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IrinaVladis [17]
2 years ago
5

A major difference between financial statement auditors and fraud examiners is that most financial statement auditors: a. match

documents to verify whether support exists for recorded information. b. determine whether the documents are originals. c. determine whether the expenditures make sense. d. check whether all aspects of the documentation are in order.
Business
1 answer:
Oksi-84 [34.3K]2 years ago
7 0

Answer: Option A

       

Explanation: An auditor refers to an individual who is certified by an authority to perform an audit. The auditor provides an independent opinion as if the statements of the company are prepared as per the accounting and auditing standards.

Fraud examiners are the individuals who investigates an activity which is concluded to be a fraud already.

The difference between the two is, the auditor initially ascertains if there is a fraud while the fraud examiner tries to ascertain who is guilty of performing the fraud.

Hence from the above we can conclude that the correct option is A.

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A 20-year loan of 2,500 is repaid with payments at the end of each year. Each of the first ten payments equals 175% of the amoun
Firdavs [7]

Answer:

The answer is 156.25

Explanation:

In the 1st year:

- Interest: 2,500 x 5% = 125

- Payment amount: 125  x 175% = 218.75

- Principal: 218.75 - 125 = 93.75

Hence, the principal payment in 20 year loan as follow:

10 x 93.75 + 10 x X = 2,500

=> X = 156.25

4 0
3 years ago
A difference between operations and projects is that operations end when their objectives have been reached, whereas projects do
maxonik [38]

Answer:

FALSE

Explanation:

It is False that the difference between operations and projects is that operations end when their objectives have been reached, whereas projects do not.

The reverse is true because projects are time-bound and they come to an end when their objectives have been achieved, but company operations are expected to continue as a going concern.

A project is an activity to meet the creation of a unique product or service, an thereafter terminates while operations are day to day routine activities that are expected to continue

3 0
3 years ago
Cabot Company reported a pretax operating loss of $50,000 for financial reporting and tax purposes in 2018. The enacted tax rate
Nady [450]

Answer and Explanation:

1.

Net Operating loss carryback  Amount  Rate of Tax  Tax Recorded as

Carried back - 2014               $0.0          30%         $0.0  

Carried back - 2015               $0.0          30%         $0.0  

Carried back - 2016           $42,000        35% $14,700.0  

Carried back - 2017           $8,000.0       40% $3,200.0  

Total Carryback                 $50,000.0                    $17,900.0

Journal Entries - Cabot Company

Date                Particulars                                  Debit Credit

31-Dec-18      Receivables - Income Tax Refund  $17,900

          To Income tax benefit - Net Operating Loss           $17,900  

2. Cabot's net loss for 2018 = -$50,000 + $17,900

                                          = ($32,100)

5 0
3 years ago
A pencil manufacturer is in a perfectly competitive market. The firm can sell as much as it wants at a price of $1.50 per pencil
Ierofanga [76]

Answer:

d. Continue production in the short run, but exit the business in the long run unless prices are expected to rise or costs to fall..

Explanation:

Currently, their sales revenue less variable cost is positive as it can sale at $1.50 dollars and the variables cost are less than that. Therefore, there are fixed cost thefirm can pay because it produce.

Now, in the long-run when the firm can exit the market it should consider to do so if it continues to get an average cost above the selling price.

3 0
2 years ago
Which of the following are effective means of aligning management goals with shareholder interests?
gizmo_the_mogwai [7]

Answer:

E. I, II, III, and IV

Explanation:

All of the mentioned strategies would work.

Employee stock option provides the enthusiasm and energy to perform good among employees. This is beneficial for the company and shareholders as well.

The threat of takeover, scares the shareholders in losing their share, and effective voting right. Also the management feels threaten as the new company might replace them with the management personnel they desire.

Management bonuses help management to get a boost in energy and accordingly motivates to work good, also the shareholders desiring performance will find it effective.

The threat of proxy fight engages both the parties to behave properly towards each other and respect each other.

3 0
3 years ago
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