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Nastasia [14]
3 years ago
5

Internal controls are crucial to companies that convert from U.S. GAAP to IFRS because of all of the following risks except: Mul

tiple Choice Possible misstatement of financial information. Controls are significantly different across the globe. Possible fraud. Ineffective communication of the change to investors, creditors, and others. Management's inability to certify the effectiveness of the controls.
Business
2 answers:
ella [17]3 years ago
7 0

Answer:

Controls are significantly different across the globe.

Explanation:

An internal control refers to the policy or procedure set up by the management of an organisation to foster accountability, protect assets, enhance efficiency, eradicate fraud, and ensure policies of the organisation are adhered with.

Put simply, internal control is put in place to with the aim of prohibiting the employees from stealing assets and perpetrating fraud.  

It is therefore important for companies that convert from U.S. GAAP to IFRS to put in place internal control due risks of misstatement of financial information, fraud, and lack of effective communication of the effect of the conversion to investors, creditors and other users of the financial information.

Therefore, the fact that controls are significantly different across the globe is not a risk associated with conversion from U.S. GAAP to IFRS.

11111nata11111 [884]3 years ago
6 0

Answer:

Controls are significantly different across the globe.

Explanation:

     Risk include misstatement of financial information, fraud, ineffective communication of the impact of this change for investors, creditors and others users of the financial information and management inability to certify the effectiveness of the control.

     Risk management can be defined as the process that allows individual risk event and overall risk to be understood and managed proactively, optimising success by minimising threats and maximising opportunities.

     Controls are significantly different across the globe does not impact to fact that an organisation are at risk, as risk has to be managed from the top corporate level. these threats or risk could stem from a wide variety of source.

This control is part of internal control which only focuses on the the procedure or policy put in place by management to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.

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Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has bud
beks73 [17]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the number of processing hours:</u>

Processing hours= (0.25*3,000) + (0.1*6,000) + (0.3*3,500)

Processing hours= 750 + 600 + 1,050

Processing hours= 2,400

<u>Now, we can calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 207,000 / 2,400

Predetermined manufacturing overhead rate=$86.25 per processing hour

<u>To allocate overhead, we need to use the following formula:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Tortilla chips= 86.25*75= 64,687.5

Potato chips= 600*86.25= 51,750

Pretzels= 86.25*1,050= 90,562.5

<u>Finally, the unitary cost:</u>

Tortilla chips= 64,687.5 / 3,000= $21.56

Potato chips= 51,750 / 6,000= $8.63

Pretzels= 90,562.5 / 3,500= $25.88

8 0
3 years ago
An application currently stores all its data on Amazon EBS Volumes. All EBS volumes must be backed up durably across multiple Av
rewona [7]

Answer:

A. Take regular EBS snapshots .

Explanation:

-B is incorrect. It lacks durability of EBS volumes.

-C is incorrect. ECT Instance stores are not durable.

-D is incorrect. Mirroring across EBS volumes is pargely inefficient.

-Since EBS snapshots only saves snapshots of the most recent device changes, a great deal of time and memory is saved. Also, only data unique to any particular snapshot is removed in cases of deletion.

5 0
3 years ago
How can marketing affect the society?
k0ka [10]

Answer:

Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers. Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth.

3 0
3 years ago
real estate brokers serve as intermediaries by bringing buyers and sellers together in the real estate market. for this service,
Nezavi [6.7K]

When brokers serve as intermediaries who bring buyers and sellers together in the real estate market, they get paid what is commonly known as a Commission.

<h3>How are real estate brokers paid?</h3><h3 />

In the real estate market, brokers are paid based on commission. This commission is charged on the selling price of the house which means that it is the buyer that pays the commission. The reason real estate brokers get paid a commission is because of their service of bringing the buyers of real estate, to those who want to sell their property in the real estate market.

There can be different rates paid for commission to real estate brokers depending on the services rendered, the location, or how well known the real estate agent is. However, commission paid often ranges between 5% of the selling price to 6%. This means that if a real estate broker sells a property worth $100,000, they can expect between $5,000 and $6,000.

Find out more on real estate commission at brainly.com/question/13094656

#SPJ1

7 0
1 year ago
The dividend growth model: I. assumes that dividends increase at a constant rate forever. II. can be used to compute a stock pri
Dimas [21]

Answer:

I,  II,  III,  &  IV

Explanation:

The dividend growth model is just one of many analytic strategies devised by financial experts and investors to navigate thousands of available investment options and select the individual equities that are the best fit for the specific portfolio strategy.

6 0
3 years ago
Read 2 more answers
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