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enyata [817]
4 years ago
13

During the year being audited, the Matthews Corporation changed from a system of recording time worked on clock cards to an IT p

ayroll system in which employees record time in and out with magnetic cards. The IT system automatically updates all payroll records. Because of this change...
(a) a generalized computer audit program must be used.
(b) without paper clock cards, part of the audit trail is altered
(c) the potential for payroll-related fraud is diminished
(d) transactions must be processed in batches
Business
1 answer:
drek231 [11]4 years ago
3 0

Answer: <u><em>This change will henceforth alter the audit trail.</em></u>

Here the change is described by Matthews Corporation as they switch from clock cards to magnetic cards. Therefore, now everything is being recorded and thereby automatically updates all payroll.

<em>Therefore, the correct option in this case</em><em><u> (b): without paper clock cards, part of the audit trail is altered</u></em>

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The deadweight loss from a tax is likely to be greater with a good that has:
Alona [7]

Answer:

A. -many substitute

Explanation:

Deadweight loss is inefficiency that occurs as a result of taxation. It's the change in production or consumption as a result of tax.

If tax is imposed on a good with many substitutes, the deadweight loss would be greater because consumers can easily shift consumption to another good that is cheaper.

If a good has inelastic supply or demand, the deadweight loss is less because consumers and producers do not change quantity demanded and supplied if prices increase as a result of tax.

I hope my answer helps you.

4 0
3 years ago
Janet and James purchased their personal residence 15 years ago for $300,000. For the current year, they have an $80,000 first m
Semenov [28]

Answer: $5750 ; $6000

Explanation:

The amount of their deduction for interest paid on qualified residence acquisition debt will be the interest paid on the first mortgage of their home which is: = $5750

The amount of the deduction paid on qualified home equity debt will be calculated as:

= (100000/150000) × 9000

= $6000

3 0
3 years ago
In the short run, an unexpected increase in prices will:.
satela [25.4K]

Answer:

will improve the profit margins of firms and thereby induce them to expand output in the short run.

6 0
2 years ago
on january 1, you sold short one round lot (that is, 100 shares) of snow’s stock at $21 per share. on march 1, a dividend of $3
bezimeni [28]

Thanks For Sharing.

on january 1, you sold short one round lot (that is, 100 shares) of snow’s stock at $21 per share. on march 1, a dividend of $3 per share was paid. on april 1, you covered the short sale by buying the stock at a price of $15 per share. you paid 50 cents per share in commissions for each transaction.

7 0
2 years ago
Brief Exercise 4-08 In 2020, Kingbird Corporation reported net income of $1,171,600. It declared and paid preferred stock divide
Verizon [17]

Answer:

$4.33 per share

Explanation:

Given that,

Net income = $1,171,600

Preferred stock dividends paid = $265,400

weighted average of common shares outstanding = 209,100

Therefore,

Earnings per share:

= (Net income - Preferred stock dividends paid) ÷ weighted average of common shares o/s

= ($1,171,600 - $265,400) ÷ 209,100

= $906,200 ÷ 209,100

= $4.33 per share

Hence, the Kingbird 2020 earnings per share is $4.33.

3 0
3 years ago
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