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2 years ago

The document that details the specific audit procedures for each type of test is the?

Business

1 answer:

solniwko [45]2 years ago

6 0

The document that details the specific audit procedures for each type of test is the audit program.

The procedures that auditors follow in order to gather enough relevant audit evidence to make a professional judgment about the efficacy of an organization's internal controls.

To determine if transactions were appropriately categorized in the accounting records, audit techniques are utilized. For instance, it is possible to check purchase records for fixed assets to determine whether they were properly categorized into the appropriate fixed asset account.

To check if transactions have been recorded during the appropriate reporting period, audit processes are utilized. For instance, the shipping log can be examined to determine whether shipments to clients on the final day of the month were properly documented.

Learn more about audits here:

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Which of the following statements is false about the order in which management determines the sequencing of support department a

GaryK [48]

Answer: A. Departments with more employees are allocated earlier.

Explanation:

In the sequential method, it should be noted that a company allocates the service costs one department at a time. Once the service department cost is allocated by the accountants, the department won't get any other costs from the other service departments.

The statement that is false about the order in which management determines the sequencing of support department allocations under the sequential method of allocating support department costs to production departments is that the departments with more employees are allocated earlier.

Under the sequential method, the department costs that are allocated earlier include having an accurate cost drivers, having a higher cost, or having a large number of support.

4 0

2 years ago

If accounts receivable and inventories increased by $85,000 (total), accounts payable increased by $14,000, and depreciation add

scoundrel [369]

Answer:

We can't define the firm's net income without additional information as either (1) or (2):

1) Revenues/ all income, and all expenses

2) Operating cash-flow together with interest expense, and tax rate

Explanation:

If we can have the operating cash-flow, then we can define EBIT (profit/ earnings before tax and interest) as below:

Operating cash-flow = EBIT + depreciation - increase of accounts receivable and inventories + increase of accounts payable.

Assuming Operating cash-flow is $100,000 then we have:

EBIT = $100,000 + $64,000 - $85,000 + $14,000 = $93,000

Assuming the firm have no interest expense and tax rate is 35%, then net profit = EBIT*(1- tax rate) = $93,000 * (1-35%) = $60,450

6 0

3 years ago

What is your opinion on traditional directed government benefits versus<br> universal income?

Elodia [21]

Answer:

I believe that a form of universal income would be a better policy than the traditional directed government benefits or welfare.

Explanation:

This is because the idea of the universal income would be to replace the welfare programs, by giving people a reasonable amount of money so that they can decide by themselves in what utilities or amenities to spend that money.

Programs with poor incentives like food stamps, or inefficiently run public-programs, could be replaced by universal income without causing harm to ther beneficiaries, and possibly even generating more benefit.

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2 years ago

Which of the following would not be counted in the calculation of GDP? Choose one or more: A. paying for a local garage to rotat

alex41 [277]

Answer:

Correct options are: (D), (E), (F).

Explanation:

Since the dog seller does not pay taxes, he is evading tax and is therefore conducting illegal transactions. Illegal transactions are excluded from GDP.

Mowing the law does not have an imputed market value and is excluded from GDP.

Government spending on food stamps is a transfer payment since no value gets added in return, therefore is excluded.

5 0

3 years ago

Paul, the Director of Recruitment at an insurance company, finds that the company has a disparate impact on the proportion of Hi

melomori [17]

Answer: c) He should start advertising for job openings on the local Spanish radio station.

Explanation:

This realization by Paul should make him want to hire more Hispanics into the company and the best way to do so would be to advertise it in such a way that Hispanics have a better chance of hearing about job openings.

Advertising on Spanish radio would ensure that Hispanics hear the advertisements because they are the main ethnicity that speaks Spanish. This will give them an edge in learning about job openings and enable Paul to hire more Hispanics.

5 0

3 years ago