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MAXImum [283]
3 years ago
12

Assertions about account balances at year-end typically include _______.A. existence, completeness, and allocationB. existence,

completeness, and rights and obligationsC. existence, occurrence, and cutoffD. accuracy, valuation, and occurrence
Business
1 answer:
Ksenya-84 [330]3 years ago
7 0

Answer:

The correct answer is letter "B": existence, completeness, and rights and obligations.

Explanation:

Assertions are management claims about certain matters regarding a company. Those claims are raised as a result of <em>auditing</em> the firm's financial statements. There are three (3) types of assertions which are:

  • Transaction-level assertions: <em>accuracy, classification, completeness, cutoff, and occurrence. </em>
  • Account balance assertions: <em>completeness, existence, rights and obligations, and valuation. </em>
  • Presentation and disclosure assertions: <em>accuracy, completeness, occurrence, rights and obligations, and understandability.</em>
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3 years ago
Suppose that a delivery company currently uses one employee per vehicle to deliver packages. Each driver delivers 60 packages pe
lisabon 2012 [21]

Answer:

a. What is the MRP per driver per day?

  • the marginal revenue product per driver = 60 packages x $20 = $1,200 per day

b. Now suppose that a union forces the company to place a supervisor in each vehicle at a cost of $300 per supervisor per day. The presence of the supervisor causes the number of packages delivered per vehicle per day to rise to 60  packages per day What is the MRP per supervisor per day? By how much per vehicle per day do firm profits fall after supervisors are introduced?

  • if the drivers were already delivering 60 packages per day without the supervisor, then the addition of the supervisor doesn't change anything. So the MRP of the supervisor is $0. That means that the company's profits will decrease by $300 per day due to the supervisors.

c. How many packages per day would each vehicle have to deliver in order to maintain the firm's profit per vehicle after supervisors are introduced?

  • $300 / 20 = 15 packages per day
  • in order to maintain the profit per vehicle, each team of delivery man + supervisor should be able to deliver 75 packages per day.

d. Suppose that the number of packages delivered per day cannot be increased but that the price per deliver might potentially be raised. What price would the firm have to charge for each delivery in order to maintain the firm's profit per  vehicle after supervisors are introduced?

  • $300 / 60 = $5
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6 0
3 years ago
In the past, Taylor Industries has used a fixed−time period inventory system that involved taking a complete inventory count of
N76 [4]

Answer:

a) Taylor Industries can successfully cut back its labor cost in inventory stockrooms by counting only high-value items.  These items are determined by reference to their Annual Usage values.  The items' annual usage values should be used as the activity cost pool for accumulating and allocating labor cost in inventory stockrooms.  Taylor Industries can establish a benchmark or cutoff point so that only the items meeting this benchmark are counted.  For example, the items with annual usage value above $5,000 should be included in the items to be counted.  This strategy will reduce the number of items to be counted and therefore the labor cost.

b) Since item 15 is critical to Taylor Industries' continued operations, it should be classified as a direct materials cost and not an overhead cost.

Explanation:

a) Data and Calculations:

a random sample of 20 of Taylor's items:

ITEM NUMBER   ANNUAL USAGE    ITEM NUMBER    ANNUAL USAGE

1                               $ 1,500                      11                       $ 13,000

2                               12,000                     12                              600

3                                2,200                      13                        42,000

4                              50,000                     14                           9,900

5                                9,600                     15                            1,200

6                                   750                      16                         10,200

7                                2,000                      17                          4,000

8                               11,000                      18                         61,000

9                                  800                       19                         3,500

10                            15,000                      20                        2,900

Average annual usage value = $12,657.50

4 0
3 years ago
Hall and Donnell reported findings of five separate studies involving over 12,000 managers that explored the relationship betwee
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Answer:

D) were highly likely to be in their lower-achieving group.

Explanation:

Theory X refers to a motivation theory developed by Douglas McGregor. Theory X can be described as a pessimistic view of humanity and human workers. Managers who support theory X tend to dislike their own work and believe everyone else dislikes their work, are not ambitious and believe everyone else is not ambitious either, and finally don't like to assume responsibility over their actions and believe everyone else is like them.

So it shouldn't be a surprise that managers who support theory X are underachievers.

4 0
3 years ago
Which of the following do brands with strong brand equity NOT necessarily have?
MAVERICK [17]

Answer:

A large marketing department is answer

Explanation:

I hope it's helpful!

8 0
3 years ago
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