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
pickupchik [31]
3 years ago
7

According to AU-C 315, Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement, not all co

ntrols are relevant to a financial statement audit. Which one of the following would most likely be considered in an audit?
A. Timely reporting and review of quality control results.
B. Maintenance of control over unused checks.
C. Maintenance of statistical production analyses.
D. Marketing analysis of sales generated by advertising projects.
Business
1 answer:
ankoles [38]3 years ago
5 0

Answer:

The correct answer is B. Maintenance of control over unused checks.

Explanation:

Risk of material misstatement is the risk that the financial statements contain material misstatements prior to the performance of the audit. The risk comprises two components, described as follows, in the statements:

Inherent risk - Susceptibility of a statement about a type of transaction, accounting balance or other disclosure of information to a misstatement that could be material, either individually or in aggregate with other inaccuracies, before taking into account the possible corresponding controls.

Control risk - Risk that an error that could exist in a statement about a type of transaction, accounting balance or other information relief, and that could be material either individually or in aggregate with other inaccuracies, is not prevented, or detected and corrected in a timely manner, by the entity's internal control system.

You might be interested in
Imagine you work as a project manager for a bridge building company. The city has chosen your company to complete a new bridge t
ololo11 [35]

When meeting with your team members to discuss your bridge construction project schedule, the listening style that will help you achieve your goals is the time-oriented style.

<h3 /><h3>Listening styles</h3>

Four listening styles were developed by Barker (1971) and Watson (1995) that should be used according to the individuals' purposes. Are they:

  • People oriented
  • Content oriented
  • Action oriented
  • Time oriented

Therefore, as there has been a change in the schedule with the shortening of the deadline for the completion of the bridge, it is necessary that the time-oriented listening style will assist in the development of the best strategy for meeting the deadline.

In this style of listening, the focus is on time management, in search of objective and quick answers that go straight to the point and generate faster processes.

Find out more information about listening styles here:

brainly.com/question/10237797

8 0
3 years ago
5. Explain what would happen to interest rates if a new process was developed that allowed automobiles to run off oil that was f
guapka [62]

Answer:

When the new processes are developed for manufacturing it results in interest rate fluctuations. However, operational costs would become uncertain which would further affect the total production costs. Thus the value of an investment would be impacted. Automobile demand from the customers will also get affected. thus, fall in interest rate will have a significant and positive affect on the sale of automobiles as well as revenue.

8 0
3 years ago
Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000
dexar [7]

Answer:

Fixed Cost = $10,000

Variable Costs = $90,000

Explanation:

Variable Cost per unit = $72,000 ÷ 12,000

                                      = $6

Variable Costs at 15,000 units = $6 x 15,000

                                                   = $90,000

Fixed Cost (given) = $10,000

8 0
3 years ago
Which statement best describes the variety of workplaces commonly found in the Health Science career cluster? A. Workplaces in t
Mars2501 [29]

People who work in Health Science career clusters can expect a career that deals with promoting health to treating diseases. Some examples of professions in this cluster include dietitians, neurologists, and biomedical engineers. With a wide variety of professions that are included in this cluster, the workplaces where these individuals can work are also equally as diverse.

Thus, the best answer for the question is (C) workplaces in this cluster include nonprofit hospitals, government-run clinics, and private physicians' offices.

8 0
3 years ago
Read 2 more answers
A bond portfolio and a stock portfolio both provided an unrealized pretax return of 8% to a taxable investor. If the stocks paid
tankabanditka [31]

Answer:

A bond portfolio and a stock portfolio both provided an unrealized pretax return of 8% to a taxable investor. If the stocks paid no dividends, we know that the ________.

The after-tax return of the stock portfolio was higher than the after-tax return of the bond portfolio.

Explanation:

The returns from the bond portfolio are taxed at the corporate rate while returns from stock investments are taxed at a lower rate.  It is well-known that the risks from stock are higher than the risks from bonds.  As a result, the stock investments always attract higher returns and less tax, as the investor can postpone the tax for a longer term.   Again, stock investments can be for the long-term unlike bonds that have defined periods.

7 0
4 years ago
Other questions:
  • A child whose therapist asks him to draw pictures about his life and then introduces games and stories to help the child work th
    13·1 answer
  • Oceanview marine company performance materiality question
    5·1 answer
  • Which of the following are requirements for product manufacturing?
    6·1 answer
  • How to report nominal logistic regression in papers?
    8·1 answer
  • Cost behavior ______. categorizes costs as fixed, mixed and variable is a detailed analysis technique used to determine whether
    11·1 answer
  • Sales representatives are often compensated, at least in part, on a percentage of the sales revenue. this percentage is known as
    9·1 answer
  • List the advantages and disadvantages of regulation and deregulation
    13·1 answer
  • The following information was available for Pina Colada Corp. at December 31, 2022:
    12·1 answer
  • Lauren could tell something was not right. She has always thought that sales representatives were always pleasant to the custome
    10·1 answer
  • Brief Exercise 229 Iverson Company purchased a delivery truck for $45,000 on January 1, 2020. The truck was assigned an estimate
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!