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3 years ago

Which of the following statements is false regarding audit reporting?

Business

1 answer:

Mnenie [13.5K]3 years ago

8 0

Answer:

None

Explanation:

In simple words, audit reporting or auditing refers to the process under which an independent third part, licensed by the regulatory body, examines the financial statements of an organisation to check if such statements depicts fair information and are made as per the regulatory standards.

The auditor if satisfied gives the positive assurance and if not then he or she can ask for further information or can directly report the statements to the regulatory bodies.

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When the media decides to have a "breaking"

Alona [7]

I think it would be impact

3 0

3 years ago

Read 2 more answers

Carey Company had sales in 2016 of $1,560,000 on 60,000 units. Variable costs totaled $900,000, and fixed costs totaled $500,000

user100 [1]

Answer:

Results are below.

Explanation:

Giving the following information:

Selling price per unit= 1,560,000 / 60,000= $26

Unitary variable cost= 900,000 / 60,000= $15

Fixed costs= $500,000.

First, the income statement without the changes:

Sales= 1,560,000

Total varaible cost= (900,000)

Contribution margin= 660,000

Total fixed costs= (500,000)

Net operating income= 160,000

Now, with the changes:

Unitary variable cost= (15*0.8)= 12

Selling price= 26 - 1.5= $24.5

Sales in units= 60,000*1.05= 63,000

Fixed costs= 500,000 + 100,000= $600,000

Sales= 24.5*63,000= 1,543,500

Total variable cost= (12*63,000)= (756,000)

Total contribution margin= 787,500

Fixed costs= (600,000)

Net operating income= 187,500

3 0

2 years ago

Determine the annual financing cost of a 6-month (182-day) 20,000 discounted bank loan at a stated annual interest rate of 10 pe

ratelena [41]

Answer:

10.52%

Explanation:

The computation of the annual financing cost is shown below:

First we have to calculate the interest cost that is shown below:

= $20,000 × 10% × 182 days ÷ 365 days

= $997.26

Now the used funds is

= $20,000 - $997.26

= $19,003

Now the annual financing cost is

= ($997 ÷ $19,003) × (365 days ÷ 182 days)

= 10.52%

We assume there are 365 days in a year

3 0

2 years ago

Describe the relationship between the strategic planning process and portfolio management in an organization.

mel-nik [20]

Answer:

Portfolio management depends on strategic planning

Explanation:

While strategic planning in the analysis of both internal and external factors that will guide towards implementing an effective business strategies using models like SWOT and ,PESTLE analysis and Porters five forces, portfolio management is the management of a particular investment.

Before one can improve on a plan , there must be an existing plan. This means that there must be a functioning operation before one can begin to talk of improving on a particular portfolio

6 0

3 years ago

Vertical disintegration occurs when a company: a. uses its capital resources to purchase its competitor. b. takes advantage of a

Marizza181 [45]

Answer:

b. takes advantage of another company it does business with after the other company has made a substantial investment in assets to meet the needs of the company.

Explanation:

Vertical disintegration occurs when a company takes advantage of another company it does business with after the other company has made a substantial investment in assets to meet the needs of the company.

A common or popular example of vertical disintegration is Hollywood because it comprises of specialized business firms that are saddled with the responsibility of performing specific tasks or services such as creating movie trailers, posters, editing, sound effects, special effects, lighting, etc.

Generally, vertical disintegration help business firms or organizations to share risk associated with doing business among themselves.

5 0

3 years ago