A financial statement audit is the examination of an entity's financial information and accompanying exposures by a liberated auditor.
<h3>What is the main objective of the audit of financial statements?</h3>
The purpose of an audit of financial statements is to enable the auditor to communicate an opinion on whether the financial statements are prepared, in all material respects, by an applicable monetary reporting framework.
External auditors are accountable for auditing the company's financial statements and delivering reasonable assurance that they are presented fairly and following GAAP and that they recollect a true representation of the company's financial position and end of operations.
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Answer:
Keenan should use the <em><u>C. slide sorter view </u></em>option to rearrange the slides.
He can use the <em><u>C. hide slide
</u></em> option in case he does not want to show certain slides during his presentation.
The slide sorter view allows us to view the existing order of slides, rearrange, insert, delete and copy slides in a presentation. We can access the Slide Sorter view by clicking on the Presentation Views on the status bar.
If we need a slide to be part of a presentation file but do not want it to appear in the slide show, then we can use the hide slide option. This feature hides the slide from the slide show, but the the slide remains a part of the presentation. We can hide a slide by right clicking on a slide and clicking on Hide.
If ABC purchased $500 of merchandise on account. ABC's journal entry to record this transaction includes a:
Debit to Inventory of $500
Credit to Accounts Payable of $500.
Based on the information given if the company purchased merchandise of the amount of $500 on account, the appropriate journal entry to record this transaction is:
ABC journal entry
Debit to Inventory of $500
Credit to Accounts Payable of $500
(To record merchandise on account)
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Answer:
financial advantage: $3 per unit on average
Explanation:
total production cost $22
- Direct materials $8
- Direct labor $7
- Variable manufacturing overhead $1
- Fixed manufacturing overhead $6
outside supplier offered 7,000 units at $16 per unit
50% of fixed costs can be eliminated
produce the item purchase the item
units 7,000 7,000
purchase price $112,000
production cost $154,000
<u>unavoidable costs $21,000 </u>
total $154,000 $133,000
net savings $21,000
savings per unit $3