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3 years ago

Which of the following is not a primary objective of the auditors in the examination of accounts receivable?

Business

1 answer:

navik [9.2K]3 years ago

3 0

Answer:

D. Determine the expected day of collection of each of the receivables.

Explanation:

An auditor's primary concern should be to verify the existence and size of the accounts receivable. The auditor should evaluate the suitability of the internal control systems for account receivable.

Determinating the expected day of collection for each receivable is good, but should not be the primary responsibility of an auditor handling accounts receivable. While accounts receivable is a function of the accounting department, the collection of debts is a role of credit control. Managing the level of credit and their due dates is not a function of the account receivable section. For this reason, examining the actual time of collection should be done when auditing the credit department.

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Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $

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3 years ago

You go to a local car lot and buy a used car as is. After you have driven only a few miles, the check-engine light flashes urgen

ArbitrLikvidat [17]

Answer:

ask the mechanic to document their findings

get a vehicle-history report online to look for evidence of odometer tampering

write a letter or email to the dealer, with copies of relevant documents

report the incident to the Better Business Bureau and your state attorney general

Explanation:

First of all, tampering the odometer is a federal crime. The first thing you need to do is gather evidence and go to the police. You can do this by asking your mechanic to document any alteration and looking for other evidence online also helps. E.g. if you buy a car that is 10 years old and the odometer records only 10,000 miles, you should be suspicious (plain common sense).

I doubt that writing an email works, but you could be lucky and get a favorable response from the dealer. Or more importantly, it can be used as evidence that the dealer was aware of the fraud and didn't do anything to correct it.

Reporting this incident to the Better Business Bureau can help prevent that other people are tricked by the dealer, but as soon as you have evidence of what happened you should report the crime.

6 0

3 years ago

Managing proactively instead of reactively is an example of which of the following

Alex73 [517]

Answer:

it is an example of minimizing the risk of business

Explanation:

There is a difference between managing proactively and creatively.

Managing creatively only carried out after the company experience some sort of bad circumstances. IT is used to fix the situation.

Managing proactively on the other hand is carried out on a regular basis, even before any bad circumstances happen. This type of management will prevent the company in experiencing unnecessary damage and will be beneficial for the company in the. long run, This will minimize the risk that might occur to the company.

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4 years ago

Read 2 more answers

A television network decides to run a series of news stories highlighting the need for stronger regulations over gun sales and

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This is an example of.... Libtards... I mean the Democratic system that’s running&ruining this country.

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3 years ago

Suppose you consider buying a bond promising to pay you $25 one year from now and then the same amount every year through the fi

Archy [21]

Answer:

$3,667.44

Explanation:

The amount you would be willing to pay today can be determined by finding the present value of the cash flows

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow each year from year 1 to 4 = $25

Cash flow in year 5 = $25 + $5000

I = 7%

Present value = $3,667.44

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

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3 years ago