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andre [41]
3 years ago
6

Sally Lauren is the external auditor for Modus Industries, a public company that manufactures disk drives. As she analyzes the n

umbers, she finds that the quick ratio, which has typically remained consistent, increased from 1.7 to 2.3 over the previous year. What type of financial statement fraud scheme could be occurring?
Mathematics
1 answer:
ololo11 [35]3 years ago
6 0

Answer:

Fictitious account receivable

Step-by-step explanation:

Fictitious account receivables involves creating fake accounts or fake sales for the purpose of having the company appear to be in a better financial condition. This can be by creating fake invoices for fake customers.

These malicious activities are carried out by employees for the purpose of having an increase in sales commission.

The quick ratio that has suddenly increased from 1.7 to 2.3 can be due to the creation of these fictitious accounts and sales.

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Consider Michelle and Gladys, two neighbors who each earn the same salary. Gladys pays less in federal income taxes than Michell
goldenfox [79]

Sad to say it is likely D.  If you are in the United States, I wouldn't know what deductions are available, but here are some possibilities.

1. Gladys is a single Mom. She gets to deduct her child.

2. Gladys owns her own home and gets to deduct her municipal tax. Michelle is renting and may be able to deduct something but not as much.

3. Gladys gets to deduct medical expenses. Michelle does not.

4. Gladys has a travelling allowance that is deductible. Michelle does not.

5. Gladys goes to church and tithes. Michelle does not.

6. Gladys has a registered savings plan. Michelle does not.

The problem is that the two women might very well be in a different tax bracket when all the deductions are considered. That depends on how the US system works. I don't think you are supposed to choose A. All other things being equal, they should be in the same tax bracket.

I don't see how B would come about. Usually state is dependent on Federal (it is in Canada anyway).

C is definitely wrong unless the savings plan is registered. Any savings plan that produces dividends or interest that is not registered is taxable.


8 0
3 years ago
Read 2 more answers
After m
Whitepunk [10]
<span>length of finger nail in m month =10+3m
length of finger nail in 8 months =10+3*8
=10+24 =34mm
 I think thats the answer but im pretty sure thats the answer </span>
4 0
3 years ago
Read 2 more answers
judy has a piece of wood that is 4 5/8 feet long. she cuts off 3 feet 6 inches of the wood for a project. how much wood, in feet
Svet_ta [14]

there are 12 inches in 1 foot, so 6 inches is really just half a foot, thus 3'6" is really just 3.5' or 3½ feet.

now, let's convert those mixed fractions to improper fractions and then subtract, bearing in mind our LCD will be 8.

\bf \stackrel{mixed}{4\frac{5}{8}}\implies \cfrac{4\cdot 8+5}{8}\implies \stackrel{improper}{\cfrac{45}{8}}~\hfill \stackrel{mixed}{3\frac{1}{2}}\implies \cfrac{3\cdot 2+1}{2}\implies \stackrel{improper}{\cfrac{7}{2}} \\\\[-0.35em] ~\dotfill\\\\ \cfrac{45}{8}-\cfrac{7}{2}\implies \stackrel{\textit{using the LCD of 8}}{\cfrac{(1)45~~-~~(4)7}{8}}\implies \cfrac{45-28}{8}\implies \cfrac{17}{8}\implies 2\frac{1}{8}

6 0
3 years ago
Read 2 more answers
Seven less than three times a number is 5. Find the number
Anit [1.1K]

Step-by-step explanation:

it is 12 because 12 - 7 is 5 the number 4 is the number multiplied by 3

7 0
2 years ago
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HELPPPPP I NEED HELP ON THIS
rjkz [21]

Answer:

$51

Step-by-step explanation:

3 0
3 years ago
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