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Volgvan
2 years ago
11

In assessing control risk for purchases, an auditor agrees a sample of entries in the voucher register to the supporting documen

ts. which assertion would this test of controls most likely support?
Business
1 answer:
LekaFEV [45]2 years ago
3 0

In assessing control risk for purchases, an auditor agrees a sample of entries in the voucher register to the supporting documents. The assertion would this test of controls most likely support is "<u>Existence or occurrence"</u>.

<h3>What do you mean by Existence assertion?</h3>

The term assertion refers to as the term that describe Confident/ forceful statement of fact or belief.

The existence assertion is refers to as the assertion that include the assets, liabilities and shareholders' equity balances that are shown on a firm's financial statements.

Adding to it, existence assertion is necessary for auditor because through this he/she collect whatever evidence is mandatory to create a link between value on records and real world counterparts.

Learn more about assertion, refer to the link:

brainly.com/question/27934075

#SPJ4

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A company has net sales of $752,000 and cost of goods sold of $543,000. its net income is $17,530. the company's gross margin an
Marat540 [252]
Net sales/revenue = $752,000
Cost of goods sold (COGS) = $543,000
Net income = $17,530

To find the gross margin you will follow the equation:
gross margin = (revenue-COGS)/revenue 
gross margin = ($752,000-$543,000)/$757,000
gross margin = $209,000/$757,000
gross margin = .276, 27.6%

To find the operating expenses or OER you'll need to divide the companies operating expenses by the operating income.  This will yield in the operating expenses. 

8 0
4 years ago
Santo Corporation declares and distributes a cash dividend that is a result of current earnings. How will the receipt of those d
Readme [11.4K]

Answer:

Under the equity method, cash dividends reduce the carrying value of the investment account (asset account), they are not considered income. For e.g.

Journal entry to record investment

Dr Investment in Santo Corporation 100,000

    Cr Cash 100,000

Journal entry to record cash dividend

Dr Cash 5,000

    Cr  Investment in Santo Corporation 5,000

Under the fair value method, cash dividends are considered income, therefore, they increase net income. For e.g.

Journal entry to record investment

Dr Investment in Santo Corporation 100,000

    Cr Cash 100,000

Journal entry to record cash dividend

Dr Cash 5,000

    Cr Dividend income 5,000

8 0
3 years ago
________ would be hurt by unexpected inflation. a. A firm that purchased inputs with a two-year contract b. A worker whose wage
shepuryov [24]

Answer:

a firm who hired a worker

Explanation:

on a two year wage contract

6 0
3 years ago
Porsche AG uses the label "Top Guns" to describe one segment of its customers, namely those who care about power and control and
Lady bird [3.3K]

Answer:

The correct answer is C. Psychographic

Explanation:

This type of segmentation specializes in the study of the consumer's psychological traits and other aspects inherent in his life, which can be likes, lifestyle, interests, desires, etc. Under this segmentation, it is possible to get much closer to the ideal consumer, although it takes a lot of effort to implement it.

3 0
3 years ago
Read 2 more answers
An optimum that occurs as a corner solution A. cannot exhaust the budget constraint. B. includes only one good. C. cannot be an
bazaltina [42]

Answer:

B. includes only one good.

Explanation:

A corner solution is a microeconomics concept, which is used to illustrate the graphical representation of a situation where an individual wouldn't do some things at any cost or for any price.

Optimum is usually experienced on the consumer graph at the point where the indifference curve (IC) is just tangential to the consumer's budget constraint. Thus, the corner solution lies at the non-zero interior, which then means that none of the other goods is contained in the optimum.

Hence, an optimum that occurs as a corner solution includes only one good.

<em>For instance, Tracy saying she wouldn't buy a XYZ phone for any price, or Sarah saying she would visit a museum no matter how much it will cost her are some examples of corner solution. </em>

4 0
3 years ago
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