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Schach [20]
3 years ago
5

While auditing a client, the CEO asks you to look carefully at cash flows. You notice that cash flows have decreased every year.

Upon learning of your findings, the CEO remarks, "I seem to bring in more customers every year, but the cash is not there." You tell him that fraud may be occurring, and he asks you to investigate. The two of you agree that the most likely place for a fraud to be occurring is cash collections, and the CEO provides the names of three employees involved in the cash collection process. The CEO then asks how you plan to begin the investigation. Investigations should usually begin by interviewing the prime suspect or suspects, in this case the three employees who handle cash collections.
a. Trueb. False
Business
1 answer:
Vikki [24]3 years ago
5 0

Answer:

The answer is: FALSE

Explanation:

Documents are the most significant evidence in most fraud cases. Those who commit fraud will generally try to manipulate documentary evidence. Investigating the company's databases and accounting records are the best way to get documentary evidence. Also, documentary evidence is considered to be more reliable than eyewitness testimony.

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"Boeing Company was scheduled to deliver several of its 747-400 jumbo jetliners to Northwest Airlines by December 31, 1988. Nort
MAXImum [283]

Answer: NO, Northwest

Airlines can not recover lost credit tax, it has been forfeited.

Explanation:

What is a CREDIT TAX, this are grants given by government which is therefore used in replacing OLD APPLIANCES, and help tax payer reduce their total cost of housing unit.

As a result when due and over a year or more of request, it would be termed as unrecoverable.

The BOEING company, is an aviation company that manufactures Airplanes, jets and other airline Gadget, which are considered fast and reliable.

Boeing company airplanes and jetliners can fly 416 passenger within the range of 13,450kilometer, (8,360) miles.

The NORTHWEST AIRLINES, are in business with Boeing company and made several orders.

Due to the high expectance of getting a credit tax, on the investment they made on the JUMBO JETLINERS, from the boeing company, they put up a deadline, with an investment of $16 million

Now, due to TAX BREAK given to airlines and credits tax, the northwest wanted to use this medium to offset their cost and mitigate their future revenue and profit.

Since, the Boeing company failed in meeting up with the deadline made by the Northwest airlines which was to be as at DEC, 31st 1988.

Northwest airlines lost the credit tax they were to receive, on the planes they were expecting, and therefore decided to recover those lost credit tax from the Boeing company.

This is where the north airlines would request for a discount on the cost of the airplanes they invested on, or requiring a total refund because they couldn't meet their target.

Boeing company will definitely be at loss, due to the cost over head they encountered during production process, which they definitely won't agree to.

The credit tax has been forfeit, because its exceed more than a year of request and cannot be demanded for anytime in future.

5 0
3 years ago
Read 2 more answers
Sweetmeats Inc., a deli, produces its own grains, such as corn, wheat, rice, and oats. The employees create different types of b
Minchanka [31]

Answer:

Cost advantage.

Explanation:

In this scenario, Sweetmeats Inc., a deli, produces its own grains, such as corn, wheat, rice, and oats. The employees create different types of breads without having to buy the grains from other sources. This has helped them sell their bread items to customers at much lower prices than other neighboring delis. This scenario best illustrates a cost advantage.

Cost advantage can be defined as the factors, benefits or edge which an organization has to produce its goods and services at a cheaper rate and better quality, over its competitors or rivals in the same industry. Some of these factors include availability of raw materials, branding, skillful workforce, intellectual property, quality distribution channels, favorable location, great customer services, superior technology, etc.

6 0
3 years ago
Unlike​ wholesalers, _______ do not own the goods that they distribute to​ customers; rather, they serve as independent sales re
fomenos
Agents of a business
7 0
3 years ago
In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal c
Pachacha [2.7K]

Answer:

False

Explanation:

In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal cost, then total surplus is maximized.

As for any extra unit produced

Marginal Benefit > Marginal cost = Surplus

Marginal Benefit = Marginal cost = No Surplus / No loss

Marginal Benefit > Marginal cost = loss

When your Marginal benefit is maximum and Marginal cost is minimum then the surplus will be maximized.

Most efficient situation in which benefit is maximum and the cost is minimum results in maximized surplus.

8 0
3 years ago
____ transparency allows the system to perform as if it were a centralized database management system.
Kipish [7]
Failure<span>________ transparency ensures that the system will continue to operate in the event of a node failure.</span>
5 0
3 years ago
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