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Burka [1]
3 years ago
11

A performance audit engagement typically involves: a. Review of financial statement information, including the appropriateness o

f various accounting treatments. b. Tests of compliance with policies, procedures, laws, and regulations. c. Appraisal of the environment and comparison against established criteria. d. Evaluation of organizational and departmental structures, including assessment of process flows.
Business
1 answer:
zysi [14]3 years ago
8 0

Answer:

The correct answer is c. Appraisal of the environment and comparison against established criteria.

Explanation:

Performance audit is defined as a systematic, multidisciplinary, independent and objective review of the operation, programs and projects carried out by an organization and focuses mainly on evaluation to determine if its management has performed in terms of economy, efficiency and effectiveness.

The performance audit emphasizes how the different areas of a company have impacted the target market with their actions, considering the relevant results and real progress in achieving the objectives and goals.

Among its main technical tools we can distinguish the matrix of results indicators, which allows to efficiently link the objectives of the company and the results expected to be obtained in each of them, as well as the measurement indexes necessary for its monitoring and evaluation.

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3 0
3 years ago
On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines are provided
ddd [48]

Answer:

a.

Oct 1   Cash                                                         $240 Dr

               Unearned Subscription Revenue            $240 Cr

b.

Dec 31   Unearned Subscription Revenue                      $60 Dr

                    Subscription Revenue                                        $60 Cr

Explanation:

a.

The receipt of $240 upfront in advance from a customer is a liability for the business as the business has received cash for service that is yet to be provided. The business will record this as a debit to the cash account and credit to a liability account of  Unearned Service Revenue.

b.

On 31 december, the business has provided magazines for 3 months thus it has earned revenue for 3 months. The revenue for 3 months is,

Revenue per month = 240 / 12 = 20

For 3 months = 20*3  = 60

The business will record this as a credit to the subscription revenue and a debit to the unearned subscription revenue

4 0
4 years ago
Which of the following deals with cost-benefit analysis?
lana66690 [7]
It is B. and now i have to type more to get this answer posted
8 0
3 years ago
Read 2 more answers
"In the __________ strategy, you can manipulate _________ to match supply and demand. a. Chase; inventory level b. Chase; invent
makkiz [27]

Answer:

a. Chase; inventory level

Explanation:

Chase Strategy is one of the two aggregate planning methods where the production is set according to demand forecasts. Hence in this type of aggregate planning, the inventory level may be increased for a certain duration to cater for higher demands while it can also be lowered through low production for low forecasts. Hence Inventory level may be manipulated to match supply and demand.

7 0
3 years ago
Read 2 more answers
What are some Excel functions that a financial planner might use or need?
alexandr1967 [171]
1. Vlookup and Hlookup
2. Pivot table
3. some IF functions such as countif, countifs

7 0
3 years ago
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