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Bingel [31]
3 years ago
11

Firms subject to the reporting requirements of the Securities Exchange Act of 1934 are required by the Foreign Corrupt Practices

Act of 1977 to maintain satisfactory internal control. Moreover, the Sarbanes-Oxley Act of 2002 requires that annual reports include (1) a statement of management’s responsibility for establishing and maintaining adequate internal control and procedures for financial reporting and (2) management’s assessment of their effectiveness. The role of the registered auditor in this process is to:
A.Express an opinion on the effectiveness of internal contrfinancial reporting.
B.Express an opinion on whether the client is subject to thExchange Act of 1934.
C.Disclaim an opinion on the assessment of controls.
D.Report clients with unsatisfactory internal control to the
Business
1 answer:
erik [133]3 years ago
4 0

Answer:

C) Disclaim an opinion on the assessment of controls.

Explanation:

According to PCAOB AS 2201, the registered auditor must disclaim an opinion on the effectiveness of internal controls used by the corporation. The auditor must also determine whether management's reports are complete and properly presented.  In a final report, the auditor must give the reasons for his/her determinations.

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A firm pursuing a strategy based on customization and variety will tend to structure and manage its supply chain to accommodate
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A firm pursuing a strategy based on customization and variety will tend to structure and manage its supply chain to accommodate more _variation__ than a firm pursuing a strategy based on low cost and high volume

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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual i
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Answer and Explanation:

The journal entries are shown below:

1. Inventory $1,800

        Accounts Payable $1,800

(Being purchased on account)

2. Inventory $50

     To Cash $50

(being freight paid)

3. Accounts Payable $51

     To Inventory $51

(being the returned calculator is recorded)

4. Accounts Receivable $670

       To Sales Revenues $670

(Being sales is recorded)

5. Cost of Goods Sold $460

      To Inventory $460

(Being cost of goods sold is recorded)

6.  Sales returns $40

         To Accounts Receivable $40

(being sales return is recorded)

7. Inventory $28.20

      To Cost of Goods Sold $28.20

(Being cost return is recorded)

8. Accounts Receivable $780

      To Sales Revenues $780

(Being the sales is recorded)

9. Cost of Goods Sold $560

      To Inventory $560

(Being the cost of goods sold is recorded)

5 0
3 years ago
What are the disadvantages of using social media to evaluate candidates for a job opening? Check all that apply
leva [86]

Answer:

a. Some candidates may have little or no social media presence.

d. Social media profiles may not paint a complete picture of people.

e. Social media profiles cannot accurately predict future job performance.

Explanation:

i just got it right :)

5 0
2 years ago
Read 2 more answers
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