1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ilia_Sergeevich [38]
2 years ago
5

How to identify the significant accounts, disclosures, and relevant assertions in auditing long-lived assets?

Business
1 answer:
RSB [31]2 years ago
6 0

An account or disclosure is a vast account or disclosure if there's an inexpensive possibility that the account or disclosure should contain a misstatement that, personally or when aggregated with others, has a fabric impact on the financial statements, considering the risks of each overstatement.

On the subject of auditing balance sheet accounts, which includes lengthy-term property and liabilities, the important thing assertions that an auditor will test are lifestyles; rights and duties; completeness and valuation.

To be able to become aware of these risks, we carry out techniques such as subsequent: Discussions with key employees to gain knowledge of your employer and its environment. Discussions and walkthroughs achieved and documented over internal manipulation tactics. diverse analytical tactics.

Learn more about environment here: brainly.com/question/17413226

#SPJ4

You might be interested in
Vandel Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 5,900 units are p
Fantom [35]

Answer:

Given:

Sales budget = 5,900 units

Variable selling and administrative expense = $11.20 per unit

Fixed selling and administrative expense = $131,570 per month

Depreciation = $16,520 per month

Therefore, we'll compute cash disbursements for selling and administrative expenses using the following formula:

<em>Cash disbursements = Variable selling and administrative expense × Sales budget +  Fixed selling and administrative expense - Depreciation</em>

Cash disbursements = $11.20 × 5,900 + $131,570 - $16,520

<u><em>Cash disbursements = $181,130</em></u>

3 0
3 years ago
Read 2 more answers
Private and public sector organizations that must follow HIPAA provisions are called ____________________.
Alenkasestr [34]

Answer:

covered entities

Explanation:

8 0
2 years ago
What is demand in marketing?
solniwko [45]

<em><u>Market demand is the total quantity demanded across all consumers in a market for a given good. Aggregate demand is the total demand for all goods and services in an economy.</u></em>

5 0
3 years ago
Read 2 more answers
Will name brainliest
Lina20 [59]

Answer:

in the wild, where she stories animals development and behaviour,and then travel to zoos where she report her findings

8 0
3 years ago
Read 2 more answers
An auditor client sells 15 to 20 units of product annually. A large portion of the annual sales occur in the last month of the f
otez555 [7]

Answer:

B.

Explanation:

Based on the information given that a large portion of sales occur at the last month of the year, a key audit concern or risk would be the revenue or sales cutoff. This concern is on the recognition of revenue in the appropriate period as most of the sales are recorded in the last month of the year. The risk exist that such sales are recognized to meet up with the yearly sales target of the organization. The performance of analytical procedure would not be effective as the results (trend) over the past 5 years have been similar. A test of internal controls at an interim date may also not be effective as there may be multiple level connivance to ensure that sales target are met. Also, the review of period end compensation of bonuses paid may not address the identified risk as such option B which deals with revenue recognition is the most appropriate option.

3 0
4 years ago
Other questions:
  • According to O*NET, what are common skills needed by Hotel, Motel, and Resort Desk Clerks? Check all that apply.
    5·3 answers
  • Mordred had been sued by a former business partner. the partner was seeking $1,000,000 in damages. mordred felt that this claim
    11·1 answer
  • Exercise 6-5 (Algo) Performance obligations [LO6-2, 6-4, 6-5] On March 1, 2021, Gold Examiner receives $156,000 from a local ban
    5·1 answer
  • 3. Definition of economic costs Felix lives in Miami and runs a business that sells boats. In an average year, he receives $851,
    13·1 answer
  • Please help it’s due today<br><br> It’s business<br><br> About location
    11·1 answer
  • Olaf lives in the state of Minnesota. In 2020, a tornado hit the area and damaged his home and automobile. Applicable informatio
    11·1 answer
  • and ends at (240,250). There is a blue downward sloping line that starts at (70,250) and ends at (240,150).) What sales price sh
    7·1 answer
  • _____ is the quantity of a good or service that people are willing to buy at various prices. Group of answer choices Capacity Ma
    8·1 answer
  • a. Define the marginal social cost of pollution. b. Define the marginal social benefit of pollution, and explain why polluting m
    10·1 answer
  • The planning cycle is represented with six steps in our text, but in practice, it has?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!