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Llana [10]
3 years ago
9

Choose the answer which best describes the relationship between the attribute given for a financial statement account and the li

kely reliance on substantive analytical procedures for that account within an audit: Adequacy of Internal Controls Risk of Material Misstatement Predictability of Relationships Among Data a. Direct Inverse Direct b. Inverse Inverse Direct c. Inverse Direct Inverse d. Direct Direct Inverse quizet
Business
1 answer:
Darina [25.2K]3 years ago
3 0

Answer:

The correct answer is A

Explanation:

There is a direct relationship among the adequacy of the internal control as well as the ability of the auditor to rely on the procedures of the substantive analytical. When the entity does not have the efficient internal controls, then the auditor will rely on the procedures.

There is an inverse relationship among the RMM ( stated as risk of the material misstatement) as well as the ability of the auditor to rely on the procedures. And high RMM states that the internal control cannot be relied on to detect the material misstatement on the financial statements, which cause the auditor to rely on the tests of controls.

And there is a direct relationship among the predictability of the relationships among the data and the ability of the auditor to rely on the procedures. When the relationships are predictable, then the auditor could create a meaningful expectations which cause the procedures to be more efficient in detection of material misstatement.

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Brady Company entered into these transactions during May 2022, its first month of operations.
Monica [59]

The effect of each transaction on the accounting equation is to be shown in the attachment below.

The following information should be considered:

  • In the accounting equation, the total assets should be equivalent to the total liabilities & the shareholder equity.
  • It determined the financial position, performance of the company.
  • It is known as the presentation of the balance sheet.

In this way, the accounting equation should be prepared.

Learn more: brainly.com/question/14689492

4 0
2 years ago
The local convenience store advertises 50% off frozen slushies. As a result of the sale, the store sells 80% more slushies, but
Reil [10]

Answer:

0.4

Explanation:

Given that,

Convenience store advertises 50% off frozen slushies: This means that the price of slushies decreases by 50%.

20% Fewer sales of fountain drinks: This means that the quantity demanded of fountain drink decreases by 20%.

Percentage change in the price of slushies = 50%

Percentage change in the quantity demanded of fountain drink = 20%

Cross price elasticity measures the responsiveness of quantity demanded for one good to any change in the price level of the other good.

Therefore, the cross elasticity between slushies and fountain drinks is as follows:

= Percentage change in the quantity demanded of fountain drink ÷ Percentage change in the price of slushies

= 20 ÷ 50

= 0.4

Therefore, the positive cross price elasticity indicates that these are the substitute goods.

3 0
3 years ago
Select the correct answer. Which definition refers to visual merchandising? A. the art of presenting merchandise in a creative w
WITCHER [35]

Answer:

A

Explanation:

the art of presenting merchandise in a creative way that helps the store reach out to people

(if its not a, then its d)

6 0
3 years ago
Read 2 more answers
The crowding-out effect implies that restrictive fiscal policy will increase aggregate demand and employment. lead to a signific
vladimir1956 [14]

The crowding-out effect implies that restrictive fiscal policy will reduce real interest rates.

<u>Option: D</u>

<u>Explanation:</u>

The crowding out effect is the circumstances where greater interest rates consequences gives output of a decline in private investment expenditure so as to dampen the initial rise in overall investment expenditure. Authorities often embraces a restrictive fiscal-policy approach and raises spending to stimulate economic activity. This contributes to interest-rate rises. Higher interest rates have a impact on private investment choices. A high magnitude of the crowding-out impact can also result in lower economic revenue.

4 0
3 years ago
What is the distinction between free trade and fair trade?
sergey [27]

Answer:

Free trade focuses on the reductions of barriers and policies of nations.

Fair trade seeks to bring favor to the right of the worker.

Explanation:

4 0
2 years ago
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