Answer:
(a) 2 and 9
(b) 5, 6 and 7
(c) 1, 4 and 8
(d) 3
Explanation:
(a) financial statement audits,
2. Determine whether an advertising agency’s financial statements are fairly presented in conformity with GAAP. ( independent (external) auditors )
9. Report on the need for the states to consider reporting requirements for chemical use data. d governmental auditors Render a public report on the assumptions and compilation of a revenue forecast by a sports stadium/racetrack complex. ( independent (external) auditors )
(b) compliance audits,
5. Investigate financing terms of tax shelter partnerships. ( governmental auditors (IRS) )
6. Study a private aircraft manufacture’s test pilot performance in reporting on the results of text fights ( internal auditors )
7. Conduct periodic examinations by the U.S. Comptroller of Currency of a national bank for solvency. ( governmental auditors )
(c) economy and efficiency audits, and
1. Analyze proprietary schools’spending to train students for low-demand occupations ( governmental auditors )
4. Compare costs of municipal garbage pickup services to comparable services subcontract to a private business. ( internal auditors )
8. Evaluate the promptness of materials inspection in a manufacture’s receiving department. ( internal auditors )
(d) program results audits.
3. Study the effectiveness of the Department of Defense’s expendable launch vehicle program. ( governmental auditors )
Less money up front equals it to be better than renting an appartment
Answer:
C) Total assets are overstated.
Explanation:
The journal Entry for the Depreciation is as follows:
Dr. Depreciation Expense xxx
Cr. Accumulated Depreciation xxx
By missing this Journal entry the Accumulated depreciation account will be understated as we know that this is a contra asset account and this will net off the Long term assets. So, as a result the total asset will be overstated.
