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jolli1 [7]
3 years ago
6

Which of the following is a true statement about an auditor’s responsibility regarding consideration of fraud in a financial sta

tement audit?
A. The auditor should consider the client’s internal control and plan and perform the audit to provide absolute assurance of detecting all material mis-statements.
B.The auditor should assess the risk that errors may cause the financial statements to contain any mis-statements and determine whether the necessary controls are prescribed and are being followed satisfactorily.
C.The auditor should consider the types of mis-statements that could occur and perform tests on 100% of the information subject to misstatement.
D.The auditor should assess the risks of material mis-statement due to fraud.
Business
1 answer:
Olegator [25]3 years ago
6 0

Answer:

D. The auditor should assess the risks of material mis-statement due to fraud.

Explanation:

At the time of auditor visit in a company the financial statement represent that the company has done the fraud in this scenario, the auditor should analyze the material misstatement risk that is done for fraud

Therefore in the given case, the option D is correct as the auditor responsibility is that he or she should analyze the risk with respect to the false statements presented in the financial statement

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The ability of an organization to effectively identify, acquire, foster, and retain loyal profitable customers is:
AleksAgata [21]

Answer:

c. customer relationship management

Explanation:

Customer relationship management -

It is the method , to manage the interactions of the present or previous customers with the company , by using the data , is known as the customer relationship manangement .

It make use of all the previous data in order to increase the business realtionship with the cutomers , for better profit .

The CRM , takes help from the website of the compnay , emails , chats and even social media , to perform its task .

4 0
3 years ago
Solartech Corporation, a U.S. exporter, sold a solar heating station to a Japanese customer at a price of 143.5 million yen, whe
Ulleksa [173]

Answer:

$929,404.15 (approx)

Explanation:

The dollar amount actually earned by Solartech after exchanging yen for U.S. dollars :-

= Price ÷ One dollar bought

= 143,500,000  ÷ $154.40 yen

= 143,500,000 ÷ $154.40  yen

= $929,404.15 (approx)

Therefore for computing the dollar amount actually earned by Solartech after exchanging yen for U.S. dollars, we simply divide price by one dollar bought.

3 0
3 years ago
Yolanda is a cash basis taxpayer with the following transactions during the year: Cash received from sale of products $66,000 Ca
riadik2000 [5.3K]

Answer:

$23,500

Explanation:

Net income is arrived at by deducting relevant expenses for the year from the gross income for the year. In this question, sales income is used to represent gross income. The net income can therefore be calculated as follows:

Net Income = Sales income - Expenses other than rent and interest - Rent - Interest

Net Income = $66,000 - $40,000 - [$45,000 × (1/18)] - 0

                    = $66,000 - $40,000 - $2,500 - 0

                    = $23,500

Therefore, net income is Yolanda's net income $23,500.

Note that [$45,000 × (1/18)] is used to calculate rent for only one which is December of the calendar year since the rent was paid for 18 months.

8 0
3 years ago
True or False: Capital controls are government-imposed barriers to foreign savers investing in domestic assets or to domestic sa
Archy [21]

Answer:

<h2>True </h2>

<h3>hope it helped you sorry if i don't have explanations</h3>
5 0
2 years ago
Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, and
ruslelena [56]

Answer:

1. Households decide to save a larger share of their income. - Aggregate-Demand Curve

If households in the economy started saving more of their money then this would leave less money for consumption which is one of the components of Aggregate Demand. When Consumption decreases so also will Aggregate Demand thereby shifting the Aggregate-Demand Curve to the left.

2. Florida orange groves suffer a prolonged period of below-freezing temperatures. - Short-run Aggregate Supply Curve

With the Florida Orange Groves suffering from below freezing temperatures, the oranges will not grow as much leading to a poor harvest. This will reduce the supply of oranges in the economy and shift the short-run Aggregate supply curve left.

3. Increased job opportunities overseas cause many people to leave the country. Both Aggregate-Demand Curve and Short-run Aggregate Supply Curve.

With less people in the Economy, there will be less people spending on goods and services which will cause the Aggregate Demand curve to shift to the left.

Also with people leaving the country, the labor force will decrease which will mean that less people are available to produce goods and services so the short-run Aggregate supply curve will shift left.

6 0
3 years ago
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