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g100num [7]
3 years ago
10

The objective of tests of details of transactions performed as tests of controls is to A. Monitor the design and use of entity d

ocuments such as pre-numbered shipping forms. B. Determine whether internal controls have been implemented. C. Evaluate whether internal controls operated effectively. D. Detect material misstatements in the account balances of the financial statements.
Business
1 answer:
Alika [10]3 years ago
3 0

Answer:

C. Evaluate whether internal controls operated effectively.

Explanation:

Given that, a test of details of the transaction is an activity or process carried out by auditors, which can be done together with the test of control. The purpose of the test of control is, however, to determine the effectiveness of internal control.

Hence, in this situation, the correct answer is option C: Evaluate whether internal controls operated effectively.

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Bravo! You did a great job. I bet you are ready to further evaluate your learning
Ede4ka [16]
Where are the sentences
5 0
3 years ago
One of the four major time value of money terms; the amount to which an individual cash flow or series of cash payments or recei
maxonik [38]

Answer:

Future value

Explanation:

Future value is the value an assets as currently based on the assumed rate of its growth or increase.

Determining the future value of money or an investment helps one to make calculated decisions on what to get from the purchasing power of such money or how much the investment will be worth in the future.

Future value is calculated using

FVi=PV (1+I)n

Where

FVi is the value at the end of a particular period.

PV is price value.

I is the interest rate.

n is the number of compounding periods.

4 0
4 years ago
Read 2 more answers
Manuel, an it manager, has been studying the actions that his workers perform in an attempt to improve their productivity. Manue
lora16 [44]

Manuel, an it manager, has been studying the actions that his workers perform in an attempt to improve their productivity Mateo is utilizing. In economics, productivity quantifies output per unit of input, such as labor, capital, or any other resource. For the economy, it is frequently computed as a ratio of GDP to hours worked.

workers productivity can be broken down further by industry to study trends in labor growth, salary levels, and technology advancement. Productivity increase is directly related to corporate earnings and shareholder returns. Productivity is a measure of the efficiency of a company's production process at the corporate level.

To learn more about Productivity, click here.

brainly.com/question/22852400

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6 0
1 year ago
Dorothy bakes various items and supplies them to different patisseries. Friendly Neighborhood Baker has placed an order for 50 c
pochemuha

Answer and Explanation:

From the following given case or scenario , we can state that in this particular case, <em>"Dorothy will stick to the contract and thus has to supply in accordance to the agreement or the actual contract. </em>" Even though the Friendly Neighborhood Baker is demanding of Dorothy to increase the supply to 500 for the cupcakes and brownies but still the supply would still remain in accordance to the agreement signed.

3 0
3 years ago
As the controller of newton​ consulting, you have hired a new​ employee, whom you must train. she objects to making an adjusting
katrin [286]

Answer:

The new employee is WRONG because of the accounting principle of the matching concept

Explanation:

At the end of the month before closing the books, all expenses and revenue relating to that month must be captured. This helps the organisation to know how much costs it has incurred for that period. If the expense is delayed until payment before recording, it will not give a true picture of the monthly expenses.

The matching concept explains and underscores the accounting practice of recognizing revenues and related expenses within the same accounting period. The purpose of doing so is to avoid 'mismatching' which will lead to  misstating the earnings for a period.

Moreover that practice will be against Accrual Basis of Accounting

5 0
3 years ago
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