1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Varvara68 [4.7K]
3 years ago
5

Briefly describe at least one additional test you could perform to gain evidence as to whether or not the cash account is materi

ally misstated about The bank confirmation from Brigham National Bank was received quite late and was faxed on a non-standard bank confirmation form. There is no corroborating evidence that the document is genuine, or that it was received directly from the bank. Also, no job title is indicated for Gretchen Larson, the person who signed the bank confirmation.
Business
1 answer:
user100 [1]3 years ago
7 0

Answer:

I will review the bank reconciliation statement against the bank statements (both past and subsequent statements) received from Brigham National Bank and the internal records maintained by the company.  The review may yield the result that there are no issues or otherwise.  With this review, the confirmation received from Brigham National Bank will be verified as correct or not.

Explanation:

Auditor's review of some information will collaborate some third party evidence as either correct or misleading.  Since it is being suspected that the confirmation from Brigham National Bank, because of its form, could be forged, it is then necessary to gain additional evidence by reviewing other supporting evidence.

You might be interested in
Identify the following as a fixed asset (FA), or intangible asset (IA), natural resource (NR), or none of these (N). a. Computer
julsineya [31]

Answer:

a. Computer - fixed asset

b. Patent - intangible asset

c. Oil reserve - natural resource

d. Goodwill - intangible asset

e. U. S. Treasury note - none of these (N)

f. Land used for employee parking - fixed asset

g. Gold mine - natural resource

Explanation:

Intangible assets are the assets of a company that cannot be seen or they are not physical in nature. They are usually difficult to evaluate. They include:

  1. Goodwill
  2. Patent
  3. Trademarks
  4. copyrights

a fixed asset is a long term tangible piece of property or equipment that a company has and uses it to generate income. they include plant, property and equipment.

A natural resource is a substance that occurs in nature that can be used to generate economic profit.

5 0
2 years ago
Contribution Income Statement and Cost-Volume-Profit Graph Kopi Company produces dog cages that are sold for $38 per unit. The c
Marrrta [24]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the total unitary variable cost:</u>

Direct materials= 10

Manufacturing overhead= 5

Direct labor= 2

Selling and administrative= 5

Total unitary variable cost= $22

<u>Now, the contribution margin income statement:</u>

Sales= 5,000*38= 190,000

Total variable cost= 22*5,000= (110,000)

Total contribution margin= 80,000

Fixed Manufacturing overhead= (35,000)

Fixed Selling and administrative= (15,000)

Net operating income= 30,000

7 0
3 years ago
The Golden Rule means to treat others the way you want to be treated. This should prevent you from being rude, ugly, mean, disho
olganol [36]

Answer:

True

Explanation:

You should always treat others the way you want to be treated.  If you were the one who could be treated badly, would your actions be different?

7 0
3 years ago
Read 2 more answers
Suppose that Under Armor and Nike are the sole producers of a particularly comfortable athletic shoe. The two firms currently ch
gayaneshka [121]

Answer:

b. both firms will reduce their price.

Explanation:

The Nash equilibrium is a decision-making theorem that lies inside the game theory where the player could attain the expected result by not deviating to the beginning strategy. In this, the strategy of the each player is optimal at the time when the other player decisions are relevant

So as per the given situation, both the firm should decrease their price

hence the option b is correct

7 0
2 years ago
Several years ago, Castles in the Sand Inc. issued bonds at face value of $1,000 at a yield to maturity of 8%. Now, with 7 years
maxonik [38]

Answer:

$814.10

Explanation:

Calculation to determine what the price of the bond now

Using this formula

Bond price = PV of coupon payments + PV of face value

Bond price= C×((1 / r) – {1 / [r(1 + r)t]}) + FV / (1 + r)t

Let plug in the formula

Bond price= [(.080 ×$1,000) / 2] ×[[1 / (.12 / 2)] – (1 / {(.12 / 2)[1 + (.12 / 2)](7 ×2)})] + $1,000 / [1 + (.12 / 2)](7 ×2)

Bond price= $814.10

Therefore the price of the bond now is $814.10

3 0
3 years ago
Other questions:
  • Assume that Zambia has a domestic investment of $1500 billion, private domestic savings of $3000 billion, and a government defic
    12·1 answer
  • Define specialization and, with an example, show how specialization and voluntary exchange benefit both buyers and sellers in th
    14·1 answer
  • Which of the following might explain the evidence of an endowment effect in behavioral economics?A) Government regulation B) Kno
    10·1 answer
  • Herman Co. is considering a four-year project that will require an initial investment of $7,000. The base-case cash flows for th
    14·1 answer
  • The spot rate for the Argentine peso is $0.3600 per peso. Over the year, inflation in Argentina is 10 percent and U.S. inflation
    10·1 answer
  • Violet Industries held an annual meeting and reported a new annual budget of $50,000 in total fixed expenses. The new selling pr
    9·1 answer
  • How do property right benefit entrepeneurs?
    14·1 answer
  • Personal communication systems such as personal networks and grapevines: Spread information hierarchically throughout the organi
    9·1 answer
  • A company's current assets are $26,420, its quick assets are $15,090 and its current liabilities are $12,520. Its acid-test rati
    13·1 answer
  • The most rigorous test of a firm's ability to pay its short-term obligations is its?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!