To determine whether accounts payable are complete, an auditor performs a test to verify that all merchandise received is recorded. The population of documents for this test consists of all receiving reports.
<h3>What are receiving reports?</h3>
Receiving reposts is a kind of tool that is used to list, document or note all the transaction details of the businesses. It is generally updated and maintained by those employees of the staff who are responsible for receiving or accepting the delivery of goods.
Thus, an auditor runs a test to ensure that every item received is recorded in order to evaluate whether accounts payable are complete. The receiving reports are the population of documents for this test.
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I would say just stop being around them and don't speak or talk about them if u dont wanna be they topic
Answer:
Return on Investment = 17%
Explanation:
Return on Investment = Net income from investment / Investment opportunity * 100
Where Net income from investment = (Sales * Contribution margin ratio) - Fixed expenses
Net income = ($1,530,000 * 30%) - $306,000
Net income = $459,000 - $306,000
Net income = $153,000
Return on Investment = $153,000 / $900,000 * 100
Return on Investment = 17%
It might be easier because most credit unions require some kind of affiliation while banks will let anyone with money open and account.
Answer:
Option C Credit to Unearned Management Fees for $62,000
Explanation:
The reason is that the unearned managment fees are liabilities and so are credit in nature just like other liabilities. It is also the requirement of accrual accounting system that says the revenue and expenses must only be recorded when they are realized. Which means the revenue share for example which is $1000 must be recorded as revenue when we will deliver our customers services of one month. It doesn't matter if the revenue amount is not received in cash. So delivering your share is compulsory here to recognize sales or services.
