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xxMikexx [17]
3 years ago
7

An auditor observed that a client mails monthly statements to customers. Subsequently, the auditor reviewed evidence of follow-u

p on the errors reported by the customers. This test of controls was most likely performed to support management's financial statement assertion(s) of
Classification and understandability
rights and obligations

A. Yes Yes
B. Yes No
C. No Yes
D. No No
Business
1 answer:
mash [69]3 years ago
4 0

Answer:

C. No Yes

Explanation:

Classification and understand-ability = NO

rights and obligations= YES

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The balance sheet of Cattleman's Steakhouse shows assets of $85,900 and liabilities of $13,500. The fair value of the assets is
cestrela7 [59]

Answer:

$7,120

Explanation:

Given that,

Assets = $85,900

Liabilities = $13,500

Fair value of assets = $90,500

Fair value of its liabilities = $13,500

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Net assets:

= Fair value of assets - Fair value of its liabilities

= $90,500 - $13,500

= $77,000

Goodwill = Purchase consideration - Net assets

               = $84,120 - $77,000

               = $7,120

8 0
3 years ago
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Answer: A) Business.

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2 years ago
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ikadub [295]

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3 years ago
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