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Bezzdna [24]
4 years ago
13

If mistakes or fraudulent reporting behavior are discovered, auditors require the company to correct all significant information

before issuing financial statements.
TRUE or FALSE.
Business
1 answer:
stepladder [879]4 years ago
6 0

Answer:

The correct answer is True.

Explanation:

In the context of the audit of financial statements, fraud consists of recording intentional errors in the financial statements. The two main fraud categories are: fraudulent financial reports and asset misappropriation.

Fraudulent financial reports are characterized by containing errors or intentional omissions in the amounts with the intention of deceiving users. Most cases of fraudulent financial reports overestimate assets and income or omit financial liabilities and expenses to show higher income.

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Marc is a high school graduate and currently works as a corrections officer at a local prison. He would like to go back to schoo
Tatiana [17]

Answer:

Option (c) is correct.

Explanation:

In this situation, he is considered as employed. Presently, he is working as a correction officer and this job is suitable according to his qualifications. If he is trained and still working in a same department at a same job position then this situation is considered as an underemployed.

Hence,

While computing the official unemployment rate, the Marc is considered as an employed.

4 0
4 years ago
Lily Company was started last year when Lily borrowed $70 cash from the local bank. Lily used that $70 cash to purchase inventor
aev [14]

Answer:

d. Owners' Equity is $30

Explanation:

The owners equity is the amount of money that is own by the owner of the business or the business itself minus all of the debts that the business has, in this example, Lily just sold $100 in products, generating a profit of $30, because she bought that for $70, but she owns $70 of those $100 to the local bank, so eventhough she has $100, only $30 are actually owned by the business so Owner´s Equity equals $30.

6 0
4 years ago
Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the ye
zhannawk [14.2K]

Answer:

The answer is $810

Explanation:

Solution

Child and dependent care credit is certain percentage of qualifying care expenses based on the adjusted gross income. The maximum qualifying amount of daycare expenses is $3,000 per qualifying person.

Now from this example, Jocelyn had paid $4,180 to take care of her son and so,the qualifying amount of care expenses will be $3,000.

Since GI for the year is $31,800, the child and dependent care credit will be 27% of the qualifying care expenses that is,. $3,000 * 27% = $810

8 0
3 years ago
Which NIMS Management Characteristic may include gathering, analyzing, and assessing weather service data from technical special
brilliants [131]

Answer:

Information and intelligence management

Explanation:

NIMs which stands for national incident management system.  it is a system that direct all sort of organisation whether is is government, private or non government to work for prevention , respond to any incident occurs.

it is collective effort from all above organisation for prevention of any incident.

Information and intelligence management is one main characteristics of NIMS which gather all important information regarding any incident.

five steps of this characteristics are

planning and direction of work

collection of raw information

processing work

analysis of information

and circulation of information through various source

8 0
3 years ago
As the information security officer at your organization, you are concerned that a vendor with access to your purchasing applica
JulsSmile [24]

Answer:

Human resources

Explanation:

As an information security officer, I need to establish a vendor risk management process. I will have to engage

Procurement - because that department is directly involved in purchasing and dealing with vendors.

Legal - as I am looking to implement a risk management process, a legal department will help out defining the policy and to avert any lawsuits or government systems

Vendor Management - Because that group is directly dealing with vendors for their registration and other processes.

Human resource is not engaged because we are not looking for new manpower for HR to hire / recruit which makes them irrelevant.

4 0
3 years ago
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