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1 year ago

Identify a recent business trend that could be contributing to the increased number of collusive frauds.

1 answer:

4 0

Supplier alliances are occurring more frequently, and suppliers and customers are getting to know one another better.

Fraud Collusion Dangers.

The standard acknowledges the dangers of collusion as well as the increased risk for the auditor in expressing an incorrect opinion, or "audit failure."

The issues with asset misappropriation and financial statement misstatement are brought up by the amended standard for auditors to consider.

Employees, suppliers, customers, and other parties must enlist the help of their co-conspirators in the first type of fraud, or at the very least work together to plan it. This is not a simple task, as it will be discussed below; in an asset theft scheme, coordination and recruitment demand a certain level of risk from the participants.

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How are dividends and dividends payable reported in the financial statements prepared at december 31

Agata [3.3K]

Answer:

1. Dividends are deducted from the Statement of Retained Earnings as dividend expenses.

2. Dividends payable are reported in the Balance Sheet as current liabilities.

Explanation:

Dividends are distributions to the shareholders from earnings (income) after all expenses and taxes have been deducted from the revenue for the period. Dividends payable are unpaid dividends, which are reported as current liabilities until they are paid for in the next accounting period.

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3 years ago

How much are these nails<br> have an estimate?

patriot [66]

If I had to guess I would have to say ( based on the design ) they would be around $35-$50.

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3 years ago

Concord Corporation reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw mate

jek_recluse [69]

Answer:

Concord Corporation's cost of goods manufactured for the year is $2,490,000

Explanation:

For computing the cost of goods manufactured, we have to use the formula which is given below:

= Opening Work in progress inventory + Direct material used + direct labor + manufacturing overhead - ending work in progress inventory

In the given question, the direct material used is not given, so we have to compute it. The formula is given below:

= Opening balance of raw material inventory + Purchase of raw material - ending balance of raw material inventory

= $300,000 + $930,000 - $480,000

= $750,000

And, the other values will remain the same.

So, the answer would be equal to

= $1,080,000 + $750,000 + $870,000 + $690,000 - $900,000

= $2,490,000

Hence, Concord Corporation's cost of goods manufactured for the year is $2,490,000

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4 years ago

Chet Bowes owns his own landscaping business, including all the land on which the company grows its plants, and all the equipmen

aliya0001 [1]

Answer:

Inheritance

Explanation:

The above question highlights example of inheritance. Whenever the ownership of business is transferred from one generation to another, it can be taken as an example of inheritance in a capitalist system.

The same has happened in the above question as well. Chet Bowes who owned his own lanscapped business has now transferred the ownership to his son Josh who has recently taken charge, now it is very much clear from the question neither Josh built the company on his own now was hired on the basis of his capabilities, the transfer happened on the basis of his relationship with the owner of the company. The question shows an example of inheritance.

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3 years ago

1. What is resistance?<br>utor effect of fricti

mario62 [17]

Answer:

The description of the given question is explained throughout the section below.

Explanation:

The value of the property seems to be under competition from increasing numbers of marketers who'd like to acquire at around that price, the property's amount is increasing, which is defined as resistance.
Its positions can sometimes be short-lasting if the fresh result of developments that influence the perceptions of such mainstream economy forward towards the commodity.

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3 years ago