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sleet_krkn [62]
3 years ago
8

An accountant is engaged to perform compilation services for a new client in an industry with which the accountant has no previo

us experience. How should the accountant obtain sufficient knowledge of the industry to perform the compilation service?
Business
1 answer:
irga5000 [103]3 years ago
7 0

Answer:

The options are given below:

A. By obtaining the most recent letter of credit from the entity's primary financial institution.

B. By consulting the AICPA guides, industry publications, or individuals knowledgeable about the industry.

C. By researching the entity's internet site and searching for current press releases.

D. By reviewing the predecessor accountant's work papers without the knowledge of the entity.

The correct option is B.

Explanation:

The AICPA (American Institute of Certified Public Accountants) refers to the association which develops and scores the Uniform Certified Public Accountants examination. The main purpose of the AICPA is financial accounting, therefore, the association will possess information about an industry in its guides.

The accountant can consult industry publications, as this is bound to possess information regarding the industry. Also, the accountant can consult individuals knowledgeable about the industry.

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Carol Byrd gets a student rate of $30.00 a month. There is a $250 deductible; but no coinsurance payment. She recently received
Elden [556K]

Answer: Company Pays $1640

Carol Bryd pays $410

Explanation:

The total bill is $2300 and the deductible needs to be taken out.

$2300-$250

=$2050

Company Payment.

Company Pays 80% which translates to 0.8

0.8*2050

= $1640 is the company Payment.

Carol then pays the difference which is

$2050 - $1640

= $410

Carol pays $410

6 0
3 years ago
Schedule of Cash Payments for a Service Company Horizon Financial Inc. was organized on February 28. Projected selling and admin
podryga [215]

Answer:

Cash payments:

March $30,300

April $51,660

May $58,490

Explanation:

The following costs amounting to $9,000 should be deducted from the projected expenses per month

A. Insurance costs (it had been prepaid in February)

B. Depreciation (it doesn't involve any cash movement)

C. Property tax (it won't be due for payment until June)

This leaves each month expense as shown in the attached schedule. And based on the 70 : 30 rule, the table reflects the full payment structure.

4 0
3 years ago
What is a caterer what is his job
Oksi-84 [34.3K]
A caterer is someone who arranges the delivery, preparation and presentation of food for clients. If you've ever attended a bridal shower, fund raiser, rehearsal dinner, wedding reception or a bar mitzvah that had beautifully prepared and presented food, chances are that event was catered.
6 0
3 years ago
Lesley Torres is a project manager for the campaign​ "Action against Deforestation in​ Indonesia." She recently faced a glitch w
andrew11 [14]

Answer: (A) Controlling

Explanation:

According to the given question, Lesley Torres is the project manager in an organization and she organized a campaign against the deforestation in the Indonesia.

She performing the controlling function by managing all the schedules and also implementing the given process.

The controlling is one of the main function in the management as it ensure all the activities performed accurately and also helps in planning all the activities in an organization. It basically helps in meet the desirable goals of the company by setting a standard performance.

 Therefore, Option (A) is correct answer.

 

8 0
3 years ago
Gusler Corporation makes one product and has provided the following information:
Gre4nikov [31]

Answer:

$807,500

Explanation:

First determine the cost per unit (U) as a function of cost of materials (M):

M = 2 * $2.00 = $4.00

And cost of labor and overhead (L):

L = 2.7*($20.00+$10.00)

L= $81.00

Total cost per unit is:

U = M + L = $4.00+ $81.00

U = $85.00

The estimate cost of goods sold for the month of May (C) is the product of the cost per unit by the number of units sold during the month (9,500):

C= $85.00*9,500

C= $807,500

Therefore, the estimated cost of goods sold for May is closest to $807,500

8 0
3 years ago
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