Answer:
Explanation:
Step 1:
the auditor is required to provide reasonable assurance for the financial statement audited.To provide such reasonable assurance,appropriate evidence must be obtained to confirm that no material misstatement material is present in the financial statement
Step 2:
For each statement select true or false in the following manner
a. A recent improvement in computer hardware is the ability to automatically produce error listings. Previously, this was possible only when provisions for such a report were included in the program.
FALSE
b. The control of input and output to and from the information systems department should be performed by an independent data control group.
TRUE
c. An internal-audit computer program that continuously monitors IT processing is a feasible approach for improving internal control in OLRT systems.
TRUE
d. An internal label is one of the controls built into magnetic tape drive hardware by the hardware manufacturers.
FALSE
e. A limit test in a computer program is comparable to a decision that an individual makes in a manual system to judge a transaction's reasonableness.
TRUE
f. A principal advantage of using magnetic tape files is that data need not be recorded sequentially.
FALSE
g. A major advantage of disk files is the ability to gain random access to data on the disk.
TRUE
h. The term grandfather-father-son refers to a method of protecting computer records rather than to generations in the evolution of computer hardware.
TRUE
i. When they are not in use, tape and disk files should be stored apart from the computer room under the control of a librarian.
TRUE
Answer:
See explanation
Explanation:
Red Flash Photography
Journal Entries
1. Debit Cash $29,000
Credit Common Stock $29,000
(issuing common stock for cash that will increase the cash)
2. Debit Cash $44,000
Debit Accounts Receivable $39,000
Credit Service Revenue $83,000
(Provided services on account and cash)
3. Debit Salaries expense $32,000
Credit Cash $32,000
(Paid salaries to workers)
4. Debit Prepaid Rent $21,000
Credit Cash $21,000
(Paid rent in advance for cash)
5. Debit Supplies $31,000
Credit Accounts payable $31,000
(Purchase supplies on account means liability will increase)
6. Debit Dividends $2,900
Credit Cash $2,900
(Paid cash dividends to the shareholders)
Answer:
The correct answer is because it determines which contracts could be voidable
Explanation:
A unilateral mistake is when just one party to a contract is mistaken as to the terms contained in a contract.
Commonly, the unilateral mistake does not make a contract void; The mutual mistake makes it.
They must have good communication manners and be polite
Answer:
Option A, buy less of X and more of Y is correct.
Explanation:
The amount that Mr. Rational is going to spend = $27
Quantity of good X = 5 units
Price of good X (Px) = $3 per unit
Marginal utility of 5th unit of X (MUx) = 30
Quantity of good Y = 6 units
Price of good Y (Py) = $2 per unit
Marginal utility of 6th unit of Y (MUy) = 18
So good x will be substituted for y in order to reach the consumer equilibrium.
Thus, Option a. buy less of X and more of Y is correct.
