1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Likurg_2 [28]
3 years ago
13

Aicpa auditing standards address the confirmation of accounts receivable for private company audits. what are the circumstances

under which confirmation of accounts receivable is not required
Business
1 answer:
alina1380 [7]3 years ago
4 0

Answer:

Confirmation of accounts receivables is not required when the account information is immaterial.

An account is said to have immaterial information when the account doesn't reflect any important or relevant information that can affect the opinions or decisions of shareholders, potential investors or creditors of the company.

The auditors have the responsibility of deciding what information is relevant and important and what is immaterial

You might be interested in
Your company has sales of $ 93,600 this year and cost of goods sold of $ 64,700. You forecast sales to increase to $ 117, 400 ne
Gre4nikov [31]

Answer:

COGS= $81,146.88

Explanation:

Giving the following information:

Your company has sales of $93,600 this year and the cost of goods sold of $64,700. You forecast sales to increase to $ 117, 400 next year.

First, we need to calculate the percentual participation of cost of goods sold:

%COGS= 64,700/93,600= 0.6912= 69.12%

<u>Now, using the same percentage, we calculate the cost of goods sold for the estimated new sales:</u>

COGS= 117,400*0.6912= $81,146.88

3 0
3 years ago
Janet is the secretary to the ceo. the ceo uses the corporate jet to travel to locations where he acts as a private consultant.
Sauron [17]

Janet is <u>a  "whistleblower".</u>


A whistleblower is a person, who could be a representative of an organization, or an administration office, unveiling data to people in general or some higher expert about any bad behavior, which could be as extortion, debasement, and so on.  

An whistleblower could be a representative, temporary worker, or a provider who winds up mindful of any unlawful exercises.  

To shield whistleblower from losing their activity or getting abused there are particular laws. Most organizations have a different arrangement which obviously states how to report such an occurrence.

7 0
3 years ago
Your cousin has asked you to bankroll his proposed business painting houses in the summer. He plans to operate the business for
Sonbull [250]

Answer:

the annual rate of return is 15.24%

Explanation:

The computation of the annual rate of return is shown below:

Given that

NPER = 5

PV = -$15,000

PMT = $4,500

FV = $0

The formula is shown below:

= RATE(NPER,PMT,-PV,FV,TYPE)

AFter applying the above formula, the annual rate of return is 15.24%

6 0
3 years ago
A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 50 per
katovenus [111]

Answer:

Explanation:

Forecast usage = 50 %

Actual Usage = 52%

smoothing constant = 0.10

⇒ 50 + 0.10 (52 - 50)

⇒ 50 + 0.10 (2)

⇒ 50 + 0.2 = 50.20

8 0
3 years ago
if the demand for a product is inelastic, which of these statements must be true? a)people will not buy any of the product when
Vanyuwa [196]
The statement that must be true about the demand for a product if it is inelastic is that, a price increase does not have a significant impact on buying habits. The correct answer would be option B. When the demand is inelastic, this situation means that the demand for a product does not decrease nor increase in corresponds to the rise or fall of its price.
3 0
3 years ago
Read 2 more answers
Other questions:
  • Exercise 24-3 Payback period computation; straight-line depreciation LO P1 A machine can be purchased for $140,000 and used for
    10·1 answer
  • You are Steve Jobs. Assess the organizational structure issues happening at Apple? Select one: a. A company that is already big
    14·1 answer
  • What are used to organize text and are identified by the bullet style , indentation, and the size of the text in power point?
    7·1 answer
  • ________ influences like motivation and learning and ________ influences like reference groups and culture impact a consumer's d
    11·2 answers
  • Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production
    10·1 answer
  • The ledger is __________. options: a group of accounts that records data from business transactions a tool used to make sure tha
    6·1 answer
  • Which one of the following measures the average amount of time that it takes to repair a system, application, or component?
    11·1 answer
  • Without _____, businesses would find it difficult, if not impossible, to buy more raw materials, hire more employees, attract mo
    6·1 answer
  • Which of the following tasks would most likely be the responsibility of middle management?
    9·1 answer
  • ABC Industries manufactured 2400 units of its product Huge in the month of April. It incurred a total cost of $132,000 during th
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!