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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.

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You are caring for a 69-year-old man with congestive heart failure. His breathing is profoundly labored, his oxygen saturation r
sertanlavr [38]

Answer:

B)

Explanation:

Based on the information provided within the question it can be said that in this scenario you should preoxygenate him with a bag-mask device and then perform blind nasotracheal intubation. This is the process of placing oxygen tubes into the individuals nasal track and down the throat to allow better airflow.

7 0
3 years ago
Insurance protects you from associated risks, Match each scenario to the insurance
den301095 [7]

Matching each scenario to the insurance needed for protection.

  • Tyrell's son has leukemia and will need cancer  medications- Health insurance.

  • Someone broke into Maria's house and stole her flat screen TV and other values-  Homeowners insurance.

  • Don wants to make sure his family has enough money to pay off the house if he dies- Life insurance.

  • Jill broke both of her legs in a skiing accident. She will be out of work for several months while she recovers from her injuries- Disability insurance.

  • Due to careless driving, Lisa hit another car and hurt the passengers inside-  Liability insurance.

<h3>What is insurance?</h3>

Insurance can be defined as a coverage that help to cover cost or expenses in case of unforeseen or unexpected circumstances such as:

  • Accident
  • Fire
  • Theft etc.

Therefore Tyrell's son has leukemia and will need cancer  medications- Health insurance.

Learn more about insurance here:brainly.com/question/25855858

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8 0
2 years ago
PLZZ extra points and brainlist
MrRissso [65]

Answer:

product drugs

Explanation:

can mess you up mentally and is bad for you and is banned to use and the more you use it the more you will be addicted

7 0
3 years ago
During Burns Company's first year of operations, credit sales totaled $166,000 and collections on credit sales totaled $118,000.
marusya05 [52]

Answer:

1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense.

1  

Db Bad debt expense_______ 3320  

Cr Allowance for bad debt_________________  3320

 

2  

Db Allowance for  bad debt__ 430  

Cr Account Recevaible_____________________  430

2. Show the year-end balance sheet presentation for accounts receivable.

Account receivable__________47570  

Net account receivable_______44250

Explanation:

Credit sales 166000  

Credir sales 118000  

 

Bad debt losses 2%  

 

Writte off 430  

 

Allowance 3320  

 

 

1  

Db Bad debt expense_______ 3320  

Cr Allowance for bad debt_________________  3320

 

2  

Db Allowance for  bad debt__ 430  

Cr Account Recevaible_____________________  430

 

 

Year end balance___________48000  

Cr Account Recevaible_________430  

Account receivable__________47570  

Allownace for bad debts_______3320  

Net account receivable_______44250  

5 0
3 years ago
Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost.
natita [175]

Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost   True

What is a perfect competitive firm?

A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales.

What is the advantage of perfect competition?

Markets experiencing perfect competition have very low barriers to entry. The advantage is for both customers and the total industry. There will be new entrants in the market which brings healthy competition to the industry. Also, consumers will not be a risk when a few companies get together and increase their prices.

What is monopolistic competition:

Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. The barriers to entry in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect its competitors.

What is monopolistic competition characteristics?

Monopolistically competitive markets have the following characteristics: There are many producers and many consumers in the market, and no business has total control over the market price. Consumers perceive that there are non-price differences among the competitors' products.

Learn more perfectly competition and monopolistic competetion:

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6 0
1 year ago
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