When comparing a nonissuer financial statement audit with an integrated audit, which of the following statements would be correct? A. Both audits have a similar purpose. O B. Both audits have a similar scope. C. Both audits follow similar procedures, D. Both audits result in a single opinion
Answers
Option A is correct. When comparing a non issuer financial statement audit with an integrated audit, both audits have similar purpose.
A non issuer financial statement audit and an integrated audit both aim to provide assurance on the accuracy and reliability of financial information. However, the scope and procedures of the two audits are different.
A non issuer financial statement audit is limited to an examination of a company's financial statements, such as its balance sheet, income statement, and cash flow statement, to provide an opinion on the fairness and reliability of the financial information presented.
An integrated audit, on the other hand, is a comprehensive examination of both the financial statements and the internal control systems of a company. It aims to provide a more comprehensive assessment of the company's operations and its financial reporting process. An integrated audit results in two separate opinions: one on the financial statements and another on the internal control systems.
So, while both audits have a similar purpose of providing assurance on the accuracy and reliability of financial information, the scope and procedures of the two audits, as well as the resulting opinions, are different.
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Related Questions
As a result of the Tax Cuts and Jobs Act, under Federal tax law the tax preparation fees deduction are suspended in tax year 2019. Therefore, under California tax law, a California taxpayer who itemizes his or her deductions and has an adjusted gross income (AGI) of $35,000, and no miscellaneous expenses other than tax preparation fees of $1,000, would be able to take a deduction of what amount on his or her California income tax return for tax year 2019
Answers
Answer:
$300
Explanation:
California tax law continue to allow miscellaneous itemized deductions subject to 2% of Federal AGI
Tax preparation fees $1,000
Less: AGI limit of 2% $700 (35,000*2%)
Deduction on his/her California $300
income tax return
Commitment either you do or you don’t there’s no in between
What does this quote mean to you? (3-5 sentences )
Answers
Piels Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the production of 10,000 units of this part are as follows:
Direct materials $ 90,000
Direct labor 130,000
Variable factory overhead 60,000
Fixed factory overhead 140,000
Total costs $420,000
Of the fixed factory overhead costs, $60,000 is avoidable. Conners Company has offered to sell 10,000 units of the same part to Piels Corporation for $36 per unit.
Required:
1. Assuming there is no other use for the facilities, Piels should ___________.
Answers
Answer:
It is cheaper to produce
Explanation:
Cost of producing
Direct materials - 90000
Direct labor - 130000
Variable factory overhead - 60000
Fixed factory overhead - 60000
Total cost - 340000
Cost of buying `10000*36 = 360000
Incremental cost of buying = 360000-340000 = $20,000
It is cheaper to produce at 340000/10000 = $34 /unit
In making a decision whether to buy or manufacture , variable cost and the avoidable costs are considered relevant for this purpose
How is emotional intelligence related to motivation?
Answers
Answer:
Emotional intelligence means being self-motivated
Self-motivation relates to internal drive. Emotionally intelligent individuals understand the deeper meaning of their goals and the self-motivation skills required to achieve them.
Answer:
The results show that emotional intelligence is positively related to positive emotions and negatively related to negative emotions. Positive emotions positively predict both self-motivation towards physical education classes and resilience. Resilience positively predicts self-motivation.
What time of the year does tax day always occur in the US
Answers
Answer:
Around April 15th!
Explanation:
Every year except this year has been April 15th! But since CO VID- 19 hit the IRS pushed it back until May 17th! Hope this helps! Plz mark as brainliest!
Answer:
the date is usually on or around April 15
⦁ Give me an example of how you have demonstrated safe work practices.
Answers
An example of safe work practices is cleaning and maintaining equipment and tools.
Safe work procedures are instructions on how to execute work in a safe manner and are essential for all hazardous jobs performed at your business. They identify dangers and explain what has to be done to remove or reduce risks.
Cleaning and maintaining equipment and tools properly can help to avoid accidents and injuries, as well as costly repairs. One method is to keep a cleaning and maintenance routine. Make a record of all equipment in use, noting important areas that require inspection.
Therefore, maintenance of equipment is how we can demonstrate safe work practices.
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Equipment and tool maintenance and cleaning are two examples of safe work practices.
All hazardous operations carried out at your company must follow safe work procedures, which are guidelines for how to carry out work in a safe manner. They point out risks and describe what has to be done to eliminate or lessen them.
Proper equipment and tool maintenance can reduce the risk of accidents, injuries, and expensive repairs. Maintaining a cleaning and maintenance schedule is one strategy. Make a list of all the equipment that is in use, noting any crucial locations that need inspection.
As a result, maintaining the equipment is how we can show safe working practices.
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What is the definition of gross income?
Answers
Gross income refers to the total income earned by an individual, business, or entity before any deductions or expenses are subtracted.
Gross income is typically calculated on an annual basis, representing the total income earned over a specific period, usually a fiscal year. It serves as a starting point for determining taxable income, which is the amount on which taxes are assessed.
It is important to note that gross income does not account for any deductions or expenses, such as taxes, operating costs, depreciation, or other business expenses. These deductions are subtracted from the gross income to arrive at the net income or taxable income, which is the actual amount on which taxes are levied.
For individuals, gross income includes wages or salaries earned from employment, income from self-employment or freelancing, rental income, investment income, and other sources. It is reported on the individual's tax return and is used to determine their tax liability.
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Speciality Steel Inc. will manufacture and sell 250,000 units of their product next year. Fixed costs will be $250,000. Variable costs will be 40% of sales. The firm wants to achieve a level of earnings before interest and taxes of $260,000. What selling price per unit is needed to accomplish this
Answers
Based on the amount to be sold and the intended level of earnings, the selling price per unit should be $3.40
The Contribution margin needed is:
= Fixed cost + Required earnings
= 250,000 + 260,000
= $510,000
To get to this amount, the sales should be:
Contribution margin = Sales x ( Selling price - Variable cost)
510,000 = 250,000 × 0.6x
510,000 = 150,000x
x = 510,000 / 150,000
x = $3.40
In conclusion, the selling price is $3.40
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BUILDING TEAM SKILLS
The New Therapy Company is soliciting a contract to provide five nursing homes with physical, occupational, speech, and respiratory therapy. The therapists will float among the five nursing homes. The therapists have not yet been hired, but the nursing homes expect them to be fully trained and ready to go to work in three months. The previous therapy company lost its contract because of high staff turnover owing to “burnout” (a common problem in this type of work), high costs, and low-quality care. The nursing homes want a plan specifying how the New Therapy Company will meet staffing needs, keep costs low, and provide high-quality care.
Assignment
1. Working in a group, discuss how the New Therapy Company can meet the three-month deadline and still ensure that the care its therapists provide is of high quality. Also discuss the following:
a. How many of each type of therapist will the company need?
b. How will it prevent therapists from “burning out”?
c. How can it retain experienced staff and still limit costs?
d. Are promotions available for any of the staff? What is the career ladder?
e. How will the company manage therapists at five different locations? How will it keep in touch with them (computer, voice mail, or monthly meetings)? Would it make more sense to have therapists work permanently at each location rather than rotate among them?
f. How will the company justify the travel costs? What other expenses might it expect?
Answers
The answers to the following questions will be:
a. The company needs a minimum of two full-time therapists who are active in each type of therapist who excels in staffing needs, keeps costs low, and provides high-quality care.
b. Principle of Stability of Tenure of personnel must be followed in order to prevent the therapists from “burning out” because the principle states that the management must provide the feeling of job security among the employees because, with the feeling of insecurity for the job, the employees cannot contribute their maximum.
c. It can retain experienced staff and still limit costs by :
Providing perksProviding Fringe benefitsHigher Job Satisfaction.CommunicationFeedbackTraining & developmentA handsome amount of compensationA handsome amount of salaryd. Yes, promotions are available for any of the staff if he/she has mastered their current job description and can assume more responsibility, decision-making authority, and leadership roles.
It also includes increases in salary, position, responsibility, position, and benefits. This aspect of work drives employees the most. This is the ultimate reward for your dedication and loyalty to the organization.
e. The company can manage therapists at five different locations over constant calls, online meetings, and voicemails.
Also, it will make more sense to have therapists work permanently at each location rather than rotate among them because a therapist can get comfortable and familiar with the surroundings in one place. Frequent changing positions can lead to chaos and confusion.
f. To handle the travel costs company must make sure to use their own vehicles to keep the travel cost minimum.
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Most jobs require teamwork, so it's a good idea to spend time honing the skills you'll need. Communication abilities, relationship building, and feedback exchange are all necessary for working as part of a team.
How do you improve team building skills?Trust, communication, and effective leadership are essential components of successful teamwork, as is a focus on common goals and a collective responsibility for success (or failure). Yet, if the group lacks trust and contact, it will work to work virtually.
Hence,
Working as a team, the New Therapy Company can meet the three-month deadline while still ensuring that the care provided by its therapists is of high quality.
A) The company requires at least two full-time therapists who are active in each type of therapist and excel in staffing needs, keeping costs low, and providing high-quality care.
B) The principle of personnel stability must be followed in order to prevent therapists from "burning out," because the principle states that management must provide employees with a sense of job security because employees who feel insecure about their jobs cannot contribute their full potential.
C) It can keep experienced employees while cutting costs by:
Providing incentivesOffering fringe benefitsIncreased job satisfaction.Feedback on communication Training and developmentA substantial monetary rewardA substantial salaryD) Yes, any member of the staff can be promoted if he or she has mastered their current job description and can assume more responsibility, decision-making authority, and leadership roles.
Increases in salary, position, responsibility, position, and benefits are also included. Employees are most motivated by this aspect of their jobs. This is the ultimate reward for your commitment to the organization.
E) Over constant calls, online meetings, and voicemails, the company can manage therapists in five different locations.
Furthermore, having therapists work permanently at each location rather than rotating among them makes more sense because a therapist can become comfortable and familiar with the surroundings in one location. Frequent position changes can cause chaos and confusion.
F) To keep travel costs to a minimum, companies must ensure that they use their own vehicles.
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purchased goods of rs 40000 journal entries
Answers
The journal entry for Rs. 40, 000 purchases would include a debit to purchases and credit to cash or accounts payable.
How to enter the journal ?The Purchases account is debited because the business has acquired goods, which is an asset. The Accounts Payable account is credited because the business owes money to the supplier for the goods.
Date Account title Debit Credit
XX -XXXX Purchases Rs. 40, 000
Accounts payable Rs. 40, 000
This journal entry will increase the balance of the Purchases account and the Accounts Payable account. The Purchases account will be used to track the cost of goods sold, and the Accounts Payable account will be used to track the amount of money owed to suppliers.
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The risk of being underinsured increases the most when a policy has:
A. maximum coverage.
B. a high deductible.
C. a high limit of liability,
D. multiple exclusions.
Answers
Answer:D
Explanation: multiple exclusion
Under insurance is a lack of insurance coverage, option D explains the risk of underinsured.
What does it mean to be underinsured?Under insurance is a lack of insurance coverage that leaves the policyholder liable for a large portion of a total loss or expense, potentially resulting in financial hardship.
The risk of being underinsured is greatest when a policy contains: D. multiple exclusions.
Therefore, option D explains the risk of underinsured.
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Explain how each of the following is presented in a multiple-step income statement. Sale of marketable securities at a loss. Adjusting entry to create (or increase) the allowance for doubtful accounts. Entry to write off an uncollectable account against the allowance. Adjusting entry to increase the balance in the marketable securities account to a higher market value.
Answers
Answer:
Presentation of a Multiple-step Income Statement
1. Sale of marketable securities at a loss.
In the non-operating section of the income statement
2. Adjusting entry to create (or increase) the allowance for doubtful accounts.
In the operating section of the income statement
3. Entry to write off an uncollectible account against the allowance.
In the operating section of the income statement
4. Adjusting entry to increase the balance in the marketable securities account to a higher market value.
In other comprehensive income section of the income statement
Explanation:
The sale of marketable securities at a loss gives rise to a realized loss. This is recorded in the non-operating section of the income statement after the operating section. Items 2 and 3 are recorded in the operating section of the income statement, as they relate to the entity's normal operations. Item 4 refers to an unrealized gain. This is recorded in the other comprehensive income section just as unrealized losses. The other comprehensive income section shows the comprehensive income and expenses, which refer to changes in equity that originate from non-operating sources.
When considering making a change in practice, which of the following should the project group do first?
Answers
When we try to change a practice, we can initiate it by looking for an evidence-based guideline about the issue.
Changes are the only constant things that happen in this world. However, it is important to alter the changes which happen in the project planning because it may affect the final output of the work. A well planned schedule helps in identifying the problems associated with the project, and deep analysis would help to come up with ideas as solutions. Some practices needs proper guidelines which needs to be followed duly so that those practices get us towards the idealized solution. Identification of the problem is also a solution have done because then one can allocate all the resources in implementing the plans for solution.
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The TQM has gone through five stages in its evolution. Discuss the evolution and stages of Total Quality management process
Answers
The stages of the Total Quality Management are:
1. Commitment and understanding from employees:
All the employees that work in the organization are supposed to have an understanding of the TQM policies that makes them a part of the company. They should know the goals and they should be willing to work towards the success of the business.
2. Quality improvement in culture:
The culture in the organization should be a modern one in the sense that it would encourage feedback from the employees. The employees should be listened to and their ideas should be bought.
3. Continuous Improvement:
The TQM is continuous , there has to be continuous and constant improvement in policies and procedures at the management level. Research is also very important
4. Customer requirement:
The customers always require top notch service from the business. It is very important to focus on the needs of the customers. Good customer relationship is needed for survival.
5. Effective control:
There should be evaluations of the business to check performance and also to document progress.
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Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
Answers
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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You are considering paying $200,000 for an annuity today, and you know you need a yearly cash stream of $10,000 for expenses. What is the minimum annual interest rate (that would create a perpetual cash flow stream) needed for the annuity
Answers
The minimum annual interest rate needed to create the perpetual cash flow stream of $10,000 with a present value of $200,000 is 5%.
What is a perpetuity?A perpetuity is an annuity that continues for ever. To determine the interest rate, we divide the annuity $10,000 by the present value investment of $200,000 and then multiply by 100.
Data and Calculations:Present value of investment = $200,000
Annuity (yearly cash stream) - $10,000
Interest rate = 5% ($10,000/$200,000 x 100).
Thus, the interest rate needed to create the perpetual cash flow stream of $10,000 with a present value of $200,000 is 5%.
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Maggie and Nate enter into a contract for the sale of a 1967 Ford Mustang, but Nate later refuses to deliver the car. Maggie asks a court to order Nate to perform as promised. Ordering a party to perform what was promised is
Answers
Answer:
an equitable remedy
Explanation:
Ordering a party to perform what was promised is an equitable remedy. This term refers to when there is an absence of law or regulation for a certain scenario, thus granting the judge authority to make the decision of what the law should be in that particular scenario. Therefore in a scenario like this one the judge can decide for himself/herself if they will make Nate perform what was promised or not.
During 2021, Pride bought inventory for $112,000 and sold it to Strong for $140,000. Only half of the inventory purchase price had been remitted to Pride by Strong at year-end. As of December 31, 2021, 60% of these goods remained in the company's possession. What is the consolidated total for inventory at December 31, 2021
Answers
The consolidated total for inventory at December 31, 2021 is $347,200.
Using this formula
Consolidated total for inventory=Book Value Parent's Inventory + Book Value Subsidiary's Inventory - Deferred Recognition of Intra-Entity Gross Profit on Inventory Transfer
Let plug in the formula
Consolidated total for inventory=$210,000+$154,000-($28,000 x 60%)
Consolidated total for inventory=$210,000+$154,000-$16,800
Consolidated total for inventory= $347,200
Inconclusion the consolidated total for inventory at December 31, 2021 is $347,200.
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If the dean of your faculty asked you to serve on a committee to develop a performance appraisal system for evaluating the faculty, what performance criteria would you identify? Of these criteria, which ones do you think are most likely to determine the faculty members' success at your school? What standards would you recommend to the dean, regardless of the specific evaluation instrument selected?
Answers
Answer and Explanation:
The following shall be the performance criteria for assessing the success of faculty members in the school.
1. The first criterion is the attendance of faculty and the number of lectures that the faculty is supposed to take as compared with the number of lectures the faculty actually takes during an academic year.
2. The second criterion is to assessing of faculty based on student engagement i.e student attendance how much he or she is present in a school
3. The third criterion deals with faculty involvement with respect to mentoring and motivating them for curricular activities.
4. The fourth criterion is faculty behavior. How he or she is behaving with the management, colleagues, and students.
5. The fifth criterion is based on student performance.
By the above explanation, we can conclude that the success of faculty could be determined mainly with the faculty attendance, his or her behavior students performance, etc
Now for the standard, we recommend we have to consider the ten point scale so that we can analyze each faculty performance based on the criterion as discussed above.
And for the success of each lecture, we need to do the rating that should be a minimum of 5 out of 10 for all standards, etc
One of the mentioned assumptions of portfolio management theory is that investors are rational. A
rational investor:
Answers
Answer:
Prefers a higher return for a given risk and prefers a lower risk for given return.
Explanation:
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Describe the key differences between raster-based and vector-based graphics.
Describe the main differences between 2D and 3D images. Provide at least one example of each, as well as an example of the software used for creating and editing them.
Imagine a client asked you to create a billboard to promote their new line of hair care products. Describe the tools and specific elements that you would use to create this image.
Imagine that you were hired to create the label for a new brand of soup. The client wants to emphasize that the soup has homemade flavor. Describe the tools and specific elements that you would use to create this image.
Describe a situation in which you might use anti-aliasing on an image.
Answers
Answer:
1) Vector graphics are digital photos that are rendered by a computer using a mathematical formula. Raster images are made up of tiny pixels making them dependent on the resolution of the device and best used for creating photos. This tells me that if I scale a vector image, it will keep a good, smooth, un-pixelated appearance, but if I did this to a raster image will become very pixelated.
2) 2D is "flat", using X and Y dimensions, and since the image has only two dimensions if it is turned on its side it will become a line. Whereas 3D adds depth to the image and this image can be rotated to see different views and perspectives. A sheet of paper is considered a form of a 2D shape, whereas a triangular prism is 3D because you can see all different angles and perspectives, then just one. Adobe animate is a popular software for creating 2D images, where as cinema 4d is used for 3D images.
3) To create a hairline product advertisement, I would need to include some 3D images of the product as it will bring more of the viewers attention. I would need to have great color balance and composition, so nothing looks cluttered and stuffed together or looks overcrowded. I would need to have a good composition with my font as well as balancing the colors so that the font compliments it.
4) To create a new soup product advertisement, I would need to include some images of the product as well as how it’s being made since it is a homemade soup. I would need to incorporate in some type of way that it is a homemade soup so I would make a space where I could emphasize that with a font that will fit the mood of homemade soup.
5) I believe that anti-aliasing would come in handy when I’m playing a video game and I want to boost my resolution to eliminate small jaggies, but there isn’t an option to do so here is where I can use anti-aliasing.
Explanation: Built Different
Marketing Fundamentals: Mastery Test
Drag the tiles to the correct boxes to complete the pairs.
Match the type of utility to the scenarios they depict?
time utility
place utility
form utility
possession utility knowledge utility
A fire extinguisher manufacturing company holding a demonstration explaining the new
features of a revolutionary new extinguisher.
a local store selling Christmas trees a month before Christmas
buying an apartment in a coveted location and receiving the home ownership
document after the purchase
an online shopping website offering delivery of purchased goods to a remote location
for the convenience of customers
a perfume manufacturing company producing jasmine-scented perfume from jasmine
flower extracts
1000
Answers
time efficiency: Purchasing an apartment in a sought-after neighborhood and receiving the house ownership certificate soon after the purchase Utility, a manufacturer of perfumes, produces jasmine-scented fragrance using jasmine flower extracts.
What is meant by market fundamental?The discounted present value of the future stream of associated cash flows is the market fundamental (or fundamental value) of the asset. The value of an asset depends favorably on anticipated future cash flows and adversely on the discount rate used to calculate the present value when asset values are decided by market fundamentals.
Although certain estimates of the market's fundamentals fluctuate along with market prices, they often show less volatility. This data, particularly when it comes to the stock market, demonstrates that asset prices diverge from their underlying values.
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What are the common barriers to communication?
Answers
What is revising?
please help ur gurl out
Answers
Revising is the process of reviewing and changing a piece of writing to improve its overall clarity, coherence, and effectiveness. This can include making changes to the structure, organization, tone, word choice, and grammar of a piece of writing. The goal of revising is to ensure that the message of the writing is clear, concise, and effective in communicating the intended meaning to the reader.
what is a contingency management system theory
Answers
Answer:
The contingency management theory is an organizational theory that claims that there is no best way to organize a corporation, to lead a company, or to make decisions. Instead, the optimal course of action is contingent (dependent) on the internal and external situation.
Question 3 (1 point)
Betty has a degree in wildlife conservation. She is passionate about preserving
habitats for endangered animals. What kind of company might want to hire Betty?
a farm in need of a dairy manager
a bald eagle sanctuary looking for a ranger
a pesticide company in need of a marketing person
a local food truck looking for a chef
Answers
Betty's degree in wildlife conservation and passion for preserving habitats for endangered animals make her a great fit for companies and organizations that focus on environmental conservation. A farm in need of a dairy manager or a local food truck looking for a chef may not necessarily be the best fit for Betty's skill set and interests. hence the correct option B) bald eagle sanctuary looking for a ranger.
Betty's degree in wildlife conservation makes her highly qualified for roles that involve working with endangered species, researching wildlife populations, and identifying solutions to protect and conserve habitats. As such, organizations that work to protect and preserve habitats for wildlife, including national parks and conservation areas, environmental advocacy groups, and research institutions, may be interested in hiring Betty. Additionally, companies that specialize in sustainable agriculture or eco-friendly practices may also be interested in hiring Betty, given her expertise in wildlife conservation. Overall, Betty's degree in wildlife conservation and passion for preserving habitats for endangered animals make her a great fit for companies and organizations that prioritize environmental conservation. Her knowledge, skills, and passion make her an asset to any organization that is working towards protecting the environment and preserving habitats for future generations. Therefore the correct answer is option B) bald eagle sanctuary looking for a ranger
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How does Alibaba implement competitive pricing strategy in market?
Answers
Answer:
By reducing their prices compare to the price of their competitors.
Explanation:
Note, a competitive pricing strategy refers to a pricing strategy that involves deliberately finding out the prices in which your competitor sells their product and then tailoring yours to be a little lower than theirs, by so doing customers feel motivated to buy from you instead.
For example, Alibaba can go to its competitor, let's say Amazon. and see how sells an iPhone. Then Alibaba can reduce/set its own price benchmark based on their prices.
what does journalism have you do
Answers
Answer:
yas
Explanation:
Is it more common for bonds to be sold at a discount or a premium? Explain, why?
Answers
Answer:
In a time of rising rates, bonds are bought at a discount to par for roughly the same reason.
Explanation:
There will be a higher amount of bonds selling at a premium in the market during those times when interest rates are falling. This happens because investors are getting more income from them. In a time of rising rates, bonds are bought at a discount to par for roughly the same reason.
Answer:
A bond might trade at a premium because its interest rate is higher than the current market interest rates. The company's credit rating and the bond's credit rating can also push the bond's price higher. Investors are willing to pay more for a creditworthy bond from a financially viable issuer.
Explanation:
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An early 1970s government study ("Work in America") identified three chief sources of worker dissatisfaction. Which of the following is one of those sources?
Answers
Answer:
"The rigidity of rules and regulations " is the appropriate response.
Explanation:
Rigidity seems to be a distinguishing characteristic of the disposition among people with autism or disabilities. The same kind of perspective also requires an individual to implement strict guidelines to circumstances that require uncertainty as well as consistency.That being said, regulations, as well as standards, seldom operate stringently, with little difference throughout circumstances and conditions.