Answer:enter into the strategic marketing process
Explanation:
In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.
<h3>
What is Independence in this case?</h3>
The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.
Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.
Learn more about internal control:
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Full Question:
Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?
A) Tell his superiors as soon as he has decided whether or not to accept the offer.
B) Remove himself from the engagement as he considers the offer.
C) Pray for divine guidance.
D) If he decides to reject the offer, remove himself permanently from the engagement.
Answer:
A.$130
B. $13,130
Explanation:
Loan taken at the beginning of april in order to maintain cash balance of $40,000 = $40,000 - $27,200 = $12,800 = $13,000 (Increment of $1,000)
Interest payment estimated for april = $13,000*12%*1/12 = $130
Solution b:
Cash balance at the end of april = $27,200 + $13,000 - $130 = $40,070
Cash balance at the end of may before financing effect = Cash balance at the beginning + Excess of cash collected over cash payments
= $40,070 + $31,200 = $71,270
Total financin effect for may = Loan repayment + Interest repayment = $13,000 + $13,000*12%*1/12 = $13,130
Answer:
Their income after 20 years would be 72,550 dollars.
Explanation:
The income after 20 years can easily de determin by using compounding
formula
Future Value = Present Value (1 + I)^ 20
= 90,000 (1 + 0.03)^ 20
= 162,550 dollars
Income can be determing by subtracting Pv from Fv i.e
Income = 162,550 - 90,000 = 72,550
Calculation on excel sheet
A B C D
1 90,000 1.03 = A1 * 1.03 = C1-A1
2 = D1 1.03 = A2 * 1.03 = C2-A2
20 = D19 1.03 = A20 * 1.03 = A20 - C20
* In work sheet colunm D will show income on investment.
Answer:
The message should be brief and indirectly imply the refusal.
Explanation:
When refusing an applicant's request; it's standard practice to be polite and brief. Less words are very much commendable, to avoid emotion. Also, communication should be positive and respectful.
