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Anna007 [38]
3 years ago
8

The statement made by Lynn Turner, former SEC chief accountant, "Are the auditors going to serve management, or are they going t

o serve the best interests of the investing public?", refers to concerns about:
a. Low-balling audit bids
b. Conflict between professionalism and commercialism
c. Fraud in financial statements
d. Opinion shopping
Business
1 answer:
OleMash [197]3 years ago
4 0

Answer:

B. Conflict between professionalism and commercialism

Explanation:

The conflict between professionalism and commercialism speaks to the debate on satisfying the management of an organisation as an auditor in order to meet economic situations and the need to be professionally independent of management in order to make a true and fair statement of the state of the organisation available to the shareholders as well as potential investors and the general public.

Because the management of an organisation runs the day to day affairs of that organisation, the Auditor in performing his duty interacts more with management and as such, the security of his future engagements may depend on favourable opinions of the management. This is commercialism

However, professionalism dictates that ethically, irrespective of the position of the management of an organisation, an auditor should always report the true and fair state of the business.

This represents the conflict expressed by Lynn Turner.

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A product whose eoq is 40 units experiences an increase in the annual holding cost from $10 per unit to $90 per unit. The revise
FromTheMoon [43]

 A product whose EOQ is 40 units experiences an increase in the annual holding cost from $10 per unit to $90 per unit. The revised EOQ is nine times as large.

The Economic Order Quantity (EOQ) is the ideal order quantity that a business should purchase to minimize inventory costs such as inventory holding costs, out-of-stock costs, and order costs.

Economic Order Quantity (also known as Economic Purchase Quantity) is the order quantity that minimizes the total storage and ordering costs in inventory management. One of the oldest classic production planning models. Wikipedia

Economic Order Quantity or EOQ, also known as "Optimal Lot Size", is designed to help businesses determine the optimal order quantity to minimize logistics costs, storage space, shortages, and excess inventory costs calculated. The formula is: EOQ = [2(setup cost)(demand rate)] / square root of holding cost.

Learn more about  EOQ  here

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3 0
1 year ago
Mang Jim has a banana plantation for almost one hectare. His neighbor named Timmy has a skill of baking cakes. Timmy interviewed
vitfil [10]

Answer:

yes, interviews are business

Explanation:

8 0
3 years ago
Mercury Industries currently has 300,000 shares of stock outstanding that sell for $75 per share. Assuming no market imperfectio
Softa [21]

Answer:

$45

Explanation:

Calculation for Mercury Industries share price after Mercury implements a 5-for-3 stock split

Stock price = Shares of stock outstanding per share× Implemented stock split

Hence,

Stock price=$75 × 3/5

= $45

Therefore what will be the share price after Mercury implements a 5-for-3 stock split would be $45

6 0
3 years ago
A bond has a par value of $1,000, a current yield of 7.25 percent, and semiannual coupon payments. The bond is quoted at 97.66.
zubka84 [21]

Answer:

7.08%

Explanation:

Face Value = $1,000

Current Price = 1000 x 97.66% = 976.6

Current yield = 7.25%

We can find the coupon rate by a simple formula

Coupon Rate = (Interest / Face value) x 100

We need to find interest first in order to find coupon rate

YTM = Interest / Current price

7.25% x 976.6 = Interest

70.7035 = Interest

Coupon Rate = (70.8035 / 1000) x 100

Coupon Rate = 7.08%

8 0
3 years ago
Property taxes incurred on the factory would be considered​ a(n): A. Manufacturing overhead cost B. Direct cost C. Period cost D
il63 [147K]

Answer:

a. A. Manufacturing overhead cost

b. B. Direct material cost

c. B. Direct labor cost

d. C. Period cost

Explanation:

Property taxes incurred on the factory ; Are included in manufacturing and product cost as a manufacturing overhead.

Materials to manufacture jeans : Are  included in manufacturing and product cost as a direct materials cost.

Assembly line​ worker's wages : Are  included in manufacturing and product cost as a direct labor cost

Depreciation on printers at sales office : Are expenses during the period.They are not included in product cost.

7 0
3 years ago
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