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3 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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According to the CAPM, what is the expected market return given an expected return on a security of 12.5%, a stock beta of 1.9,

marusya05 [52]

Answer:

Explanation:

The security is 12.5%

The stock beta is 1.9

The risk free interest rate is 3%

Therefore the expected market return can be calculated as follows

12.5= 3 + 1.9×Market return

12.5= 3 + 1.9market return

12.5-3= 1.9market return

9.5= 1.9market return

market return= 9.5/1.9

= 5%

Hence the expected market return is 5%

8 0

3 years ago

Why did many artisans, manufacturers, and shopkeepers in the middle colonies in the eighteenth century prefer servants' labor ov

dolphi86 [110]

Answer:

they can receive more work for less pay from the servants as opposed to the wage workers

Explanation:

Based on the information provided within the question it can be said that they preferred servants' labor more because they can receive more work for less pay from the servants as opposed to the wage workers. At that time roughly four months of workers' wages would pay for about five or six years of servant labor, thus leading to a massive increase in savings for the employer.

7 0

4 years ago

Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $25,300. Strawberry Fields recorded d

Alexus [3.1K]

Answer:

Effect on income= $6,100 gain

Explanation:

Giving the following information:

Strawberry Fields purchased a tractor at a cost of $39,000 and sold it two years later for $25,300. Strawberry Fields recorded depreciation using the straight-line method, a five-year service life, and an $7,000 residual value.

First, we need to calculate the accumulated depreciation:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (39,000 - 7,000)/5= 6,400

Accumulated= 6,400*2= 12,800

Now, we can determine the loss or profit:

Effect on income= selling price - book value

Effect on income= 25,300 - (32,000 - 12,800)= 6,100 gain

3 0

3 years ago

Read 2 more answers

The next dividend payment by Savitz, Inc., will be $1.68 per share. The dividends are anticipated to maintain a growth rate of 6

olasank [31]

Answer:

The answer is 11.25%

Explanation:

Solution

Given that:

The next step to take is to calculate the required rate of return which is shown below:

The required rate = D₁/P₀₀ + g

Thus,

$1.68/$32 + 0.06%

=0.0525 + 0.06

=0.1125 or 11.25%

Therefore, the required rate of return is 11.25%

7 0

3 years ago

The automatic ticket machines at a railroad station are programmed to ask every 7th ticket buyer on a given day if they would bu

jeka94

Calculate the sample proportion (198 yes responses out of 316).
$\hat{p}= \frac{198}{316} =0.6266$

We want to test against a sample size of n = 2200 daily passengers.
In order to use the normal distribution, we should satisfy
$n \hat{p} \ge 10\,\, and\,\, n(1 - \hat{p}) \ge 10$
2200*0.6266 = 1378.5
2200*(1-0.6266) = 821.5
We may use the normal distribution.

Let us use a 95% confidence interval.
The estimate for the population proportion is
$p=\hat{p} \pm z^{*} \sqrt{ \frac{\hat{p}(1-\hat{p})}{n} }$
where z* = 1.96 at the 95% confidence level.

$1.96 \sqrt{ \frac{06266(1-0.6266)}{2200} } =0.0202$
Therefore
p = 0.6266 +/-0.0202 = (0.6064, 0.6468)

Answer:
At the 95% confidence level, about 60% to 64% of regular passengers will buy snacks on the train.

3 0

3 years ago