Answer:
A review of an assertion about the subject matter that is the responsibility of another party
Explanation:
An attest engagement is defined as the independent review of a subject matter by a professional other than the auditor by conducting a specific procedure and he is expected to issue a report of his findings on the reliability of the subject matter.
The three stages of attestation services are compilation ,review and audit.
Attestation engagement is governed by the Statements on standard for attestation engagement (SSAE)
The Code of Professional Conduct contains Principles that guide all members of the AICPA. A commitment to act for the benefit of clients, creditors, investors, and others is most directly embodied in which Principle?
Answer:
The right answer is "The public interest".
Explanation:
Something that threatens the general public privileges, wellbeing, or finances throughout general. Public interest throughout the customer relations but mostly entanglements of central, state, as well as the national government, seems to be a legitimate issue and that of other community members. This doesn't specifically mean interest but seems to be a broad term often used to refer to something like the legislative body as well as the general welfare of the general public.Which of the following statements is FALSE? A. Investments with higher volatility have rewarded investors with higher average returns. B. Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios and the returns of individual securities. C. Riskier investments must offer investors higher average returns to compensate them for the extra risk they are taking on. D. Investments with higher volatility should have a higher risk premium and, therefore, higher returns.
Answer: B. Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios and the returns of individual securities.
Explanation: Over time, investment with high degree of volatility, which refers to the rapid unpredictability associated with the price or value of an investment seems to have ditched out higher returns and risk premium on those investment to investors in other to reward them for making such unpredictable investment. This said, the risk associated with an investment plays a huge factor in determining the average return issued to investors as higher risk investment attracts higher returns. However, when evaluating large portfolios and return of individual securities, volatility such not be used as a reasonable determinant of the risk associated with such investment as the large portfolios and individual securities are usually prone to unpredictability which should not be translated to the probability that such investment will result in loss of capital.
the insured under a $1000000 life insurance policy with a triple indemnity rider for accidental death was killed in a car accident it was determined that the accident was his fault the triple indemnity rider in the policy specifies that the death must be contributed to by the insured in any
Answer:
A triple indemnity rider establishes that the insurance company will pay double or triple (depends on the accident and the specifics of the policy) the original insurance amount in case the insured dies from an accident as long as the insured was not responsible for the accident. In this case, since the insured was responsible for causing the accident, his family will receive the face value of the policy ($1,000,000) and the triple indemnity rider clause will not be enforced.
Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
Answer: input control
Explanation:
From the question, we are informed that Coda Inc. is an apparel manufacturer and that the management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales.
We are further told that it allocates a budget to each function at the beginning of each quarter. This is an example of implementing input control.
The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate:
Answer:
Freedom of choice.
Explanation:
The freedom of resource which allow owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate: is generally referred to as the freedom of choice.
Freedom is one of the essential virtues or elements of a typical market system amongst incentives and efficiency.
A freedom of choice avails individuals and organizations the opportunity or privilege to make decisions and reasoned selection as they deem it fit.
Compensate for the risk. Delay an action. Reject the risk. Transfer the risk. A squad needs to cross a narrow footbridge across a windy, mountain chasm to execute a critical mission. The squad leader is concerned about the hazards and associated risk, so he raises the issue to the platoon commander. The platoon commander directs that each member of the squad become linked to a single rope that is anchored to a nearside belay. This directive is an example of which type of risk control
Answer:
Compensate for the risk
Explanation:
In the context of the scenario given , risk is defined as a form of exposure to a potential dangerous situation.
It is necessary for any person organization facing a risky situation to look for ways of minimizing or avoiding the risk in order to reduce related losses. Risks can be avoided through transfer , rejection , delayed action and compensating the risk,
The method of risk aversion described in the scenario is to compensate the risk.
Compensating the risk is a risk control method of using an alternative means to achieve a particular purpose in order to avoid the related risks to using the initial method.
Integrated marketing communications: Group of answer choices provide an approach to deliver one consistent message. budget the promotional efforts related to a product. measure the number of people exposed to a message. measure how often people are exposed to a message. measure how receivers interpret messages.
Answer:
provide an approach to deliver one consistent message
Explanation:
Integrated marketing communications is a concept in which a company tries to make sure that all the forms of communications that are used are integrated to help one another and maintain a consistent message through the different channels used. According to this, the answer is that integrated marketing communications provide an approach to deliver one consistent message because the idea of this concept is that the company integrates all the forms of communications used to have a cohesive message to reach its target market.
Certain closing costs will be prorated to account for the period of time during which the seller occupied the house. If a transaction is scheduled to close on September 21 (236 days into a 365-day year), calculate the amount that the buyer will be credited if the particular closing cost in question is estimated to be $1,569 for the entire year
Answer:
Amount will be credit = $1,014.47
Explanation:
Given:
Closing cost = $1,569
Total number of days work = 236 days
Total number of days in year = 365 days
Find:
Amount will be credit.
Computation:
Amount will be credit = Closing cost × [236 / 365]
Amount will be credit = $1,569 × [236 / 365]
Amount will be credit = $1,014.47
A company has revenues of $1,250,000 with a net profit margin of 10%. If the depreciation for the year is $75,000, short-term investments decreased by $15,000, accounts receivable increased by $10,000, inventory decreased by $5,000 and accounts payable decreased by $6,000, what is the net cash provided by operations.
Answer:
$204,000
Explanation:
The computation of net cash provided by operations is shown below
Cash flow from operating activities
Net profit ($1,250,000 × 10%) $125,000
Add: depreciation expense $75,000
Add: Decrease in short term investment $15,000
Less: Increase in account receivable -$10,000
Add: Decrease in inventory $5,000
Less: Decrease in account payable -$6,000
Net Cash provided by operations $204,000
The minus sign depicts the cash outflow and the positive sign depict the cash inflow
A key process topic that should be part of early discussions regarding ground rules is appropriate decision making and problem solving, ensuring that the project manager and core team understand who makes each type of decision and how those decisions are made.
a. True
b. False
Answer: true
Explanation:
From the question, we are informed that a key process topic that should be part of early discussions regarding ground rules is appropriate decision making and problem solving, ensuring that the project manager and core team understand who makes each type of decision and how those decisions are made.
This is true. It should be noted that for a project manager to achieve his or her goals, the person must be a problem solver and have what it entails to succeed.
You hold a diversified $100,000 portfolio consisting of 20 stocks with $5,000 invested in each. The portfolio's beta is 1.12. You plan to sell a stock with b = 0.90 and use the proceeds to buy a new stock with b = 1.50. What will the portfolio's new beta be? Do not round your intermediate calculations.
Answer:
1.15
Explanation:
A diversified portfolio consists of $100,000 with 20 stocks and $5,000 invested in each of the stock
The portfolio beta is 1.12
You plan to sell a stock with a beta of 0.90, the proceeds gotten from it will be used to purchase a new stock with a beta of 1.50
Therefore, the portfolio's new beta can be calculated as follows
= (20×1.12-0.9+1.50)/20
= (22.4-0.9+1.50)/20
= 23/20
= 1.15
Hence the portfolio's new beta is 1.15
Entrepreneurial opportunities Group of answer choices are conditions in which new goods or services can satisfy a need in the market. are conditions contrary to a firm"s established strategy and segments served. present risk to the firm and should be avoided. present the potential for a firm to leverage existing products or services into new markets.
Answer:
Option A would be the correct choice.
Explanation:
These would be generally characterized as circumstances where commodities could be offered at that same slightly higher price than certain manufacturing costs. This is indeed a condition in which businessmen will operate to make massive profits.
There seem to be certainly profit-making circumstances:
There have been plenty of companies that are making profits.Even though policymakers described it.Manipulating information asymmetries.Some other options in question aren't relevant to the particular circumstance. And option A is the right one.
Land is purchased for $256,000. Additional costs include a $15,300 fee to a broker, a survey fee of $2,400, $1,750 to construct a fence, and a legal fee of $8,500. What is the cost of the land
Answer:
The answer is $282,200
Explanation:
The cost of an asset includes the purchase price (cost of acquisition) and the cost neccessary to bring it usage.
For example, for cost of acquiring a machinery, the purchase price minus any trade discount plus cost of transportation, plus any tax paid on acquisition plus cost of installation etc.
But for the acquisition of land, all the cost except the cost of fence of the land will be considered.
So we have:
Purchase price. $256,000
Broker's fee. $15,300
Survey fee. $2,400
Legal fee $8,500
Cost of the land. $282,200
Suppose you have been inducted as IT Consultant (Cyber Security) in a growing E-Commerce driven business. How will you ensure security/privacy for online transactions over the internet while securing customer network/information/credentials?
Answer:
The question is one of Cyber Security.
To ensure security/privacy for online transaction while securing customer network, information and credentials, the first step is to ensure that:
1. The website itself is hosted with a very secure platform. This can be achieved by:
Picking the right hosting company.Ensuring that your hosting company itself utilizes secure servers and networks.Adding a two-factor authentication for the C-Panel and other access points to the hosted websiteEnsuring that the website is secured using a Secure Sockets Layer (SSL) protocol. This certificate helps to ensure the authentication, encryption and decryption of data transmitted over the Internet.
2. Use Web Application Firewall (WAF)
This is a hardware or software system that allows authorized traffic and blocks unauthorized or potentially malicious access to a network.
3. Ensuring that the website is compliant with PCI DSS requirements
PCI DSS refers to Payment Card Industry Data Security Standard.
This technology helps to eliminate fraud and secure e-commerce websites.
4. Real-Time Bot Detection Technology
Bots are also used by malicious people to steal information and or vendor data. If the website is enhanced with a Bot Detection Technology, it will help reduce the effects of such.
5. As an e-commerce business, one must force users to use very strong passwords. This may be done a the point of registration. Passwords boxes besides having the regular encryption must be configured to accept only strong passwords.
Cheers!
When Brandon decided he needed a new car, he immediately called his old college roommate, who owns a BMW dealership, to ask questions about options and financing. Brandon was searching for information from Group of answer choices
Answer:
external source
Explanation:
In this specific scenario, Brandon was searching for information from an external source. In this case, Brandon's friend is the external source of information, because he is someone from the outside that is capable of providing Brandon with the information that he needs and why Brandon reached out for that information. Internal Information would be information that comes from Brandon's own memories.
Basics Test - English EXIT PREVIOUS Paul is setting up a marketing/sales event at a community center where he is going to discuss UnitedHealthcare Medicare Advantage plans. He has placed a UnitedHealthcare logo pen ($3 value), Clarity consumer workbook, and an Enrollment Guide at each seat. What, if anything, has Paul done wrong
Answer:
What Paul has done wrong is to place these marketing materials on seats. He should devised a plan to give out these materials at the registration point where participants would be registered and then they would collect the items. By placing them on the seats, some of the participants could collect more than one, especially the valuable pen that is worth $3 each.
Explanation:
Marketing materials cost the entity some funds to produce. They should not be wasted. In addition, the number of participants with some details like names and contact information should be captured for future marketing efforts. Allowing participants to have free access to the marketing materials that cost so much without driving any potential customer list is not prudent.
The ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the year. The company had declared a dividend of $1.5 million. What was the net income earned during the year
Answer: $4.1 million
Explanation:
From the question, we are informed that the ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the year and that the company had declared a dividend of $1.5 million.
The net income earned during the year will be:
= $2.6 million + $1.5 million
= $4.1 million
When over 200,000 people were injured or killed as a result of gas being released from a Union Carbide plant in Bhopal,India,the cause was attributed to a number of factors: the company saving money by not installing safety devices,the political arrangements that enable Union Carbide to build a plant in India,the people living in the vicinity of the plant being too poor to live in safer locations,etc.Thus the people were victims of _______________.
A) multinational corporations
B) apartheid
C) structural violence
D) overpopulation
E) cultural pluralism
Answer:
C. Structural violence
Explanation:
Structural violence can be seen as a form of violence in which some social structure or social institution may harm people by preventing them from meeting their basic needs. It is an avoidable form of violence against people. It can be avoided by putting in place safety measures to protect people's lives.
The over 200,000 people who were injured or killed as a result of gas being released from a Union Carbide plant in Bhopal,India, which was caused by a number of factors such as the company saving money by not installing safety devices, the political arrangements that enable Union Carbide to build a plant in India, the people living in the vicinity of the plant being too poor to live in safer locations are victims of structural violence.
Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbour's farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares
Complete Question:
Akram owns a small farm.He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbors farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares.
Requirement. Identity two types of short-term finance Akram could use when the farm income is low
Answer with its Explanation:
The two types of short term finances are as under:
Merchant Cash Advance: It is also known as supplier payables but in fact it is actually an cash advance by supplier to promote its sales by allowing credit for a short term. It doesn't what level of profits the company is earning, the supplier always allow small period for payment of its goods.Invoice Financing: It helps the company borrow money from money lenders (mostly banks) against the debtors accounts. This is usually a short term loan with option to expand both time and money if the company has proven to growth and better credit control. The invoice finacing doesn't effect the borrowings in short term if the business profits are low because for qualifying for such loan the company must have better cash postion. Though higher profits might help in securing the short term loan by using invoice financing but cash generation is the key requirement here.In recent years, the United States has Group of answer choices had a large goods trade surplus with the rest of the world. exported more services abroad than it has imported. maintained an overall trade surplus (goods and services combined) with the rest of the world. had a small goods trade surplus with Japan
Answer:
exported more services abroad than it has imported.
Explanation:
The US in recent years have been the largest exporter of services in the world. The United states is as of today known as a global leader in services export which has been seen to grow seven fold over the past 34 years especially from areas like insurance and financial services. From an average of 40 countries(both emerging and advanced economies), the country has the lowest trade barriers in 14 out of 18 services sectors.
Complete the sentence. An increase in labor productivity ______. A. increases the supply of labor, increases potential GDP, and decreases potential GDP per hour of labor B. increases potential GDP and decreases potential GDP per hour of labor C. decreases the real wage rate, increases potential GDP, and increases potential GDP per hour of labor D. shifts the demand for labor curve rightward and the production function upward
Answer:
The correct answer is
Explanation:
increases potential GDP.
Hope this helps....
Have a nice day!!!!
An increase in labor productivity decreases the real wage rate, increases potential GDP, and increases potential GDP per hour of labor. Thus, option (c) is correct.
What is GDP?The gross domestic product (GDP) of a nation over a certain time period captures the monetary value of all final goods and services, those purchased by the consumer, that are produced there. The every country economic indicator was the depend on the measurement of Gross domestic product.
According to the economist, the increase in labor productivity was the automatically increases the demand of the labour. The number of the hours in the labour was the also increased. It was the increases in the potential GDP per hour of labor. But, the drawback is decreasing the real wage rate.
As a result, the significance of the GDP are the aforementioned. Therefore, option (c) is correct.
Learn more about on GDP, here:
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A group consists of key representatives from all departments in the product development process, such as marketing, sales, finance, and manufacturing. These core members have primary responsibility for the product, with supporting resources as needed. This is an example of a(n) self-managed team. cross-functional team. flexible workforce. extended team. CRM team.
Answer:
self-managed team
Explanation:
The self-managed team is a team of people who are working in a group belonging from different specialization that is responsible and accountable with respect to the product production and service delivering
Here, in the given question it is mentioned that the core members have responsibility for the product or the resources required
Therefore the first option is correct
On Monday, the seller offers to sell his vacant lot to the buyer for $42,000. On Tuesday, the buyer counteroffers to buy for $40,500. On Friday, the buyer learns that several other prospects may be making offers on the property, so he withdraws the counteroffer and agrees to the original asking price of $42,000. Under these conditions, there is
Answer:
b. not a valid agreement because the buyer's counteroffer was a rejection of the seller's offer, and once rejected, an offer cannot be accepted later.
Explanation:
Since in the question it is mentioned that the vacant lot is offered for $42,000 but the buyer counteroffers to buy $40,500 but afterward he agreed to the original price of $42,000
So this situation represents that it is not a valid agreement as the counteroffer made by the buyer was rejected by the seller and once it is rejected then the same could not be accepted
Therefore the correct option is b.
Jack oversees two very different workers. Kenny wants to be told exactly what to do because he is hesitant to make decisions, and Laila wants to be told exactly what to do because she wants to get on with it. So, even though they are very different people, they both respect decisiveness. According to the path-goal theory of leadership, Jack should use the _____________ leadership style with Kenny and Laila.
Answer:
Directive.
Explanation:
In this scenario, Jack oversees two very different workers. Kenny wants to be told exactly what to do because he is hesitant to make decisions, and Laila wants to be told exactly what to do because she wants to get on with it. So, even though they are very different people, they both respect decisiveness. According to the path-goal theory of leadership, Jack should use the directive leadership style with Kenny and Laila.
Under a directive leadership style, leaders generally set a clearly defined objective, guidelines, roles or functions and rules for his or her subordinates (employees).
Hence, it is always considered or deemed necessary to guide employees to achieve organizational success in a directive leadership style.
If the liabilities of a business are Rs.7,50,000 and the capital is Rs. 8,50,000. Find the total assets.
Rs 1600000
Explanation:
accounting equation= asset= liability+capital
A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,500. The company retired these bonds by buying them on the open market at 97. What is the gain or loss on this retirement
Answer:
$1,500 loss
Explanation:
Calculation for the gain or loss on this retirement
First step is to find the 97% of the bond outstanding $100,000
Par value of bond=97%*$100,000
Par value of bond=$3,000
Second step is to calculate for the gain or loss on the retirement using this formula
Carrying value of bond=Par value of bond-Unamortized discount on bond
Let plug in the formula
Carrying value of bond=$3,000-$4,500
Carrying value of bond= -$1,500
Therefore the loss on this retirement will be $1,500
Tyrone's boss said that he can come and work for an extra 3 hours this afternoon, but it is optional. Tyrone decided to go to the beach instead. Assuming he makes $14 an hour (after taxes) and his trip to the beach costs him $10 in gas and toll, how much is his opportunity cost to go to the beach?
Answer:
$4
Explanation:
The computation of the opportunity cost for going to the beach is shown below:
= Hourly wages after considering the taxes - the cost of the beach in gas and toll
= $14 - $10
= $4
We simply deduct the cost of beach in gas and toll from the hourly wages so that the opportunity cost to go to the beach could come
Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $8,800 (that had cost...
Levine Company uses the perpetual inventory system.
Apr. 8 Sold merchandise for $8,800 (that had cost $6,503) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee.
12 Sold merchandise for $8,600 (that had cost $5,573) and accepted the customer's Continental Card. Continental charges a 2.5% fee.
Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.)
Answer:
Date General Journal Debit Credit
Apr 8 Cash $8,448
Credit card expenses $352
(8,800 * 4%)
Sales $8,800
(Sales of merchandise, receipt of cash
and credit card charges recorded
Apr 8. Cost of Goods sold $6,503
Merchandise Inventory $6,503
(Cost of goods sold recorded)
Apr 12. Cash $8,385
Credit card expense $215
(8,600 * 2.5%)
Sales $8,600
(Sales of merchandise, receipt of cash
and credit card charges recorded
Apr 12 Cost of goods sold $5,573
Merchandise Inventory $5,573
(Cost of goods sold recorded)
Hudson Corp. operates several factories that manufacture medical equipment. The factories have a historical cost of $200 million. Near the end of the company’s fiscal year, a change in business climate related to a competitor’s innovative products indicated to Hudson’s management that the $170 million carrying amount of the assets of one of Hudson’s factories may not be recoverable. Management identified cash flows from this factory and estimated that the undiscounted future cash flows over the remaining useful life of the factory would be $150 million. The fair value of the factory’s assets is reliably estimated to be $135 million. The change in business climate requires investigation of possible impairment. Which of the following amounts is the impairment loss?
A) $15 million.
B) $20 million.
C) $35 million.
D) $65 million.
Answer:
C) $35 million.
Explanation:
The computation of the impairment loss is shown below:
= Carrying amount of the assets - fair value of the factory assets
= $170 million - $135 million
= $35 million
Since the carrying amount exceeds the fair value of the asset so the impairment loss is recorded and hence the same is to be considered.
Hence, the correct option is c.
Bakery A sells bread for $2 per loaf that costs $0.50 per loaf to make. Bakery A gives a 70% discount for its bread at the end of the day. What is the salvage value of its bread? $2.00 $0.10 $0.50 $0.60
Answer:
Salvage value = $0.60
Explanation:
Selling Price = $2 per loaf
Discount on price = 70%
So, salvage percentage is 100% -70% = 30%
So, Salvage value = Salvage/Percentage * Selling price
Salvage value = 30/100 * $
Salvage value = $0.60
