All categories

3 years ago

The difference between errors in the financial statemetns as compared to fraud is

1 answer:

4 0

Hello there!

There is quite a HUGE difference between these both. When being frauded or making a fraud, this would also be known as stealing money.

But when making a mistake in a statement, they can be things resolved faster than if a person were to steal money. When making this mistake, you could resolve this by explaining why this was a mistake and also what could you do to fix it as well.

Both of these kind of acts are seriously two major different things, they have nothing in common.

You might be interested in

Last year Dania Corporation's sales were $525 million. If sales grow at 10.5% per year, how large (in millions) will they be 8 y

Andru [333]

In 8 years, Dania Corporation's sales would be $936.33 million.

Solution:

Since last year sales = $525 million,

Let last year be Year 0

So, in year 0 = $525 million.

Sales grow = 7.5% per year,

Year 1,

525 x 1.075 = $564.375 million.

Year 2,

564.375 x 1.075 = $606.7 million

Year 3,

606.7 x 1.075 = $652.2 million

Year 4

652.2 x 1.075 = $701.12 million

Year 5

701.12 x 1.075 = $753.7 million

Year 6

753.7 x 1.075 = $810.23 million

Year 7

810.23 x 1.075 = $871 million

Finally in year 8

871 x 1.075 = $936.33 million

To learn more about sales visit:

brainly.com/question/14253274

#SPJ4

3 0

2 years ago

HELPPP

Kamila [148]

Answer:

ture

Explanation:

5 0

2 years ago

Read 2 more answers

In 2022 the Splish Brothers Inc. had net credit sales of $1020000. On January 1, 2022, the Allowance for Doubtful Accounts had a

zaharov [31]

Answer:

$35,300 (Credit)

Explanation:

Given that;

Allowance = 10% × $242,000 = $24,200

Amount written off of $34,200 would have made the balance in the allowance for doubtful debts

= $34,200 - $23,100

= $11,100 (Debit)

However, the balance in the account at the end of the year should amount to $24,200 hence the adjustment required

= $24,200 + $11,100

=$35,300 (Credit)

5 0

2 years ago

In Brooklyn, New York, a pharmacy technician works in a neighborhood with many ethnicities. Many people are direct descendents o

Kay [80]

Answer:

A difference in languages between the parties

Explanation:

If the people are different ethnicities like, Russian, Polish, and Hebrew, they most likely do not speak the same language as each other or as the pharmacy technician.

6 0

3 years ago

If a firm accepts less than all of its prospective projects with positive NPVs when evaluated at their own risk-adjusted costs o

gtnhenbr [62]

Answer: True

Explanation:

Yes, the given statement is true that the employing capital rationing is one of the process in which it placing some restriction on the investment amount of the project in an organization.

In the capital rationing strategy, if the company accepts less amount from all its prospective projects along with some positive net profit value (NPVs) the it is evaluated on the basis of their own risk.

The employ capital rationing helps in making various types of decisions related to investment for the company and in this system only limited projects are taken due to the limitation of the resources.

Therefore, The given statement is true.

3 0

3 years ago