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3 years ago

An exception or deficiency found in a test of controls

Business

1 answer:

topjm [15]3 years ago

3 0

Answer:

The correct answer to the following question is option B) indicates the likelihood of a misstatement .

Explanation:

The term test of controls can be defined as an audit procedure which is designed in such a way that it will help in evaluating the operational effectiveness of controls in correcting, preventing material misstatements at assertion level . So if any exception is found in the test of controls then it will likely indicate the likelihood of a misstatement .

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Sure Tea Co. has issued 6.3% annual coupon bonds that are now selling at a yield to maturity of 9.20% and current yield of 8.777

alina1380 [7]

Answer:

Ans. 26 years is the remaining maturity of this bond.

Explanation:

Hi, we have to find the price of the bond, so we use the following formula.

$CurrentYield=\frac{Coupon}{Price}$

This means that:

$Price=\frac{Coupon}{CurrentYield} =\frac{63}{0.08777} =717.79$

Let´s not forget that the Coupon is calculated by the following formula.

$Coupon=FaceValue*CouponRate=1,000*0.063$

Now that we found that the price of the bond is $717.79, we have to bring to present value the remaining coupons and the principal that is paid at the end, so we have to solve for "n" the following equation, discounted at the yield to maturity.

$Price=\frac{Coupon((1+YTM)^{n}-1) }{YTM(1+YTM)^{n} } +\frac{FaceValue}{(1+YTM)^{n} }$

Let´s fill up what we can

$717,79 =\frac{63((1+0.092)^{n}-1) }{0.092(1+0.092)^{n} } +\frac{1,000}{(1+0.092)^{n} }$

But to solve for "n" is pretty painful, so we can use a financial calcultator o MS Excel. Please find the MS Excel sheet that I used with the "Seek Goal" formula instruccions as follow.

Set Cell: $C$19

To Value: 717,79

By Changing cell: $C$14

So the answer is 26

Best of luck.

Download xlsx

4 0

4 years ago

Minter is a small software technology firm. To create equal opportunities in the workplace, the management of Minter wants to hi

Eddi Din [679]

Answer:

c) affirmative action

Explanation:

c) affirmative action

affirmative action is a type of policy that is concerned on the upliftment of the minority group. As it is given in the information above, the minter providing help to minority races by hiring more employee from these races.

it provide access to opportunity for different races. it is first created by president JOHN F KENNEDY in the year 1961. it enforced to restrict employer not to discriminate on the basis of color, region or religion etc.

3 0

3 years ago

Difference between transport business and drink business

gtnhenbr [62]

Answer:

a transport business uses (preferably semi's) any vehicles to transport one item from one place to another. a drink business is a place/product ( drinks (soft or alcoholic) and you sell them to make a profit

transport business is both cheaper and easy to set up and run.

8 0

3 years ago

If a firm is worried about distance, country risk, employee morale, intellectual property protection, legal issues, and obtainin

kvasek [131]

Options:

Offshore

Outsource

Keep in-house

Keep domestic

Answer: keep domestic

Explanation: The recruitment options embarked upon by firms may affect the policies or type of processes the firm's employ in overseeing their recruitment process. For firms who seems skeptical about issues relating to distance, legal issues, country risk, morale and other issues listed above, such firms will best be better placed to oversee a hiring process which is restricted to the local environment which the firm is well informed about and devoid of international and legal barriers, oversea culture and mentality which may hamper or affect the required hiring structure of the firm.

6 0

4 years ago

Communist values are disappearing because:

drek231 [11]

Answer:

D. Shortages abound due to the fact that the government cannot rely on good information.

8 0

4 years ago