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rjkz [21]
3 years ago
12

Which of the following auditing procedures will provide evidence to support management’s assertions regarding the allocation and

valuation of inventories?
A) Vouching inventories to receiving documents.
B) Determining the replacement cost of inventories.
C) Vouching inventory counts to accounting records.
D) Tracing items reported in the accounting records to inventory counts.
Business
1 answer:
Rudiy273 years ago
4 0

Answer:   Option C

                                                     

Explanation: In simple words, vouching refers to the process in which an auditor confirms that something is accurate and true as described earlier.

      While performing auditing, the auditor performs the vouching function by physically counting the inventory and compare the count results with the statements that are presented by the firm to make sure that the documents are accurate.

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

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The following information is available for Baker Industries: Cost of goods manufactured $ 320,000 Beginning finished goods inven
schepotkina [342]

Answer:

Baker Industries

The Cost of goods sold for the period is:

= $330,000

Explanation:

a) Data and Calculations:

Cost of goods manufactured       $ 320,000

Beginning finished goods inventory 45,000

Ending finished goods inventory      35,000

Cost of goods sold:

Beginning finished goods inventory $45,000

Cost of goods manufactured            320,000

Ending finished goods inventory       (35,000)

Cost of goods sold =                       $330,000

4 0
3 years ago
The knowledge and skills acquired by a worker through education and experience is a description of which factor of production? p
Marta_Voda [28]

Answer:

human

Explanation:

I took the test

6 0
3 years ago
Pick an ad that speaks out against drug abuse. Write about the possible primary and secondary effects of this ad on the youth in
weeeeeb [17]

Answer: The National Youth Anti-Drug Media Campaign launched the “Above the Influence” (ATI) ad campaign in 2005. The campaign aims to provide young people with a different perspective on life. The campaign’s primary initiative is to reduce drug abuse among teenagers, not just by telling them about the harmful effects of drugs, but by helping them to counter bad influences (such as peer pressure) and believe in themselves. This campaign used print media, the Internet, television, and radio to communicate its message to teenagers.

The primary effects of this ad campaign on the youth in my locality were in terms of the immediate awareness that the ad’s message created. The campaign focused on improving lifestyles rather than just highlighting the bad effects of drugs, so it was able to connect with its target audience. Another key reason for the campaign’s success was the use of multiple media formats to communicate with the target audience.

An important secondary effect of this ad campaign was that it succeeded in spreading awareness about how peer pressure leads people into drug abuse. The campaign’s partnership with schools and other community groups helped to increase its effect on students in their early teens. Another secondary effect of the campaign was a decrease in the long-term use of marijuana and other illicit drugs among teenagers. The campaign managed to foster a feeling of independence and self-assurance among teens over the years.

The message of this ad campaign is still fresh in my mind. I’m sure it had a lasting effect on many others who heard it because it succeeded in building public awareness about the problem of drug abuse and in promoting a positive lifestyle.

Explanation:I got it of edmentum

3 0
3 years ago
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is fr
larisa86 [58]

Answer and Explanation:

According to the scenario, journal entry for the given data are as follows:

Cash A/c Dr. $1,000

Supplies A/c Dr. $3,000

Land A/c Dr. $8,000

Equipment A/c Dr. $5,000

To A/c Payable A/c $4,500

To Notes payable A/c $3,100

To M. Derr capital A/c $9,400    ($1000+$3000+$8000+$5000-$4500-$3100)

(Being Derr's investment is recorded)

3 0
3 years ago
Golf Guide sells imprinted clothing and accessories for golfers through a catalog. To find new customers, Golf Guide sends a sma
kherson [118]

Answer:

Cost per customer acquired = $51.67

Explanation:

Customer acquired per thousand pieces mailed = 1000*6% = 60

Total cost per thousand pieces mailed A    $3,100

Divide by Customers acquired  B                <u>   60     </u>

Cost per customer acquired A/B                <u>  $51.67</u>

7 0
3 years ago
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