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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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Acme, Inc., which manufactures the fireworks that municipal governments buy to put on their annual fireworks shows on the Fourth

kap26 [50]

Answer:

Reshoring.

Explanation:

Reshoring is the process of returning the production and manufacturing of goods back to the company's original country. Reshoring is also known as onshoring, inshoring or backshoring.

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2 years ago

Following are the transactions of a new company called Pose-for-Pics.Aug. 1 Madison Harris, the owner, invested $8,000 cash and

Rama09 [41]

Answer:

Aug 1

Dr cash $8,000

Dr photography equipment $34,400

Cr Common Stock $42,400

Aug 2

Dr Prepaid Insurance $3,000

Cr Cash$3,000

Aug 5

Dr Office supplies $1,520

Cr Cash$1,520

Aug 29

Dr Cash $4,000

Dr photography fees earned $4,000

Aug31

Dr Utilities expense $884

Cr Cash $884

Explanation:

Preparation of the general journal entries for the above transactions.

Aug 1

Dr cash $8,000

Dr photography equipment $34,400

Cr Common Stock $42,400

(8,000+34,400)

Aug 2

Dr Prepaid Insurance $3,000

Cr Cash$3,000

Aug 5

Dr Office supplies $1,520

Cr Cash$1,520

Aug 29

Dr Cash $4,000

Dr photography fees earned $4,000

Aug31

Dr Utilities expense $884

Cr Cash $884

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3 years ago

You and your spouse are in good health and have reasonably secure jobs. Each of you makes about $25,000 annually. You own a home

saveliy_v [14]

Answer:

$88,150

Explanation:

DINK method for insurance sums one half of all the debt plus funeral expenses. Thus,

Using DINK method

One half of mortgage, 140,000 = 70000

One half of car loan, 14000 = 7000

One half of personal debts, 4800 = 2400

One half of credit card loans, 3500 = 1750

Funeral expenses = 7000

Thus

Total insurance needed =

70000 + 7000 +2400 + 1750 + 7000

= $88,150

Note that, when using DINK method, what the spouse earn isn't used in calculating total insurance.

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3 years ago

The wet dog surf company borrows $32,000 for 4 months and will pay $1,120.00 interest . calculate wet dog's annual percentage in

Hunter-Best [27]

The formula is
I=prt
I interest paid 1120
p principle 32000
T time 4/12
R annual percentage interest rate?
Solve for r
R=I÷pt
R=1,120÷(32,000×(4÷12))
R=0.105×100
R=10.5%

6 0

3 years ago

Read 2 more answers

Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other heal

Diano4ka-milaya [45]

hospital indemnity

A supplemental insurance policy called hospital indemnity coverage is created to cover expenses associated with hospital admittance that might not be reimbursed by other insurance. Workers who are admitted to a clinic or intensive care unit for a covered illness or injury are covered by the plan. Additionally, it is accessible to businesses with as little as two employees.

Since the majority of Americans don't have enough resources to pay for unforeseen medical costs, hospital indemnity coverage can be very useful.1 The plan provides cash directly to workers even if they don't have any out-of-pocket costs. The funds can be used for anything, including: medical copays, deductibles, and ongoing costs like rent, food, and utilities.

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2 years ago