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1 year ago

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

1 answer:

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

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g You own shares of a company that reported after-tax earnings of $29 million and has issued 2 million shares of stock. The comp

musickatia [10]

Answer: 0.35

Explanation:

The Price to Earnings ratio is used to value companies and is calculated by dividing the company's stock price by its earnings per share.

Earnings per share = 29,000,000/2,000,000 shares

= $14.50

PE ratio = Share price / Earnings per share

= 5.09/14.50

= 0.35

4 0

2 years ago

J. Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores, dep

rjkz [21]

Answer: True - Monopolistic competition

Explanation:

The monopolistic competition is one of the type of imperfect competition in which the various types of industries selling the products and the services that is basically differentiated from others.

In the monopolistic competitors, the different types of decision taken by an organizations are not directly affecting the other competitors in the market.

According to the question, the J. Pitner's is basically refers to the monopolistic competition in the given competitive environment as it helps in establishing the reputation by offering the various types of high quality services.

Therefore, Monopolistic competition is the correct answer.

5 0

3 years ago

Ocean City Kite Company sells kites for $11.50 per kite. In FY 2019, total fixed costs are expected to be $250,000 and variable

Dmitry_Shevchenko [17]

Answer:

40,000 kits

Explanation:

The computation is shown below:

Number of kits required to be sold to meet the goal = Total Contribution Margin Required ÷ Contribution Margin per Unit

where,

Total contribution margin required is

= Total fixed cost + operating income

= $250,000 + $90,000

= $340,000

And, the

Contribution Margin per Unit = Selling Price per Unit - Variable Cost per unit

= $11.50 - $3

= $8.50

So, the number of kits required is

= $340,000 ÷ $8.50

= 40,000 kits

8 0

3 years ago

If consumers view the output of any firm in a market to be identical to the output of any other firm in the market, the demand c

Georgia [21]

Answer:

B. will be horizontal.

Explanation:

In the case when the firm is in the perfect competition market so here the demand curve would be horizontal as because of the same product and also the transaction cost is lesser that means if someone rise the prices so the producer would lost all its revenue

Therefore as per the given situation, the option b is correct

6 0

2 years ago

Dave, a graphic designer, has applied for a job at Animatrix Co., an animation studio. When he is called for the interview, Dave

Alex_Xolod [135]

Answer:

The correct option is: B. work sample

Explanation:

Work sample is a statistical technique by which the employer tests the ability of a candidate by assigning a sample work to be performed, in order to evaluate or analyze the work performance of the individual.

It can also be defined as the previous work or projects that are used to determine the efficiency or performance of the candidate.

<u>Therefore, in the given scenario, Dave’s graphic portfolio is an example of a </u><u>work sample.</u>

6 0

3 years ago