Answers;
In scrutinizing a statement of cash flows in an attempt to gain a better understanding of the client, the auditor should evaluate to check if the client is meeting interest payments when they are due. The auditor may use information about the client's industry. This is done to evaluate whether significant changes is made in the company from prior periods, including changes in its internal control over financial reporting, affect the risks of material misstatement.
The term
public opinion is used to define as people’s beliefs and attitudes toward
different issues. Public opinions is the changeable attitudes that citizens
poses toward political issues, events, and people. The competition between
varying opinions and ideas that are aired in public forums.
Answer:
a. Income Tax Expense (Dr.) $298,000
Deferred Tax (Dr.) $30,000
Income Tax Payable (Cr.) $328,000
Explanation:
b. Income Tax expense (Dr.) $30,000
Allowance to reduce deferred tax value to NRV (Cr.) $30,000
Income tax payable is calculated based on tax rate of 40%.
$820,000 * 40% = $382,000
Answer:
Supply chain management
Explanation:
Supply chain management is a key feature of every organisation to maintain the flow of supply chain. The supply chain management is responsible to keep a check on the inventory, and the movement of goods and services. They are responsible to provide the final goods and services, improve the customer’s service, and to reduce the overall cost of inventory management.
Answer:
B) An inventory manager filling an order noticed that many of the chips were missing
Explanation:
The text book case explained that Larry was discovered by the inventory manager, but what really is troubling is not that he was able to steal the chips since bad things can happen, but that they happened several times. This means that the company's controls are extremely deficient and it wasn't so difficult to bypass them. If the inventory manager didn't discover Larry's crimes, then an auditor should have discover them. But that is no excuse, if the company knows that the chips are very valuable they should enforce stricter controls to prevent future incidents.
