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1 year ago

The primary focus of financial statement audits is the discovery of fraud. group startstrue or false

1 answer:

6 0

The goal of an audit of financial statements is to enable an auditor to specific an opinion as to whether or not the economic statements are prepared, in all material respects,

in accordance with International Financial Reporting Standards or another recognized financial reporting framework.

<h3>What is the primary motive of monetary statements?</h3>

This studying has presented an overview of economic statement analysis. Among the principal factors included are the following: The principal purpose of financial reports is to furnish records and records about a company's economic position and performance, consisting of profitability and cash flows.

Learn more about financial statement audits here:

<h3>brainly.com/question/20713734</h3><h3>#SPJ4</h3>

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3 years ago

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3 years ago

Cash $ 14,000 Accounts payable $ 42,000 Receivables 70,000 Other current liabilities 28,000 Inventories 210,000 Total CL $ 70,00

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Answer:

The ROE will increase by 7.69% to 14.29% from 7.5%

Explanation:

Current liabilities:

account payable 42,000

Other 28,000

Total Liabilities: 70,000

IF we want a current ratio of 2.3 then:

70,000 x 2.3 = 161,000 Current assets are needed.

Right now, the companny has 294,000 current assets so it will make inventories decrease by:

294,000 - 161,000 = 133,000

Then with that will purchase common stock:

280,000 - 133,000 = 147,000 common stock will be outstanding

The Return on equity will be:

21,000 / 147,000 = 0.142857 = 14.29%

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3 years ago

Orion would like to go on a trip to Ireland in two years. He wants to have $3,000 for the trip, so he is planning to invest mone

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The answer is: If Orion wants to have $3,000 in two years, he must invest $2,572.02 today

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To determine how much money Orion has to invest today in order to have $3,000 in two years, considering he will get an 8% compound interest rate, we can use this formula:

P = FV / (1 + r)²

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FV = $3,000
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3 years ago