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densk [106]
3 years ago
13

An auditor most likely will review an entity's periodic accounting for the numerical sequence of shipping documents and invoices

to support management's financial statement assertion ofA. OccurrenceB. Rights and obligationsC. Valuation and allocationD. Completeness
Business
1 answer:
USPshnik [31]3 years ago
3 0

Answer:  C - Valuation & Allocation

Explanation: Auditors review of a company's shipping documents & invoices is to ascertain the correctness of the figures in the financial statement.

Auditors will have to value the transaction using the invoices and other documents available for the transaction and to to verify that the costs are allocated correctly.

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When merchandise sold is assumed to be in the order in which the purchases were made, the company is using a.last-in, first-out
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The correct answer is letter "D": first-in, first-out.

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A business using the first-in, first-out (FIFO) inventory valuation approach must sell, use or dispose first of all the products it produced or acquired. According to the FIFO process, the most recent assets purchased or generated are those that remain in inventory. Older stock is first removed from inventory.

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What part of a check is the least important
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Answer:

B. $42,000

Explanation:

Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.

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Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales

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Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.

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7 0
2 years ago
The U.S. work week has declined from 60 hours in 1890 to 40 hours today. The impact of the decline in working hours:________
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Answer:

It will Decreases U.S. real GDP and on the other way round it will increases the well-being of a typical working person in the U.S.

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The impact of the decline in working hours is that it will Decreases U.S. real GDP and on the other way round it will definitely lead to increase in the well-being of a typical working person in the U.S. because of the decline in the U.S work week which was formally 60 hours in the 1980 but now 40 hours today because a typical working person will have more time for him/her and the stress involved in working for 60 hours per week will reduce when compared with working for 40 hours per week because a typical working person in the U.S will preferred to work for 40 hours per week than 60hours per week for the betterment of their well being.

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