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lianna [129]
2 years ago
12

When auditing the existence assertion for an asset, auditors proceed from the: Multiple Choice General ledger back to the suppor

ting original transaction documents. Financial statement amounts back to the potentially unrecorded items. Potentially unrecorded items forward to the financial statement amounts. Supporting original transaction documents to the general ledger.
Business
1 answer:
Law Incorporation [45]2 years ago
6 0

Answer:

General ledger back to the supporting original transaction documents

Explanation:

In the case when auditing is done with the assertion of an asset i.e. existed so here the auditor would proceed from general ledger and back to the real documents i.e. supported to the business transactions

Therefore as per the given situation, the first option is correct

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National Bank quotes the following for the British pound and the New Zealand dollar: Quoted Bid Price Quoted Ask Price Value of
Snowcat [4.5K]

Answer:

$15.43

Explanation:

Following actions are required for triangular arbitrage:

Available: $ 10,000

Buy sterling pound @ 1 $ = 1.62 pounds and receive pounds 6172.84 upon conversion.

Now, sell these pounds and purchase NZ $ at the rate :

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Now, reconvert the above proceeds into US $ at the rate

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Hence profit from implementing triangular arbitrage is $10,015.43 - $10,000

= $15.43

Arbitrage refers to the prospect of earning a profit by utilizing the mispricing in two different financial markets. An arbitrageur never uses his own funds and always borrows.

Arbitrage works only in the scenario wherein the interest rate purchase parity (IRPT) does not hold good.

The strategy of arbitrage is best explained as "Buy at low price and sell at a high price".

 

7 0
3 years ago
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Answer:

1) 18.4%

2) 27.20%

Explanation:

Solution

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5 0
2 years ago
On December 31, 2020, Buffalo Company signed a $1,278,400 note to Carla Bank. The market interest rate at that time was 10%. The
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Answer:

Explanation:

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3 years ago
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Once the BAL has peaked and started to go down, people who have been drinking believe they are much more ____________ than they
sesenic [268]
Once the BAL has peaked and started to go down, people who have been drinking believe that they are much more sober than they really are.

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