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3 years ago

Why is auditor important

Business

2 answers:

-Dominant- [34]3 years ago

7 0

Answer:

Auditors provide assurance of an organization's financial statements from an objective and independent opinion. It benifets the company by maintaining consistency, finding errors in their processing, or detecting fraud.

Dvinal [7]3 years ago

7 0

Auditors are important because it provides assurance to investors and creditors that company funds are handled appropriately. Auditors protect the public from investing in companies that use corrupt business practices or that attempt to defraud investors with false financial statements.

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Delaney company is considering replacing equipment which originally cost $600,000 and which has $420,000 accumulated depreciatio

Gelneren [198K]

From the given original cost and the total accumulated depreciation of the old equipment, it can be seen that the value of the equipment should still be $180,000.
salvage value = $600,000 - $420,000 = $180,000
Given that it can be sold for only $18,000, the sunken cost is $162,000.
sunken cost = $180,000 - $18,000 = $162,000

7 0

3 years ago

On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Ch

irga5000 [103]

Answer:

C.Accounts receivable 7,840 Cash discounts 160 Sales 8,000

Explanation:

I think your question is missed of key information, allow me to add in and hope it will fit the original one.

a. Accounts receivable 8,000 Sales 8,000

b. Accounts receivable 7,840 Sales 7,840

c. Accounts receivable 7,840 Cash discounts 160 Sales 8,000

d. Accounts receivable 8,000 Cash discounts 160 Sales 7,840

My answer:

Given:

Materials sold = $8,000

Credit terms = 2/10, n/30

Journal Entry for record sale on 10th November

Date Account Debit Credit

Nov 10 Cash $8000

Account receivable $7840

(8000 × 98%)

Sales discount $160

So Accounts receivable 7,840 Cash discounts 160 Sales 8,000 we choose C

6 0

4 years ago

Read 2 more answers

Which of the following best describes a matrix organization?

lara31 [8.8K]

I believe the answer is...... B

7 0

4 years ago

Why might a business owner prefer to start a business in a laissez-faire economy?

tresset_1 [31]

Answer:Hello! i am figuring this question out for you you.

Explanation:

4 0

4 years ago

The Kreidler Kids company can produce swing sets for $1,000. Kendra wants a new swing set for her children and will pay $1,500 f

Makovka662 [10]

Answer:

The Kreidler Kids company has a producer surplus of $500.

Explanation:

Producer surplus can be described or calculated as the amount a producer is willing to supply or sell goods and the actual amount the supplier received.

For this question, the producer surplus can therefore be calculated as follows:

The amount Kreidler Kids company can produce swing sets = $1,000

The amount paid by Kendra for the the swing set = $1,500

Producer surplus = The amount paid by Kendra for the the swing set - The amount Kreidler Kids company can produce swing sets = $1,500 - $1,000 = $500

Therfore, the Kreidler Kids company has a producer surplus of $500.

5 0

3 years ago

Why is auditor important​

Why is auditor important