See the "Madison Wells, Audit Manager" case for this question.
What steps should auditors take when they discover circumstances which were unknown to them at the audit report date that might have affected the report they issued?
Answers
The steps auditors should take when they discover circumstances which were unknown to them at the audit report date that might have affected the report they issued are re-evaluate the audit evidence, communicate with management, if needed revise financial statements and issue a new report, and document the new information.
When auditors discover circumstances which were unknown to them at the audit report date that might have affected the report they issued, they should take the following steps.
Steps:1. Re-evaluate the audit evidence obtained and consider the impact of the new information on the financial statements and audit report.
2. Communicate with management and those charged with governance about the new information and its potential impact.
3. Determine if the financial statements need to be revised and if a new audit report needs to be issued.
4. If necessary, revise the financial statements and issue a new audit report.
5. Document the new information and the steps taken to address it in the audit workpapers.
It is important for auditors to take these steps in order to ensure that the financial statements and audit report accurately reflect the company's financial position and results of operations.
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Related Questions
What is the SNAP food program governed by the farm bill
stamps
magnet
O paperwork
card
Answers
Answer:
The Supplemental Nutrition Assistance Program (SNAP) helps families, older adults, and individuals pay for groceries. ... SNAP benefits provide food security, stimulate local economies, and support farmers and the agriculture industry through the purchases of Pennsylvania-grown and processed foods.
Explanation:
The person who overseas the direct work of employees and is responsible for a day to day tasks the employees complete is likely an...?
Answers
Answer:
operational manager.
why did the industrial revolution lead to a growth in marketing research?
Answers
The Industrial Revolution led to the growth of marketing research due to several reasons. One of the reasons is the need for increased production, which required companies to find new ways to sell their products.
Additionally, the rise of mass production made it possible for companies to produce goods on a large scale, which meant that they needed to find ways to market their products to a wider audience.
Marketing research became crucial during the Industrial Revolution because it helped companies identify the needs and preferences of their customers. By conducting surveys, companies were able to find out what their customers wanted and needed, which enabled them to tailor their products and marketing campaigns to meet those needs. This helped companies increase their sales and profits, which, in turn, fueled further growth in the industry.
Moreover, the rise of transportation and communication technologies also contributed to the growth of marketing research. Improved transportation made it easier for companies to distribute their products across the country, while the telegraph and telephone made it possible for companies to communicate with customers and suppliers over long distances.
This enabled companies to conduct surveys and gather data from a wider audience, which helped them stay ahead of their competitors.
In conclusion, the Industrial Revolution led to the growth of marketing research due to the need for increased production, the rise of mass production, the need to identify the needs and preferences of customers, and the improvement in transportation and communication technologies.
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(This class is called life management)
A basic decision that you make every day about every day things are known as:
A) Major Decisions
B) Routine Decisions
C) Classic Decisions
D) Life altering decisions
Answers
Answer:
B is answers for the question
Explanation:
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Justin has hired someone to handle all of the financial issues for his small business. He hired a:
Answers
Accountant is the right answer hope this help
Answer:
accountant
Explanation:
I just took the quiz:)
17A - Although the women of America are one step nearer to nylon stockings as a result of new ceiling price schedules . . . , the prospect of "nylons for Christmas," except for a favored few, is not good, hosiery manufacturers said yesterday.
—"Outlook Is Gloomy for Christmas Nylons," New York Times, November 10, 1945
This excerpt suggests that U.S. consumers were affected by —
Answers
Even if the jobs that women did during the war were eliminated after demobilization, women acquired skills between 1914 and 1918.
What modifications to women's social roles resulted from World War 2?American women were given unprecedented chances during World War II to work in fields that had never been available to them, particularly in the defense sector. It was difficult for women to find good childcare while working and to combat societal stereotypes of working women.
How did women's roles in society change following World War One?Most significantly, following the war, many countries finally granted women the right to vote. However, there were very few states that allowed their female residents to vote, and this did not happen until much later (1944 in France).
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Sung owns a plumbing supply store. One of his clients, Village Plumbers, has a charge account with his store. This month Village Plumbers charged 200 feet of pipe at $0.40 per foot, 150 elbow joints at $0.75 per elbow joint, and 36 outdoor faucets at $2.49 per faucet. Sung must charge 5.5% sales tax on all items sold? What is the balance on Village Plumbers’ charge account?
Answers
Answer:
$297.66
Explanation:
The total costs of the items would be
200 feet pipe : 200 x $0.40 = $80.00
150 elbow joints: 150 x $0.75 = $112.50
36 outdoor faucets: 36 x $2.49 =$ 89.64
Total cost =$282.14
add 5.5% tax
=5.5/100 x $282.14 =$15.52
Total $297.66
The balance on Village Plumbers’ charge account =$297.66
If aggregate output is above potential output, then an appropriate fiscal policy would be to _____, which will shift the _____ curve to the _____. decrease government purchases; AD; right decrease tax rates; AD; right decrease transfer payments; AS; right decrease government purchases; AD; left
Answers
Fiscal policy often affect the level of overall spending in the economy by changes in taxes and spending. Appropriate fiscal policy would be to decrease government purchases, which will shift the AD curve to the Left.
The aggregate demand curve is known to shifts to the right only as the parts of aggregate demand such as consumption spending, investment spending, government spending, etc. rises.
Fiscal policy is known to affect aggregate demand. It can lead to changes in government spending and taxation. It also have huge effect on business expansion, net exports, employment, the cost of debt, etc.
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_ positioning is essentially the same as not using any Cascading Style Sheets (CSS) positioning at all.
Answers
Static positioning is essentially the same as not using any Cascading Style Sheets (CSS) positioning at all.
Static positioning in CSS is the default positioning behavior of HTML elements. When an element is set to static positioning, it is positioned according to the normal flow of the document. In other words, elements are displayed one after another in the order they appear in the HTML markup.
With static positioning, elements are not affected by any CSS positioning properties such as top, left, right, or bottom. They do not respond to changes in their surrounding elements or interact with other positioned elements. Essentially, static positioning is the absence of any explicit positioning.
When an element is set to static positioning, it is not affected by the positioning of other elements or any CSS transformations. It will appear in its default position as defined by the document flow. Any attempts to apply positioning properties to a statically positioned element will have no effect.
Static positioning is useful when you want an element to be part of the normal document flow and not be influenced by CSS positioning rules. It is the default behavior for most HTML elements unless otherwise specified.
However, it is important to note that even though static positioning is the default, using CSS positioning is often necessary to achieve more complex layout and design requirements. By utilizing positioning properties such as relative, absolute, fixed, or sticky, elements can be positioned and manipulated in more precise ways.
In summary, static positioning in CSS is the default behavior that places elements in the normal flow of the document without any explicit positioning. It essentially means not using any CSS positioning at all and allows elements to be displayed in their default positions as determined by the document structure.
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the length and Length breadth and height of a room in a house are 8m 6m and 4m respectively the house on a decides to paint the four walls of the room at the cost of ,0.04 square of wall how much will the owner spend in painting the walls
Answers
Answer:
\(Cost\ of\ 112m^2 = 4.48\)
Explanation:
Given
Dimension
\(Length= 8m\)
\(Breadth = 6m\)
\(Height = 4m\)
Cost per \(m^2\) = 0.04
Required
Determine the total cost to paint 4 walls
First, we need to calculate the area of the 4 walls.
\(Area = 2*(Length * Height) + 2 *(Breadth * Height)\)
Substitute values for Length, Breadth and Height
\(Area = 2*(8m* 4m) + 2 *(6m* 4m)\)
\(Area = 2*(32m^2) + 2 *(24m^2)\)
\(Area = 64m^2 + 48m^2\)
\(Area = 112m^2\)
Cost per \(m^2\) = 0.04.
\(Cost\ of\ 112m^2 = 112 * 0.04\)
\(Cost\ of\ 112m^2 = 4.48\)
when a seller grants credit for returned goods, the account that is credited is group of answer choices inventory. accounts receivable. sales returns and allowances. sales revenue.
Answers
When a seller gives credit for goods that have been returned, the account is credited. The amount of net sales or sales should be recorded at their net amounts.
After subtracting sales discounts, sales returns, and allowances from gross sales, net sales are calculated.
The difference between a business's gross sales and its returns, allowances, and discounts is its net sales.
How is net sales calculated?Determine your net sales by subtracting all deductions from your gross sales. You can subtract all other deductions, like discounts, returns, and allowances, from the total number of sales.
How are net purchases and sales calculated?The cost of goods purchased equals net purchases minus the freight-in account's debit balance to determine net purchases. The credit balances in the purchases returns and allowances and purchases discounts accounts are subtracted from the debit balance in the purchases account.
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pls help what is a really cheap but good way to warrior cat books ( and some good ones) and whats some good ways to make money
Answers
There are several ways to purchase Warrior Cat books at an affordable price:
Some really cheap but good way to warrior cat booksVisit your local library: Libraries offer books for free or at a very low cost. You can borrow the books you want to read and return them when you're done.
Check secondhand stores: Many secondhand stores, such as Goodwill or Salvation Army, offer books at very low prices. You can often find used copies of popular books, including Warrior Cat books.
Look for online deals: Websites such as often offer used books at discounted prices. You can also search for websites that specialize in selling used books, such as Thrift books or Better World Books.
As for ways to make money, here are some suggestions:
Online surveys: There are many websites that pay you to take online surveys. While the pay is not very high, it can be a good way to earn some extra cash in your free time.
Sell items online: You can sell items that you no longer need or use on websites
Freelance work: If you have a skill such as writing, graphic design, or programming, you can offer your services on freelance websites
Participate in the gig economy: You can sign up for websites such as Uber or Lyft to offer ride-sharing services, or TaskRabbit to offer odd jobs such as cleaning or running errands.
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Which savings account will earn you the most money? One that compounds interest daily. One that compounds interest monthly. One that earns simple interest daily. One that earns simple interest monthly.
Answers
Hi There!!
I think the best answer is:
C). One that earns simple interest daily.
Because, Simple interest isn't as big as compound interest, and having it monthly means less spending.
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You bought 10 shares of stock in StreamingVideoCo for $45 per share. Two months later you sold the 10 shares of stock for $80 per share. What was your profit or loss on StreamingVideoCostock?
Answers
Answer:
Profit on the sale of shares = 350
Explanation:
Below is the calculation of profit or loss on the sale of shares:
Number of shares = 10 shares
The purchase price per share = $45 per share
The selling price of share = $80 per share
Use the below formula to find the profit on the sale of share:
Profit on the sale of shares = Revenue from sale - Cost of shares
Profit on the sale of shares = (10 x 80) - (10 x 45)
Profit on the sale of shares = 800 - 450
Profit on the sale of shares = 350
The profit or loss on the streaming video co stock is $350.
The calculation is as follows:Profit on the sale of shares = Revenue from sale - Cost of shares
= (10 × 80) - (10 × 45)
= $800 - $450
= $350
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credit is when the lender doesn’t require you to put down a security deposit or collateral. (True/False)
Answers
Collateral refers to an asset that a lender will accept in exchange for a loan. Lender has the right to seize the security if borrower defaults on payments.
Who is the 'lender'?
An individual, group (public or private), or financial institution that offers credit to a person or company with the intention of repayment is known as a lender. Any fees or interest must also be included in the repayment. One type of creditor in the group is a lender. Banks, credit unions, and peer-to-peer (P2P) lending are typical examples.
A bank is an example of a direct lender; after you apply for a mortgage, the bank gives you the cash right away so you can purchase a house.
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consider the following information about a business diane opened last year: price = $10, quantity sold = 25,000; implicit cost = $55,000; explicit cost = $160,000. what was diane's accounting profit?
Answers
Diane's accounting profit is $90,000.
To calculate Diane's accounting profit, we need to consider the price per unit, quantity sold, explicit costs, and implicit costs. Let's break down the calculations step by step.
Given information:
Price per unit: $10
Quantity sold: 25,000
Implicit cost: $55,000
Explicit cost: $160,000
First, we calculate the total revenue by multiplying the price per unit by the quantity sold:
Total revenue = Price per unit × Quantity sold
= $10 × 25,000
= $250,000
Next, we calculate the accounting profit by subtracting the explicit costs from the total revenue:
Accounting profit = Total revenue - Explicit costs
= $250,000 - $160,000
= $90,000
Therefore, Diane's accounting profit is $90,000.
It's important to note that accounting profit provides a measure of the business's financial performance based on explicit costs, but it does not consider other factors like opportunity costs or economic profit, which incorporates both explicit and implicit costs.
Accounting profit serves as a useful metric for assessing the profitability of a business from a financial accounting perspective.
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__________ provide alternative landing locations to congested dual-purpose airports and reduce operating costs.
Answers
Answer:
the control tower provides it
to be successful, strategic planning requires a company to have a ______ orientation.
Answers
To be successful, strategic planning requires a company to have a long-term orientation.
What is strategic planning?Strategic planning can be defined as the way of making use of techniques that will enables a company to achieve their future goals and objective.
On the hand long-term orientation can be defined as the future goals they a company or an organization has the plan to achieve.
Therefore the statement that filled the gap is long term.
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When sport/event organizations seek sponsors who will exploit the sponsorship, what benefit are they seeking to gain?
Answers
Answer: they want to generate more income from doing so, the greater the allowance the more income they will generate for the event they intend holding.
Explanation:
Exploiting of sponsorship would be described as allowing a sponsor to utilize every opportunity in the event to promote their brand.
When event organizers look out for sponsors who would handle their event and allow them explore it, it'll mean they want to generate more income from doing so, the greater the allowance the more income they will generate for the event they intend holding. For them to allow a particular brand to exploit the event would mean that brand would virtually take care of all expenses for the event since it'll be the face the audience would see when they come to the event. It is a way of generating more income for events.
A(n) ______ is defined as trying to earn a profit by providing goods and services that satisfy people's needs and wants.
Answers
Every individual or business wants to make profit this is done by providing goods and services that satisfy people's needs and wants.
What is a business?
A business is an organization that aims at making a profit by providing goods and services that are desired by individuals also known as customers.
Business meets a need and gets profit in return.
Therefore, A Business is defined as trying to earn a profit by providing goods and services that satisfy people's needs and wants.
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expert communicators are not perceived as trustworthy when . a. their statements are subjective to external causes b. they directly advocate a product c. they use an advanced communication channel d. their attitude toward the product is negative
Answers
Expert communicators are not perceived as trustworthy when "their statements are subjective to external causes".
The Expert communicators are those communicators know their communication is only as good as the impact on intended audience. There are four types of communicators are aggressive, passive-aggresive, passive and the assertive.
The Expert communicators are ensured empathy, equity, relevance and the impact. The communicators are four common types are analytical communicators, intuitive communicators, functional communicators, and the personal communicators.
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Any object that you can used to pay for goods or services can be classified as money.
True
False
Answers
Answer:
True
Explanation:
During 2013, Winston Corporation spent $170,000 in research and development costs. As a result, a new product called the New Age Piano was patented. The patent was obtained on October 1, 2013, and had a legal life of 20 years and a useful life of 10 years. Legal costs of $18,000 related to the patent were incurred as of October 1, 2013. Collapse question part (a) Prepare all journal entries required in 2013 and 2014 as a result of the transactions above. (Round answers to 0 decimal places, e.g. 8,564. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 2013 (To record research and development expenses) 2013 (To record legal expenses) 2013 (To record amortization expense) 2014
Answers
Answer and Explanation:
The Journal entry is shown below:-
1. Research and development expense Dr, $170,000
To Cash $170,000
(Being research and development expense is recorded)
2. Patents Dr, $18,000
To Cash $18,000
(Being capitalize the legal costs is recorded)
3. Patent amortization expense Dr, $450 (18,000 ÷ 10 years × 3 ÷ 12)
To Patents $450
(Being patent amortization expense is recorded)
What is the heat source for the stratosphere? How is that heat absorbed?
Answers
The heat source for the stratosphere is primarily ultraviolet (UV) radiation from the sun.
How is that heat absorbed by the stratosphere?The second layer of the Earth's atmosphere, the stratosphere, is situated below the mesosphere and above the troposphere. The stratosphere is a layer of the atmosphere made up of stratified temperature layers, with warm layers of air high in the sky and cool layers of air low in the sky, not far from the Earth's surface.
The Sun's ultraviolet (UV) energy is absorbed by the ozone layer, which causes the temperature to rise with altitude. The troposphere, which is close to the surface of the Earth, has a temperature inversion where the temperature drops with altitude.
Hence, this radiation is absorbed by ozone molecules in the stratosphere, which then release heat energy. This process warms the stratosphere, creating a temperature increase with altitude, which is opposite to the temperature decrease with altitude in the troposphere.
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Russia's war against Ukraine is causing a humanitarian, social and economic crisis for the Ukrainian people. The consequences of this full-scale military ...
Answers
The consequences of this full-scale military invasion are disrupting the global supply of commodities, righty increasing food and energy prices, and others.
What is the military invasion?The conflict between Russia and Ukraine is resulting in an overwhelming humanitarian, social, and economic catastrophe for the citizens of Ukraine.
The global supply of resources is being disrupted, and food and energy prices have risen sharply due to the complete military invasion. This invasion also poses a threat to the recovery from the COVID-19 pandemic. The evident impact of the war was a major contributor to the deceleration of economic expansion in 2022.
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economists view pollution as an economic problem that arises because a. firms that pollute do not pay the full social cost of producing their output. b. the level of pollution declines as the economy grows. c. private enterprises always minimize the amount of pollution produced. d. profitable firms rarely pollute.
Answers
Economists view pollution as an economic problem that arises because:
A. firms that pollute do not pay the full social cost of producing their output.What is pollution?It is the process by which toxic substances are introduced into the environment which cause damage to health and nature.
Within companies, it is the sum of the resources used to produce a good or social cost. When these are not paid for, natural resources are used, which is when environmental pollution occurs; in addition, the large production of inputs allows companies to consume more goods and services, such as the exploitation of natural resources.
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State 5 differences betweeen a stencil suplicator and a spirit duplicator
Answers
Answer:
spirit duplication is a method of reproducing documents where a spirit duplicator is used. The master copy is prepared from which copies are produced.
I hope is helpful
please i want to be a branalist
Explanation:
Which situation most directly illustrates a possible outcome of a fiscal
policy?
A. New environmental regulations make drinking water in a city safer.
B. The government decides it is time to print a great deal of new
money
O C. Struggling farmers receive less assistance from the government.
O D. A company decides to expand its operations into several new
states
Answers
Answer:
C
Explanation:
The correct answer would be option C that says that the struggling farmers receive less assistance from the government as fiscal policies are associated with determining the expenses and taxation policies to the various sectors to regulate the direction of the economy.
There are two types of Fiscal Policy that are Expansionary and Contractionary.
Expansionary fiscal policy:
deals with an increase in spending and/ or relaxing in taxation by the government so that consumers in the economy get more money.Contractionary policy:
deals with reducing spending and/ or increasing taxation.In this case, farmers did not get assistance from the government due to reducing the amount of Federal money available for farming and farmers is an illustration of Contractionary fiscal policy.
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Help please!
Who ever answers needs to be correct this is a big question.
Branson is the head of marketing for a video game company. His job falls into the Marketing Management pathway of the Marketing, Sales, and Service career cluster.
A.
True
B.
False
Answers
Answer:
True
Explanation:
Answer: A True
Explanation:
On the balance sheet for a merchandiser, merchandise inventory is listed as a(n)?
Answers
Merchandise inventory on the balance sheet for a merchandiser is listed as a current asset.
On the balance sheet of a merchandiser, merchandise inventory is categorized as a current asset. A current asset is an asset that is expected to be converted into cash or used up within one year or the operating cycle of the business, whichever is longer. Merchandise inventory refers to the goods or products that a merchandiser holds for sale to customers. It includes finished goods that are ready for sale as well as goods that are in the process of being manufactured or acquired for resale. The value of merchandise inventory is recorded at cost or lower of cost or market value, whichever is lower. This means that if the market value of the inventory drops below its cost, the inventory is written down to the lower market value. The value of merchandise inventory is important for assessing the profitability and financial health of a merchandising business. It is typically reported on the balance sheet under the current assets section, and its value is crucial for determining the cost of goods sold and calculating the gross profit of the business.
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