Answers;
In scrutinizing a statement of cash flows in an attempt to gain a better understanding of the client, the auditor should evaluate to check if the client is meeting interest payments when they are due. The auditor may use information about the client's industry. This is done to evaluate whether significant changes is made in the company from prior periods, including changes in its internal control over financial reporting, affect the risks of material misstatement.
Answer:
B. The difference between sales revenues and the costs associated with those sales
Explanation:
The amount of profit made by the company after deducting the total costs which have been incurred in the making and the selling of the product is said to be gross profit. The gross profit is calculated by subtracting the amount of revenue and the cost of the goods sold. Fixed cost is not included in the gross profit. It includes only variable costs.
Answer:
Date Accounts Titles Debit Credit
Dec-31 Salaries expense $2,300
Salaries payable $2,300
Dec-31 Depreciation expense $200
(Furniture
)
Accumulated depreciation $200
(Furniture)
Dec-31 Insurance expense $450
Prepaid Insurance $450
Dec-31 Supplies expense $80
Supplies $80
Answer:
The answer is: $3,289
Explanation:
<u>Date</u> <u>Units </u> <u>Unit price</u> <u>Inventory</u> <u>Average cost</u>
Purchases
Nov. 1 103 units $20 per unit $2,060 $20 per unit
Nov. 5 103 units $22 per unit $4,326 $21 per unit
Nov. 8 53 units $23 per unit $5,545 $21.41 per unit
<u>Nov. 19 30 units $25 per unit $6,295 $21.78 per unit</u>
TOTAL 289 units $21.78 per unit $6,295 $21.78 per unit
Sales
Nov. 16 -138 units $21.78 per unit $3,006 $21.78 per unit
Ending inventory
Nov. 30 151 units $21.78 per unit $3,289 $21.78 per unit
If the demand for steak (a normal good) shifts to the left, the most likely reason is that consumer income has fallen.
<h3>What is a normal good?</h3>
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls.
The demand curve shows the relationship between price and quantity demanded. A shift to the left of the demand curve indicates that demand has decreased.
To learn more about normal goods, please check: brainly.com/question/2934596
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