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lorasvet [3.4K]
3 years ago
12

An audit plan of substantive procedures for cash would not includeA. request a cutoff bank statement be mailed to the client. B.

request client to prepare bank reconciliations. C. prepare a schedule of interbank transfers for a period of ten business days before and after year-end date.D. obtain a written client representation concerning compensating balance agreements.
Business
1 answer:
faltersainse [42]3 years ago
5 0

Answer:

The correct answer is option A.

Explanation:

Substantive is a type of auditing procedure. It involves the process of examining financial statements and other related documents to  check for error.

These tests are conducted to ensure that the financial records are complete and correct.

These procedures are conducted by an auditor and include examining journal entering, testing account balances and transactions.

Though it does not include requesting a cut off bank statement to be mailed to the client.

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Answer: a)

Explanation: All the others are deductible, whilst excise taxes are only deductible as a business expense.

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The best way to limit competition is to: Choose one: A. control a resource that is essential in the production process. B. lobby
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Answer:

A. control a resource that is essential in the production process.

Explanation:

When the crucial resource is required to make a product, then the restrictions on such resource would not allow, many people to enter in such business.

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As the cost of production will increase only producers with a high budget and resources in terms of finance will chose it.

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3 years ago
Marla would like to collect $225,000 to buy a house in 12 years. She thinks she can save money in a money-market account earning
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Answer:

The value of Q = $10,723

Explanation:

Please find attached.

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3 years ago
Starr Company reports the following information for August. Raw materials purchased on account $ 76,200 Direct materials used in
il63 [147K]

Answer:

1. Raw materials purchased.

Raw Materials Account $ 76,200 (debit)

Account Payable $ 76,200 (credit)

2. Direct materials used in production.

Work In Progress Account $48,000 (debit)

Raw Materials Account $48,000 (credit)

3. Direct labor used in production.

Work In Progress Account $15,350 (debit)

Wages and Salaries $15,350 (credit)

4. Applied overhead.

Work In Progress Account $18,360 (debit)

Manufacturing Overhead Account $18,360 (credit)

Explanation:

1. Raw materials purchased.

Raw Materials Account $ 76,200 (debit)

Account Payable $ 76,200 (credit)

Recognise the Assets of Raw Materials and a Liability - Account Receivable

2. Direct materials used in production.

Work In Progress Account $48,000 (debit)

Raw Materials Account $48,000 (credit)

De-recognise the Raw Materials used in production and recognise the cost in Work In Progress Account

3. Direct labor used in production.

Work In Progress Account $15,350 (debit)

Wages and Salaries $15,350 (credit)

Recognise the labor cost in Work In Progress Account and de-recognise the Wages and Salaries Account with the amount applied to production

4. Applied overhead.

Work In Progress Account $18,360 (debit)

Manufacturing Overhead Account $18,360 (credit)

De-recognise the Manufacturing Overheads used in production and recognise the cost in Work In Progress Account

4 0
3 years ago
A purchased limited-life intangible asset ________ amortized and is impairment tested using ________. (a)is; the recoverability
Pani-rosa [81]

Answer: Option A

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