Answer:
A. Request confirmation of a sample of the inactive account.
Explanation:
In the confirmation of accounts receivable, the auditor would most likely Request confirmation of a sample of the inactive accounts .
doing something with criminal intention.
Answer:
Investor A = $545216 .
Investor B = $352377
Investor C = $897594
Explanation:
Annual rate ( r ) = 9.38%
N = 41 years
<u> Calculate the balance at age of 65</u>
1) For Investor A
balance at the end of 10 years
= $2000 (FIA, 9.38 %, 10) (1 + 0.0938) ≈ $33845
Hence at the end of 65 years ( balance )
= $33845 (FIP, 9.38 %, 31) ≈ $545216 .
2) For investor B
at the age of 65 years ( balance )
= $2000 (FIP, 9.38%, 31) = $322159 x (1 + 0.0938) ≈ $352377
3) For Investor C
at the age of 65 years ( balance )
= $2000 (FIP, 9.38%, 41) = $820620 x (1 + 0.0938) ≈ $897594
<h3>
Answer:</h3>
D. Allowance for Doubtful Accounts is shown as a deduction from Accounts Receivable on the balance sheet.
<h3>
Explanation:</h3>
- Balance sheet is a statement of account that shows the number of assets, liabilities, capital and net profit or loss in an organisation.
- Receivables refers to the amount that the seller ios owed by the customers or buyers.
- Therefore, receivables are current assets in a business and are listed on the left side of the balance sheet.
- Allowance for doubtful accounts is listed as a deduction below the accounts receivable as it is a reduction of the total amounts on accounts receivable.
Answer: AGREE
Explanation:
A Monopoly faces no competition and are the only sellers of the product they sell. If firms in an industry successfully engage in collusion, the resultant effect will definitely be not unlike a Monopoly because they will set prices as a single firm, control output as a single firm and essentially run the market as a single firm.
They will sell at a rate where the Marginal Revenue curve will be below the demand curve. This will mean a higher price than a competitive market which was probably the main incentive for collusion.
A recent example would be the collusion between BMW, Daimler and Volkswagen, to hinder technological progress in improving the quality of vehicle emissions in order to reduce the cost of production and maximize profits. Thankfully this was busted by the European Commission in 2019.
