learn more about economic surplus
brainly.com/question/14829124
#SPJ4
What role do principles and values play in understanding who owns the intellectual property that emerges in the workplace?
Principles and values play a crucial role in understanding who owns the intellectual property that emerges in the workplace. These principles and values help to determine what is ethical and fair when it comes to ownership of intellectual property.
For instance, one principle could be the principle of meritocracy, which states that the person who creates the intellectual property should own it because they put in the effort and creativity to create it. It is important to understand the principles and values that are in place in the workplace in order to determine the ownership of intellectual property.
If the principle of meritocracy is in place, then the person who created the intellectual property would be considered the owner. However, if the value of teamwork and collaboration is in place, then the ownership would be shared among the team or the company as a whole.
To read more about principles and value, visit- https://brainly.com/question/30092296
#SPJ11
Sue says that customers are "expecting a whole lot more for their dollars so the level of customer service has to be that much better and the level of our offerings has to match their expectations". Sue decides to send an email survey to current customers to discover what additional services Camp Bow Wow might offer. Based on the results, Sue intends to implement new services. This is an example of: A. Applied research B. Basic research C. Fact finding D. Development and implementation
Answer:
A. Applied research
Explanation:
Applied research is defined as a study that is aimed at finding answers to specific practical problems. The information.gained from applied research is usually applied to business activity to improve a product, service, or process.
In the given scenario Sue sends an email survey to current customers to discover what additional services Camp Bow Wow might offer. Based on the results, Sue intends to implement new services.
She is using applied research to gain information that will improve customer service in the organisation
Hasty Manufacturing orders 86,000 annually. They order 6 times a year. They hold 6,468 units in safety stock. The minimum number of units Hasty Manufacturing holds throughout the year is:__________
Answer:
6,468 units
Explanation:
Based on the information given we were told that the Manufacturing company orders 86,000 per year which they order 6 times a year which means that if the manufacturing company HOLD 6,468 units in safety stock. The MINIMUM number of units the Manufacturing company will HOLDS throughout the year is:6,468 units which was HOLD in Safety stock.
I need help bruh. Prereading activities include A. concept mapping B. discussion C. Questioning D. all of these
Answer:
D
All of these
Explanation:
Question 10 of 20
Which is an example of a professional interview?
A. Janelle has an interview with the director of a foundation that
offers college scholarships.
B. Marci interviews a city council member about placing new stop
signs in her neighborhood.
C. Pavi interviews the school athletics director about an uptick in
sports injuries.
D. Tasha interviews her grandfather about growing up in a different
country.
Answer: B. Marci interviews a city council member about placing new stop signs in her neighborhood.
Explanation:
TRUE OR FALSE: when you have a credit card or loan, it is better to have higher interest rate
Answer: Lower interest rate are better. Higher interest rate is worse
Explanation:
A lower interest rate is better when borrowing money through credit cards or loans. You will be paying less. High interest rates are only good when you are the lender.
The art of sales is never more obvious than in a late-night infomercial. Tell about one infomercial that you have seen and what tactics the salesperson used to get the audience to buy their product. See if you can find a link to it online and post the link with your comment as well. Did watching the salesperson make you want to buy? Do you think you would be able to do the same marketing job as the salesperson?
(HELP FAST DUE IN 15 MINUTES)
The informercial that have been used in the solution would be the :As seen on TV " informercial
What is the message in the informercial?One of the most popular infomercial products is the "As Seen on TV" range of products. These infomercials use a variety of tactics to sell their products, including:
Highlighting the problem: The infomercial starts by showing the problem that the product solves, such as a cluttered kitchen or aching back.
Demonstrating the product: The product is then demonstrated, showing how easy it is to use and how it solves the problem.
Emphasizing the benefits: The salesperson then emphasizes the benefits of the product, such as saving time and money, and improving your life.
Using testimonials: Real people are shown using the product and providing testimonials, which adds credibility to the product and the infomercial.
Creating a sense of urgency: The infomercial often includes a limited-time offer or a special discount, which creates a sense of urgency for the viewer to buy now.
These are just a few of the tactics used in infomercials, and their effectiveness varies depending on the product and the target audience. Ultimately, the success of an infomercial comes down to how well the product solves a real problem and how effectively the salesperson communicates that to the viewer.
Read more on informercials here:https://brainly.com/question/12603070
#SPJ1
3. Describe the purpose of the SEC. (1-4 sentences 2.0 points)
Answer:
The Securities and Exchange Commission (SEC) is a federal body tasked with safeguarding investors from fraud and ensuring the market's fairness and efficiency in the United States. One of its key objectives is to require all types of investments to be disclosed to both small and large firms.
The Securities and Exchange Commission (SEC) was established in 1934 to enforce the 1933 Securities Act. It was created, in large part, to fill the void left by the absence of a government regulatory body to regulate the U.S. stock markets during a period of significant financial volatility. It was shortly broadened to include the 1940 Investment Advisers Acts as well. Today, the agency is responsible for enforcing and amending federal securities laws, as well as coordinating U.S. securities regulations with other countries.
Explanation:
The visual enhancement of any drawing through color, value, and texture
Answer:
That would be the composition of a work.
Source:
"The arrangement of elements within a work of art."
https://www.tate.org.uk/art/art-terms/c/composition
The actual direct labor wage rate is 8.50 and 4,500 direct labor-hours were actually worked during the month. The standard direct labor wage rate is 8.00 and the standard quantity of hours allowed for the actual level of output was 5,000 direct labor-hours. What is the direct labor efficiency variance? a. 4,000 favorable b. 4,000 unfavorable c. 4,500 unfavorable d. 4,500 favorable
labor efficiency variance $4000 favorable
The formula for the labor efficiency variance is:
=(Actual hours - Standard hours) x Standard rate
=(4500 - 5000) x 8 = $4000 favourable
Variable overhead efficiency variance =
=Standard overhead rate x (Actual hours - Standard hours)
=Standard overhead rate x (4500 - 5000)
The employees might not have obtained written work instructions. blend. the usual assumes a sure mix of employees concerning exclusive talent levels, which does not suit the actual staffing. training.
The labor efficiency variance focuses on the number of exertion hours utilized in manufacturing. it is defined because of the difference between the real range of direct labor hours worked and budgeted direct labor hours that ought to have been labored based totally on the requirements.
Learn more about labor efficiency variance here https://brainly.com/question/27404735
#SPJ4
A _____ is a written document with detailed specifications that is used to request bids for equipment, supplies, or services from vendors.
The answer is a request for proposal
If this helps mark me the brainiest please and thank you
There are a few different workplaces in this career cluster. Select the workplaces that sound interesting or enjoyable.
Check all that apply.
a desk out in the open in an office building
a partially walled-off area with a desk in an office building
a private office with a door inside an office building
a room in your home
A career cluster is a collection of jobs with similar characteristics. If you enjoy one job in a cluster, you will most likely enjoy other jobs in that cluster as well.
According to me Option B and D would be the best fit for the workplace that is enjoyable or interesting. Because in Option B you can talk to your co-workers which is enjoyable and interesting and Option D is also correct Option as we can work comfortably their.
Other options that are incorrect as:
Option A is incorrect as a desk out in open is not allowed and not a logical option.
Option C is incorrect as a private office would be boring as the person will be alone doing the work.
Thus Option B and D is the best suitable example.
For more information about career clusters refer to the link:
https://brainly.com/question/1315723
Answer
pick one that interest u
Explanation:
pick what u want
Three claimants are requesting relief from the real estate recovery fund. all three claimants were named in a single judgment (the same real estate transaction). what is the maximum payment from the recovery fund for this claim
The maximum payment from the recovery fund for this claim is $50,000.
What is a claim?A claim is a written request for compensation submitted to an insurance company in accordance with the terms provided in the insurance policy. The insurance provider assesses its credibility before paying following approval. Alternatively, depending on the facts of the claim, the insurance company may deny the claim or offer a lower payment. A policy of insurance offers defense against particular risks. The insurance company is notified when the insured event occurs by the policyholder or a third party, who may also be required to supply any relevant supporting documentation. A variety of benefits are covered by insurance claims, including death benefits in life insurance, medical expenses in health insurance, restoration costs, replacement costs, or cash value for damaged property in property insurance, and cash value for damaged property in health insurance.
Maximum payment= 50* 1000= $50,000
To learn more about claim, visit:
https://brainly.com/question/24663902
#SPJ4
If you see a mistake on your credit report, who should you contact? how should you contact them?.
If you see a mistake on your credit report, you should get in touch with the credit reporting company and explain the issue to them.
Your credit report affects your purchasing power, chances of landing a job, renting or purchasing a home and ability to purchase insurance. Credit reporting agencies sell your report's contents to companies that use it to decide whether to lend you money or not. Credit reports are sometimes also consulted by hiring managers. This is why it's important to ensure that the data in your report is accurate and comprehensive.
Any inaccurate or incomplete information in your report must be corrected by the credit agency as well as the company that provided the information to the bureau. These agencies work for no payment. Contact the credit bureau and the company that provided the false information to get errors in your record fixed. Inform them that you want to contest the facts in your report. Your issues will be resolved.
To read about credit report refer:
https://brainly.com/question/1618296
#SPJ4
Most new jobs in the United States will be in the a manufacturing industries:
b. goods-producing industries
C. service-producing industries
d. agriculture-producing industries
Please select the best answer from the choices provided
Α
B
С
D
Answer:
d agriculture-producing industries
Most new jobs in the United States will be in manufacturing industries service producing industries. The correct option is c.
In the United States, manufacturing is an important economic sector. The United States is the world's third-biggest manufacturer (after the People's Republic of Chine and the European Union), with a record high real output of $2.00 trillion (adjusted for inflation in 2009 dollars) in Q1 2018, significantly above the $1.95 trillion peak before the Great Recession in 2007.The manufacturing industry in the United States employed 12.35 million people on December 2016 versus 12.56 million in December 2017, a 1.7% rise.
Manufacturing, while still a significant portion of the US economy, contributed less to GDP in Q1 2018 than the 'Finance, insurance, real estate, rental, other leasing' sector, the 'Government' sector, or the 'Professional and business services' sector.
Learn more about manufacturing, here:
https://brainly.com/question/3197746
#SPJ7
Using single-period arithmetic returns, and starting with $100, calculate:
(a) a 30% gain followed by a 20% loss ("average" 5% per period gain)
(b) a 5% gain followed by a 5% gain ("average" 5% per period gain)
What is the difference (a minus b)?
A 30% gain followed by a 20% loss: We can use the formula to find the ending balance: A=P(1+r), where A is the ending balance, P is the starting balance, and r is the rate expressed as a decimal.
Using single-period arithmetic returns, the “average” 5% per period gain can be converted to a decimal as 0.05, so the arithmetic returns for the 30% gain is 0.3 and the arithmetic return for the 20% loss is -0.2. Hence, the ending balance after the 30% gain followed by a 20% loss can be calculated as follows.
\(A = 100(1+0.3)(1-0.2) = 100(1.3)(0.8) = 104(b) A 5%\) gain followed by a 5% gain: Similarly, we can use the formula to find the ending balance: A=P(1+r).Using single-period arithmetic returns, the “average” 5% per period gain can be converted to a decimal as 0.05, so the arithmetic returns for the two 5% gains is 0.05 each.
To know more about decimal visit:
https://brainly.com/question/30958821
#SPJ11
With the help of online research, write a short report on “glocalization.”
The phenomena of Glocalization, which is best described as Thinking Globally, Acting Locally, is created when the two terms of globalisation and localization are combined.
To put it more properly, we may say that although if a single brand is produced, sold, and distributed globally, it is nevertheless personalised and customised to suit the tastes and preferences of customers in the many global marketplaces.
It is carried out since each region of the world has its own unique culture, linguistic preferences, demands, and desires.
By adjusting their offerings and products to meet the needs of that specific market, businesses may effectively position and place their items, resulting in high revenues and devoted customers.
The following are all global brands, although they cater to the demands of their customers in various parts of the world while selling items.
Chips by Lays (They sell different flavours in different parts of the world, according to the taste preference and eating habits of that country).
To know more about Glocalization visit:
https://brainly.com/question/14357896
#SPJ9
A business analyzes what competitors are charging for products.
When a business analyzes what the competitors are charging for their products, it is known as the process of marketing info management.
What is the significance of business competitors?A business competitor can be referred to or considered as an organization that deals in the same product that is offered for sale by other enterprises in the same market.
It is important for a business to keep an eye on the acts of its competitors, as it helps them in keeping themselves updated with marketing info management.
Therefore, the significance regarding the business competitors has been aforementioned.
Learn more about business competitors here:
https://brainly.com/question/13948372
#SPJ1
Most companies lose money in their first years of business.
True
False
Answer:
TRUE
Explanation:
assuming that wheat and corn can both be grown on the same type of land, a decrease in the price of corn, other things being equal, will cause a(n):
Assuming that wheat and corn can both be grown on the same type of land, a decrease in the price of corn, other things being equal, will cause a rightward shift in the supply curve for wheat.
The option (A) is correct.
Assuming that wheat and corn can be developed on a similar kind of land, a reduction in the cost of corn would boost ranchers to change their creation from corn to wheat.
This change underway from corn to wheat would build the amount provided of wheat on the lookout, prompting a rightward shift in the stockpile bend for wheat. A rightward shift demonstrates that, at each cost level, a more prominent amount of wheat is provided contrasted with before the decline in corn costs.
Learn more about price:
https://brainly.com/question/24015725
#SPJ4
This question is not complete, Here I am attaching the complete question:
Assuming that wheat and corn can both be grown on the same type of land, a decrease in the price of corn, other things being equal, will cause a(n):
(A) a rightward shift in the supply curve for wheat.
(B) increase, which is a shift to the right of the demand curve.
(C) Wheat supply will decrease