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
lys-0071 [83]
3 years ago
8

While reviewing the books at his firm, Chad Cooper noticed discrepancies between howthe firm recorded revenues last year and how

it elected to record revenues during the recent quarter of the current year. As a recent business graduate, Chad felt confident that the changes needed clarification. To get another opinion, Chad suggested to the company's controller that the firm solicit _______________. A. the assistance of the Government Accounting Standards Board.B. the services of a certified internal auditor.C. the services of a senior executive at the IRS.D.the services of an independent auditor.
Business
1 answer:
solmaris [256]3 years ago
7 0

Answer:

D.the services of an independent auditor.

Explanation:

In accounting based on the consistency principle, the method of reporting financial records should be consistent from one accounting period to the other. This enables easy comparison between previous and present records.

So in order to determine there need for an auditor to provide an opinion on the accuracy of the companie's financial statements.

The change in method of reporting could have been done to hide a discrepancy.

You might be interested in
During 2017 sales on account were $390,000 and collections on account were $230,000. also, during 2017 the company wrote off $22
Scilla [17]

Answer:

[(Accounts receivable at the beginning of the year + $138,000) - $144,000] - cash realizable value at the beginning of the year

Explanation: The question is incomplete but just apply the missing figures: [(Accounts receivable at the beginning of the year + Sales on account - Collections on account - write off) - bad debt] - cash realizable value at the beginning of the year

[(Accounts receivable at the beginning of the year + $390,000 - $230,000 - $22,000) - $144,000] - cash realizable value at the beginning of the year

5 0
3 years ago
Read 2 more answers
Which one of the following statements does NOT describe a problem with using ROE as a performance measure? A. ROE measures retur
Ne4ueva [31]

Answer:

B) ROE is a forward-looking, one-period measure, while business decisions span the past and present

Explanation:

ROE is a forward-looking, one-period measure, while business decisions span the past and present, this statement does not describe a problem with using ROE as a performance measure.

7 0
3 years ago
Kaspar Industries expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, respectively. It
Wittaler [7]

Answer:

January $151,575

February $248,675

March $305,525

Explanation:

The computation of the cash collections is shown below:

January month

= January credit sales × month of sale collection percentage

= $202,100 × 75%

= $151,575

February month

= January credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

= $202,100 × 25% + $264,200 × 75%

= $50,525 + $198,150

= $248,675

March month

= February credit sales × following month collection percentage + February credit sales  × month of sale collection percentage

=  $264,200 × 25%+ $319,300 × 75%

= $66,050 + $239,475

= $305,525

3 0
2 years ago
During global culture training for a group of employees who are being transferred to Egypt, Charmaine, the HR training manager,
joja [24]

Answer: Option E

Explanation: Cultural training refers to the training that is given to an individual for informing them about other cultures know-how.

In the Arab culture, the holding of hands is considered as an act of giving respect to others. It is considered as showing devotion and equality to the opposite party. Such acts comes from the well known hospitality culture of Arabic countries.

Thus, from the above we can conclude that the correct option is E.

7 0
3 years ago
What is a factor that increases the volatility of demand in industrial markets? Multiple Choice Professional buyers in the indus
emmasim [6.3K]

Answer:

Derived demand accelerates changes in markets.

Explanation:

Derived demand can be defined as the way in which the demand for a good or service tend to result from the demand for the related good or service and this occured when their is the demand for either good that are tangible or intangible goods where a market exists for both related goods and services.

In another word Derived demand occured in a situation where the demand for one good or service happens because of the want for another good or service Example is increase in the need for Shoes material or equipment because of the increase in the need for Shoes

because the factor of production by a company is dependent on the demand by consumers for the product produced by that company which is why the transition to become demand-driven is slowly occurring in many industries.

Hence, The factor that increases the volatility of demand in industrial markets is "Derived demand accelerates changes in markets"

8 0
3 years ago
Other questions:
  • Our company is deciding whether to invest in a new machine. The new machine will increase cash flow by $324,000 per year. You be
    5·1 answer
  • The Talbot Corporation makes wheels that it uses in the production of bicycles. Talbot's costs to produce 100,000 wheels annuall
    5·1 answer
  • Prepare the following journal entries in proper journal entry form. 1. Billed a customer for a $2,400 job. 2. Received $4,800 to
    9·1 answer
  • Use the following method to calculate the yearly depreciation allowances and book values for a firm that has purchased $150,000
    9·1 answer
  • Why can a bank afford to pay interest rate on a savings account
    6·2 answers
  • Clever tests to discriminate between alternative explanations. LaPorta, Lakonishok, Shleifer, and Vishny ("Good News for Value S
    6·1 answer
  • Antitrust laws are designed to create _____ competition in the marketplace.
    9·2 answers
  • Please help help help
    13·1 answer
  • A federal grant to states to assist in the building of new public schools is an example of a ________ grant.
    10·1 answer
  • What is an outcome in the game of economics
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!