Answer:
<u>The report should state that the communication is intended solely for the use of management, those charged with governance, and others within the organization.</u>
Explanation:
Such notice is important because it involves significant deficiencies in internal control which is <em>the primary responsibility of management to handle.</em>
For example, if an auditor reveals such information to those <em>not</em> charged with governance, and who are outside the organization he likely will face a backlash from the management.
Answer:
The answer is: A) Keep better track of information by using a shared database.
Explanation:
If this was a multinational corporation they would probably be using SAP or some other ERP system which prevents things like this from happening. The three companies will not be willing to merge their activities into one single ERP system but they can benefit from one of its main characteristics which is a common database. This way they will be able to avoid the duplication tasks or vendor orders.
Answer:
d. All of these answer choices are correct.
Explanation:
Capitalization of interest rates is not always appropriate. The ideal situation to do so is whenever an asset needs major investment and long construction time, thus generating a considerable amount of interest costs.
Moreover, if there are huge extra accounting and administrative costs associated with capitalizing interest costs, and the advantage of the extra information is relatively low, you do not need to capitalize it.
So the all given options are fulfilled
Hence, the correct option is d.
Answer:
C) Auction with reserve.
Explanation:
During an auction with reserve if the auctioneer is not able to reach a minimum price set by the owner of the objects that are being auctioned, then the owner has the right to withdraw his objects. Usually the reserve price is set before the auction takes place but may be changed during the auction depending on the actual bids. The reserve price is commonly not disclosed to the bidders in an auction.