A ________ is used to accumulate the costs of a job.

The auditors' responsibility to communicate findings with respect to fraud can best be summarized as:

Ivahew [28]

The auditors' responsibility to communicate findings with respect to fraud can best be summarized as: Communicate to the audit committee both material and immaterial amounts of fraud that are detected. This is further explained below.

<h3>What is auditors?</h3>

Generally, An auditor is a person qualified to examine financial documents, confirm their correctness, and make sure businesses are following tax regulations.

In conclusion, the Auditors' duty to report fraud-related discoveries is summed up as follows. Any identified fraud, no matter how little, should be reported to the audit committee.

Read more about auditors

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4 0

2 years ago

Which statement would not be a way for the government to reduce the national debt?

Anastasy [175]

Answer:

Increasing government spending in the form of infrastructure and welfare

Explanation:

In order to reduce the national debt, the government need to take a conscious measure to use the government budget as little as possible.

Investment in infrastructures (such as military bases,. building new roads or parks) and government programs (such as expensive healthcare or government funded jobs) tend to take a large amount from the government budget. This will most likely resulted in the increase of national debt.

7 0

4 years ago

Durango, Inc. purchased a parcel of land for $450,000. It paid attorney fees of $3,000 to verify title to the land. In addition,

Crank

Answer:

D. $460,500

Explanation:

Given that

Cost of parcel of land = 450000

Legal fees = 3000

Broker's fees = 7500

Therefore,

Amount recorded as cost of parcel of land is

Cost of parcel of land + legal fees + brokers fee

= 450000 + 3000 + 7500

= $460,500

When purchasing land, fees like commissions, legal fees, bank fees, title fees and other expenses added before the land can be used are considered as part of the land's cost. Hence the answer.

8 0

3 years ago

Read 2 more answers

. The current spot exchange rate is $1.50/€ and the three-month forward rate is $1.55/€. Based on your analysis of the exchange

Andre45 [30]

Answer:

B) Buy €1,000,000 forward for $1.55/€.

Explanation:

To calculate the expected profit consider the following data and formula:

Amount in actions: 1.000.000

Spot exchange rate: 1.62

Three month forward calculation: 1.55

Expected profit=1,000, 000 *( 1.62 - 1.55) = 70,000.00.

6 0

4 years ago

Luxx Inc. currently has assets to $5 million, zero debt, is in the 40 percent federal- plus-state tax bracket, has a net income

kakasveta [241]

Answer: a.)$25 ; b.) $30.96

Explanation:

A.) Stock's current price per share:

Net income = $1,000,000

Dividend paid = 0.40 x $1,000,000 = $400,000

Dividend per share before recapitalization = $400,000 / 200,000 = $2

Price of the share before recapitalization is calculated as:

D1 = $2 × 1.05 = $2.10

P0 = D1/Ke - g

= $2.10/ 0.134 - 0.05

= $25

B.) Portion of equity after recapitalization = (200, 000 x $25) - $1,000,000 = $4,000,000

Portion of debt = $1,000,000

Revised WACC after recapitalization = Ke x E/V + Kd(1-t) x D/V

= 0.145 x $4,000,000/$5,000,000 + 0.11 x (1-0.40) x $1,000,000/$5,000,000

= 0.1292

= 12.92%

Revised net income is calculated as:

Before tax income = $1,000,000/0.60 = $5M

Interest = 0.11 x $1,000,000 = $110,000

Earning before tax = $1556666

40% of tax = $622,666.4

Net income = $933,999.60

Revised dividend = $933,999.60 x 0.40 = $373599.84

DPS = $373599.84/(200,000 - ($1,000,000/$25))

$373599.84/160,000

= $2.335

Revised price of the share after recapitalization:

$2.335 x 1.05 / 0.1292 - 0.05

2.45175 / 0.0792

= $30.96

8 0

3 years ago