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3 years ago

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

Business

1 answer:

lidiya [134]3 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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Jessica and ted wanted to hang out on saturday, but they wanted to do very different activities. jessica wanted to go look for n

Rainbow [258]

The conflict management style that Jessica and Ted most likely used is compromising. This style focuses in finding a solution which is acceptable for both parties, and at the same time partially achieving what they want. As stated on the sample situation, both Jessica and Ted decided to both give in a LITTLE and only ask for SOME of their needs to be met. This kind of conflict management can also deceive the other party for its passive-aggressive approach.

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3 years ago

the main objective of _____ is to avoid problems or to identify them as soon as possible.

Nezavi [6.7K]

<span>The main objective of quality assurance is to avoid problems or to identify them as soon as possible. Quality assurance is making sure that a product or service maintains a set level of faulty. If more attention needs to be put on the processes to make sure that the quality stays, that's okay, but it needs to be maintained. QA is a shortened version of quality assurance and many company's have a QA team set in place so that mistakes and defects are prevented. </span>

7 0

3 years ago

Historically, the ________ risk an investor is willing to accept, the ________ the potential return for the investment.

iVinArrow [24]

Answer:

The correct option is (A) more, greater

Explanation:

According to the risk return trade off, the risk is increased with the return that means if the returns are increased the risk is also increased and vice versa

So as per the given scenario, if there is more risk that investor wants to accept so the return should be more for the investment. This represents the direct relationship between the risk and return of the investment

hence, the correct option is (A) more, greater

3 0

3 years ago

A company currently sells products in the United States and is considering expanding to China or Vietnam. Expanding won't impact

mariarad [96]

Answer: Company should not expand to either.

Explanation:

Find the expected values of expanding to either country and pick the country with the highest expected value:

China:

= ∑(Probability of outcome * Outcome)

= (20% * 2,000,000) + (30% * 1,000,000) + (50% * -2,000,000)

= -$300,000

Vietnam:

= (70% * 1,000,000) + (30% * -2,500,000)

= -$50,000

<em>Both countries result in an expected loss so company should not expand to either of them. </em>

3 0

3 years ago

The ending inventory of finished goods has a total cost of $11,600 and consists of 600 units. If the overhead applied to these g

Lunna [17]

Answer:

the Direct Labor Costs are $5500

And Direct Materials are 2,250

Explanation:

Finished Goods has a total cost of $11,600

If the overhead applied to these goods is $3,850

Then the Direct Labor Costs are $5500

And Direct Materials are 2,250

Using the cross product rule

$3850 : 70

x : 100

x= $3850*100/70= $ 5500 are Direct LAbor Costs

Direct Materials= Finished Goods - overhead applied -Direct Labor Costs

Direct Materials =$11,600- $3,850- $5500

And Direct Materials are = $2,250

5 0

3 years ago