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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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Tom sells his father's watch for $100 to sue. he later finds out from his father that the watch was an expensive rolex. tom want
Daniel [21]

The court would rule in sue's favor because courts seldom inquire into the adequacy of consideration.

In contracts, <em>consideration </em>just means the <em>exchange of things of value</em>. There has to be an exchange of things of value for there to be an enforceable contract, and in this case a watch was exchanged for money. It is rare for courts to rule on how much consideration is expected because people are generally free to set their own prices and not sell if the price is too low. That is not for a court to decide (in most cases).

8 0
3 years ago
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received
Olegator [25]

Answer:

The after-tax cost is $23,940

Explanation:

For computing the after-tax cost, first we have to compute the present value which is shown below:

Present value = Bill payment × marginal tax rate

                       = $38,000 × 37%

                       = $14,060

So, after tax value would equal to

= Bill payment or Pre tax value - Present value

= $38,000 - $14,060

= $23,940

8 0
3 years ago
how does the IoT and Big Data currently play into your job, your organization and the industry? Are these two things connected a
emmainna [20.7K]

<u>Explanation:</u>

The term IoT is an acronym for 'Internet of Things' which refers to a modern technology that allows certain physical objects or “things” as we may call it to connect to the internet.

While Big Data refers not just to large data, but to an innovative field of technology that specializes in analyzing very large (big) data sets.

Consider the education industry, by means of IoT, it is possible for school management to effectively track their student's academic progress in real-time.

IoT and Big Data connected in the sense that, as these physical things (objects) communicate over the internet, a mass amount of data ("Big Data") is been generated which could then be analyzed using specialized software. In other words, they are mutually beneficial.

4 0
3 years ago
When optimizing your social media profiles, be sure to provide a consistent business description across all channels. Brainstorm
svlad2 [7]

Answer:

SEO-friendly

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Being SEO friendly is a quality that some web pages have that, due to their characteristics, are optimized from the SEO point of view, that is, they are easier to find and have a better web positioning.

These features cover different aspects from programming, through design, to the contents of the website, which get them to position themselves much better, with the increase in reputation, notoriety and presence on the network.

3 0
3 years ago
g 3) You are interested in purchasing an apartment complex for $2,000,000 that has Net Operating Income (NOI) of $120,000 and is
Paraphin [41]

Answer:

the cap rate is 6%

Explanation:

The computation of the cap rate is as follows:

= Net operating Income ÷ Current market value of property

= $120,000 ÷  $2,000,000

= .06

=  6%

Hence, the cap rate is 6%

We simply divided the net operating income from the Current market value of property so that the cap rate could come

4 0
3 years ago
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