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Yuri [45]
1 year ago
13

Ordinarily, which is the most significant audit objective and primary risk area for auditors in the examination of accounts paya

ble?
Business
1 answer:
Kisachek [45]1 year ago
8 0

Ordinarily, the most significant audit objective and primary risk area for auditors in the examination of accounts payable is:

Audit Objective: Completeness is the main goal of the accounts payable audit. Completeness suggests that the payable won't receive any significant future additions. Accounts payable are a significant source of operating cash flows in the drug wholesale industry because inventory turnover is very high.

Primary Risk Area:

1) Intentionally understated are expenses and accounts payable.

2) There are payments made to unsuitable vendors.

3 )Payments are made twice to vendors.

#SPJ4

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Answer:

B. $9,957.

Explanation:

The computation is adjusted amount for Uncollectible account expense is shown below:

= The estimated total uncollectible accounts + debit balance of Allowance for uncollectible accounts

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For computing the adjusted amount we added the estimated total uncollectible accounts and the debit balance of Allowance for uncollectible accounts

8 0
3 years ago
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Explanation:

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6 0
3 years ago
The depreciation deduction for year 11 of an asset with a 20-year useful life is $4,000. If the salvage value of the asset was e
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Answer:

The answer is $80,000

Explanation:

The formula for straight-line depreciation is:

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$4,000 = y ÷ 20 years

y is $4,000 x 20 years

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7 0
2 years ago
A gourmet coffee shop in downtown San Francisco is open 200 days a year and sells an average of 76 pounds of Kona coffee beans a
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Answer:

Explanation:

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6 0
3 years ago
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Answer:

e. Project X has both a higher present value and a higher future value than Project Y.

Explanation:

The project X cash flows are higher in initial years than of project Y. The present value of project X cash flows will be greater than project Y. The time value of money of project X will be greater than Project Y.

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2 years ago
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