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2 years ago

The auditors' responsibility to communicate findings with respect to fraud can best be summarized as:

1 answer:

4 0

The auditors' responsibility to communicate findings with respect to fraud can best be summarized as: Communicate to the audit committee both material and immaterial amounts of fraud that are detected. This is further explained below.

<h3>What is auditors?</h3>

Generally, An auditor is a person qualified to examine financial documents, confirm their correctness, and make sure businesses are following tax regulations.

In conclusion, the Auditors' duty to report fraud-related discoveries is summed up as follows. Any identified fraud, no matter how little, should be reported to the audit committee.

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Suppose that, in an attempt to combat severe unemployment, the government decides to increase the amount of money in circulation

ELEN [110]

Answer:

increases

higher

lower

Explanation:

If the money supply is increased. individuals would have more money and consumption would increase. Increase in consumption would lead to a rise in demand.

when demand exceeds supply, prices rise,

When there is a rise in price, it encourages producers to increase production in order to increase their profit margin.

In order to expand production, more factors of production would be needed. So, more labour would be hired. thus, unemployment would fall.

it can be seen that higher inflation lowers unemployment

5 0

3 years ago

What is the state of education today with respect to technology use by teachers?

vitfil [10]

Technology has been very useful for the education. Teachers have found ways in order for technology to be more beneficial rather than detrimental to students. The use of televisions for certain classes allows the students to properly visualize the topics. Also, social media have been grounds for teachers to share their materials to the students and students to their co-students.

8 0

3 years ago

An automobile manufacturer produces and sells the Energy-Saver Car in North America. It also produces and sells the Smart Little

Sergio039 [100]

Answer:

We will get $7680(thousands)

Explanation:

Answer

If we read the given data values in the passage, it is clear that the mean annual number of smart little cars in china is 7500 and the variance is equal to 6400

The variance is given for the number of cars, but not for the profit.

So, we need to convert the numerical value(number of cars) to money value(profit)

it is given that net revenue per car is $1.2 (thousands)

So, multiplying the net revenue by number of cars

we get, variance in profit = 6400*1.2 = $7680 (thousands)

3 0

3 years ago

Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Assets Liabiliti

VMariaS [17]

Answer:

the requirements are missing, so I looked for a similar question:

a. Current ratio = current assets / current liabilities

2017 = $62,976 / $50,555 = 1.25

2018 = $67,600 / $57,000 = 1.19

b. Quick ratio = (current assets - inventory) / current liabilities

2017 = ($62,976 - $26,042) / $50,555 = 0.73

2018 = ($67,600 - $27,500) / $57,000 = 0.70

c. Cash ratio = cash / current liabilities

2017 = $24,086 / $50,555 = 0.48

2018 = $24,500 / $57,000 = 0.43

d. Total asset turnover = sales / average total assets

2018 = $373,473 / [($391,671 + $430,000) / 2] = 0.91

e. Inventory turnover = cost of goods sold / average inventory

2018 = $254,500 / [($26,042 + $27,500) / 2] = 9.51

f. Receivables turnover = sales / average accounts receivable

2018 = $373,473 / [($12,848 + $15,600) / 2] = 26.26

g. Profit margin = net profit / total sales

2018 = $54,319 / $373,473 = 14.54%

h. Return on assets = net income / average total assets

2018 = $54,319 / [($391,671 + $430,000) / 2] = 13.22%

i. Return on equity = net income / average equity

2018 = $54,319 / [($281,116+ $311,435) / 2] = 18.33%

8 0

3 years ago

A company is trying to decide between two independent projects. Each project has a cost of capital of 12%. Project A has an IRR

Rina8888 [55]

Answer:

Neither project should be chosen

Explanation:

Given that

Each project cost of capital is 12%

The IRR of project A is 11.4%

And, the IRR of project B is 11.1%

As we can see that the cost of capital of each project with their internal rate of return so no project should be selected

Therefore the above statement represent an answer

The same should be relevant

6 0

3 years ago