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Tomtit [17]
3 years ago
14

When engaged to compile the financial statements of a nonissuer, an accountant should possess a level of knowledge of the entity

’s accounting principles and practices. This most likely will include obtaining a general understanding of the
A. Risk factors relating to misstatements arising from illegal acts. B. Design of the entity's internal controls that have been implemented. C. Stated qualifications of the entity's accounting personnel. D. Internal control awareness of the entity's senior management.
Business
1 answer:
NeTakaya3 years ago
7 0

Answer:

C. Stated qualifications of the entity's accounting personnel

Explanation:

According to my research of the steps that are usually taken when compiling the financial statements of a non-issuer, it can be said that the accountant should know the stated qualifications of the entity's accounting personnel. This is because they should know what the qualification are of the accountant that initially made all the financial statements to see if they actually knew what they were doing.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Forecast the 2019 Cost of goods sold on the previous year’s number and the assumptions
AleksAgata [21]

The cost of goods sold based on the sales revenue in 2019 is $32,400

What is the cost of goods sold?

The cost of goods sold is the cost of the goods sold in a particular year, it is determine as the sales revenue minus the gross margin in dollar terms.

We need to first of all determine the sales revenue in 2019 based on 2018 sales revenue and the 2019 growth rate of 8%

2019 sales revenue=50,000*(1+8%)

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Now the gross margin is 40% of sales revenue

cost of goods sold=sales revenue-gross margin

cost of goods sold=$54,000-(40%*$54,000)

cost of goods sold=$32,400

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3 0
2 years ago
If goods are sold on terms fob shipping point, the ________.
dsp73
<span>Buyer normally pays the transportation costs</span>
8 0
3 years ago
In practice, a common way to value a share of stock when a company pays dividends is to value the dividends over the next five y
svlad2 [7]

Answer:

Stock Price in 5 years: $97.94. Stock Price Today: $55.575

Explanation:

A pay-out ratio is computed by dividing dividends per share over earnings per share. Meanwhile, PE or Price-Earnings Ratio is computed by dividing the market value of stocks over earnings per share. Thus, using the pay-out ratio formula, the earnings per share is 2.925 ($1.17/40%) and using the PE ratio formula, the market price of stocks today is $55.575 (19 x 2.925). After 5 years, multiplying 1.17 and 12% rate raised to the 5th power, the dividend will amount to $5.1548. Using pay-out ratio, earnings per share is 5.1548 ($2.0619/40%) and the market price of stock after 5 years is $97.94 ($5.1548 x 19).

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3 years ago
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