Answer:
The correct option is d.
Explanation:
It is given that $15,000 is considered to be material to the income statement, but $25,000 is material to the balance sheet.
Material to the income statement = $15,000
Material to the balance sheet = $25000
The auditor should set overall materiality according to the income statement.
The auditor should set overall materiality at $15,000.
Therefore the correct option is d.
Answer:
<u>True.</u>
Explanation:
This statement is true. In Kenya there is a system called M-PESA, which can be defined as a more developed payment system worldwide, this system acts as a tool that allows payments and purchases to be made via cell phone.
This system revolutionized the lives of the citizens of that region, due to the ease of being able to carry out commercial transactions and manage their money without needing a bank.
D for sure is the correct answer
Answer:
The main difference between a generic market and a product-market is that: a generic-market involves a less similar set of needs than does a product-market. A basic difference between a "generic market" and a "product-market" is: how similar the competing sellers' products are.
Explanation:
Answer:
$62,750
Explanation:
The computation of budgeted net income is shown below:-
Budgeted income = (Contribution Margin × Units produced and sold ÷ Units) - Manufacturing costs - Selling and administrative costs
= ($118,800 × 25,000 ÷ 27,000) - $29,700 - $17,550
= $110,000 - $29,700 - $17,550
= $62,750
Therefore for computing the Budgeted income we simply applied the above formula.
