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The confirmation of customers' accounts receivable rarely provides reliable evidence about the completeness assertion because:__

vlada-n [284]

Answer:d

Explanation:maybe

6 0

3 years ago

Explain why a finance manager need to understand accounting information even if the firm has a trained accountant on its staff.

nekit [7.7K]

Answer:

Following are the solution to the given question:

Explanation:

A financial manager should understand adequate information on accountancy. This is irrespective of whether the business does have a trained counterpart.

Accountancy is a necessary input into the function of financial management. Throughout the extent, as accounts were important input in financial decision-making is closely connected with both the interaction between finance and financial.

Accrual analysis provides information mostly on the company's operations. The result of the accountancy is accounts like the income statement, the income statement, and the position financial adjustments report. The information in such statements helps money advisors assess a company's previous growth and career projections.

The purpose of accountancy in the choice process is to gather and provide financial data on the institution's past, present, and future activities.

During the economic transaction, the finance department uses these data. This is not possible for money advisors to collect data or to make choices from accounts. And an investor's primary focus is to collect data and display it, whereas budgeting, control, and judgment are the main job of a financial manager. In a sense, financial management starts at the end of accountancy.

7 0

3 years ago

Constructive criticism means:

MrRissso [65]

Feedback with the intention to help by listing reasonable arguements

8 0

4 years ago

Read 2 more answers

1.42 pointsItem 4Item 4 1.42 pointsOn January 1, Revis Consulting entered into a contract to complete a cost reduction program f

deff fn [24]

Question Continuation

Prepare the following journal entries for Revis:

1. The journal entry on January 31 to record the first month of revenue under the contract.

2. Assuming total cost savings exceed target, the journal entry on June 30 to record receipt of the bonus.

3. Assuming total cost savings fall short of target, the journal entry on June 30 to record payment of the penalty.

Answer:

1. The journal entry on January 31 to record the first month of revenue under the contract.

Possible Price -------------------------------Possibility------------Expected Amount

$130,000 ($20,000*6+$10,000) ------80% ------- --------------$104,000 (80% * $130,000)

$110,000 ($20,000*6-$10,000) --------20% -----------------------$22,000 (20% * $110,000)

Expected value--------------------------------------------------------------$126,000 ($104,000 + $22,000)

Accounts ------------------------Debit------------Credit

Cash -------------------------------$20,000 (Debit)

Bonus receivable----------------$1,000 (Debit)

Service revenue --------------------------------- $21,000 ($126,000/6)(Credit)

2. If total cost savings exceed target, record the entry on June 30 for receipt of the bonus

Accounts --------------Debit--------------------------Credit

Cash --------------------- $10,000 (Debit)

Bonus receivable-------------------------------------$6,000 (Credit) ($1000 * 6)

Service revenue ------------------------------------- $4,000 (Credit)

3. If total cost savings fall short of target and record the entry on June 30 for payment of the penalty.

Accounts --------------Debit--------------------------Credit

Service Revenue ---------------- $16,000 (Debit)

Bonus receivable-------------------------------------$6,000 (Credit) ($126,000 / 6)

Cash ------------------------------------- $4,000 (Credit)

3 0

3 years ago

A contract or ________ stipulates in writing all the client's requirements and gives all of the relevant information.

Scrat [10]

It should be noted that contract or event profile is usually stipulated in writing all the client's requirements and gives all of the relevant information.

An event profile can be regarded as set of event scripts, which helps to give description about an event.

This profile or contract do list out all the requirements that is needed by a company from the client in executing their services.

Therefore, contract or event profile serves all the client's requirements and gives all of the relevant information.

Learn more about contract or event profile at:

brainly.com/question/24858866

7 0

2 years ago