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pychu [463]
3 years ago
13

Under SEC rules, internal controls over financial reporting (ICFR) are processes that provide reasonable assurance that financia

l reports are reliable. Which of the following is not assured by ICFR? A. Financial reports, records, and data are accurately maintained. B. Transactions are prepared according to GAAP rules and are properly recorded. C. Unauthorized acquisition or use of data or assets that could affect financial statements will be prevented or detected in a timely manner. D. IT controls that contain financial data are maintained.
Business
1 answer:
Aleksandr [31]3 years ago
3 0

Answer:

C. Unauthorized acquisition or use of data or assets that could affect financial statements will be prevented or detected in a timely manner.

Explanation:

Internal Control Financial Reporting is a framework designed to help companies manage their financial reporting and achieve the greater goals of risk assessment, control, information and communication, as well as monitoring. One of the weaknesses that could characterize ICFR is its inability to assure timely prevention and detection of unauthorized acquisition or use of data.

The scheme however ensures that financial records are maintained and that transactions are prepared according to GAAP rules. ICFR ensures that misstatements are detected in financial reporting.

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The point at which it is no longer advantageous to buy in bulk is known as marginal?
kipiarov [429]

The point at which it is no longer advantageous to buy in bulk is known as marginal. It is the incremental increase in a benefit to a consumer caused by the consumption of an additional unit of good.Marginal benefits normally decline as a consumer decides to consume more and more of a single good.


8 0
3 years ago
Read 2 more answers
Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 includes
erik [133]

Answer:

A) manufacturing costs= $37,000

B) Unitary cost= $37

Explanation:

Giving the following information:

Newhard Company assigns overhead costs to jobs based on 125% of direct labor cost.

The job cost sheet for Job 313 includes $10,000 in direct materials cost and $12,000 in direct labor cost.

A total of 1,000 units were produced in Job 313.

A) manufacturing costs= direct materials + direct labor + manufacturing overhead

manufacturing costs= 10000 + 12000 + (12000*1.25)= $37,000

B) Unitary cost= 37000/1000= $37

5 0
3 years ago
A lender estimates that the closing costs on a $293,600 home loan will be $11,010. the actual closing costs were 3.25% of the lo
mestny [16]

The closing cost of the house mortgage is lower than the envisioned by 0.5%.

<h3>What is the closing cost?</h3>

Closing expenses are the prices over and above the property's rate that consumers and dealers generally incur to finish an actual property transaction.

Those expenses may also encompass mortgage origination fees, cut price points, appraisal fees, name searches, name insurance, surveys, taxes, deed recording fees, and credit score file charges.

The lender is required by regulation to expose those expenses in the form of a mortgage estimate within 3 days of a domestic mortgage application.

Gifts of equity (actual property income given to a relative or close pal at a below-marketplace rate) can also incur a few closing cost.

So, from the above announcement, it's clear that alternative D, decreasing by 0.5%, is an appropriate answer.

Learn more about closing cost, refer to:

brainly.com/question/1084194

4 0
2 years ago
Two or more products are produced using limited resources. The firm would like to determine how many units of each product it sh
inysia [295]

Answer: Product-mix

Explanation:

From the given case/scenario, we can state that this situation describes the problem of product-mix. Product mix that is also known as or referred to as product assortment, tends to refer to total number of product/commodity lines that an organization offers to an individual or to its customers.There are four dimensions to an organization's product mix, these are length, width, consistency and depth.

3 0
3 years ago
A performance rating error in which the rater tends to give employees either extremely high or extremely low ratings is referred
victus00 [196]
D. leniency is based on when somebody rates an employee too high. Strictness error is when somebody was rated very very low.
3 0
3 years ago
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