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jenyasd209 [6]
2 years ago
12

Which of the following statements about Generally Accepted Audit Standards are true?

Business
1 answer:
lidiya [134]2 years ago
8 0

Answer:

B) I and III

Explanation:

Generally Accepted Audit Standards are used for auditing private companies. They provide systematic guidelines to auditors when conducting audits on companies' financial statements. They check for the auditor's verifiability of the company's compliance  to the Generally Accepted Accounting Principles (GAAP) as well as  their accuracy and consistency of their records. Therefore, choices I and III are correct.

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The periodic expense created by allocating the cost of plant and equipment to the periods in which they are used, representing t
Alex787 [66]

Answer:

Option B Depreciation expense

Explanation:

The allocation of cost of the plant and equipment for the period being used is the concept of depreciation and is a period cost because when the asset is purchased its value decreases gradually with time which means some of the machinery value would be deminish during the year depending upon the technological factors, life of the equipment, etc. So the period cost will arise regardless of that we either use the asset or not which is the definition of period cost which in this case is depreciation cost and the allocation of cost of plant and equipment over its useful life is also depreciation cost.

8 0
3 years ago
Which of the following is true about finding the present value of cash flows? Finding the present value of cash flows in future
Neko [114]

Answer:

The correct answer is A: %70,154

Explanation:

Giving the following information:

True: Finding the present value of cash flows in future years tells you how much you would need to invest today so that it would grow to equal the given future amount.

What is the value today of a $158,000 cash flow expected to be received 12 years from now based on an annual interest rate of 7%?

We need to use the following formula:

PV= FV/(1+i)^n

FV= final value

i= interest rate

n= number of years

PV= 158000/(1.07^12)= $70,154

3 0
3 years ago
Kelly Slater owns a parcel of land in Palm Springs and is considering two possible development options which both use his signat
expeople1 [14]

Answer:

d. Choose Option B because it has a higher NPV

Explanation:

The computation is shown below:

For Option A:

Investment = $10 million

Present Value of cash flows = Cash flow ÷ Discounting rate

= $2 ÷  10%

= $20 million

Now

NPV = $20 - $10

= $10 million

We know that

IRR is the rate at which the NPV will be zero

So,  2 ÷  r - 10 = 0

r = 20%

For Option B:

Investment = $50 million

Present Value of cash flows = $6.5 ÷  10% = $65 million

NPV = $65 - $50 = $15 million

we know that

IRR is the rate at which the NPV will be zero

So, 6.5÷ r -50 = 0

r = 13%

Based on NPV, Option B should be selected as it contains higher NPV as compared to option A.

However, Based on IRR, Option A should be chosen as it contains higher IRR and a higher IRR represent a higher profit percentage

 

7 0
3 years ago
Which of these is an example of "serving the bottom of the pyramid"? a. Car-a-Go-Go Inc. is an MNC that specializes in luxury ca
inysia [295]

Answer:

Option B is Correct.

Explanation:

Serving the bottom of the pyramid means carrying in goods that are inexpensive by that class of the budget where individuals cannot afford luxuries like several advanced countries. They cannot afford high charges and would exploration for something affordable. Among the given examples Radical computer corp. which definite to build reasonable computers and install wireless arrangement to assist the humblest in getting these amenities which they generally cannot afford serves as an example of attending the bottom of the pyramid. Hence the answer is B

4 0
3 years ago
Why do large corporations want to become more like small businesses?
notsponge [240]

Answer:

Many large corporations want to become more like small businesses because they want to make their firm more flexible, resourceful, innovative, and competitive. ... For businesses based off the internet, they are able to adapt to market changes quickly.

3 0
2 years ago
Read 2 more answers
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