Answer:
3) Control risk is assessed at below the maximum.
Explanation:
When the control risks are assessed at below the maximum it means that the controls are effective regarding the prevention and detection of misstatements in the financial statements.
So if the auditor wants to test the controls, it means that he/she wants to verify the operating effectiveness of the controls.
In other words, apparently the controls show that there are no misstatements regarding the sales transactions, so the auditor wants to check how efficient the controls are.
Answer:
b. promote economic growth
Explanation:
Economic growth refers to a rise in a nation's per capita income which is accomplished by a rise in the national output and increase in the Gross Domestic Product (GDP).
Economic development on the other hand is accomplished when a nation's GDP rise is accompanied by a rise in the standard of living of it's people.
A rise in the standard of living of the people is directly related with rise in the per capita income since, per capita income is a measure depicting average income earned by a person in a region.
Thus, in order to raise the standard of living of it's people, a nation should promote economic growth.
First, the value of each share rose by 2. So we have +2.
Then it fell by 5. So we have
2 - 5 = -3
Each share has a net value of negative 3.
Dave owns 15 shares. So,
15 * (-3) = -45.
So, there is a net loss of $45.
<u>The change in the owner's equity</u> is often documented in a separate revenue account when cash is received from sales.
<h3><u>What Is Revenue?</u></h3>
Revenue, which is determined by multiplying the average sales price by the number of units sold, is the money made from routine business operations. It is the top-line (or gross income) figure from which costs are deducted to calculate net income. On the income statement, revenue is referred to as sales.
Revenue is the money that a business generates via its operations. Depending on the accounting method used, there are various methods for calculating revenue. Sales made on credit will be included in revenue for products or services delivered to the client in accrual accounting. Revenue may be recognized in accordance with certain regulations even though payment has not yet been made.
Learn more about revenue with the help of the given link:
brainly.com/question/13595937
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Answer:
2,845 units
Explanation:
To find the answer you need to consider that the profit is equal to the sales minus the costs.
Let's consider that x is the number of units sold
Sales= Price per unit*number of units sold
Sales= 37x
Variable cost= Cost per unit*number of units sold
Variable cost= 11x
Fixed cost= 18,470
55,498=37x-11x-18,470
55,498+18,470=26x
73,968=26x
x=73,968/26= 2,845
According to this, the answer is that they need to sell 2,845 units to make the desired profit.
