Answer: Moderate or low
Explanation:
Tests of Control are one by auditors to determine the effectiveness of the internal controls in the company in being able to detect accounting errors and anomalies.
If a company seems to have a moderate or low inherent risk the Auditors may or may not initiate Tests of Control due to this reduced risk.
If the company however, has either high or moderate or unusually high risk, the Auditors have to perform Tests of Control to determine where the company is going wrong.
Answer:
Acquisition cost of the Equipment = $94,000
Double declining depreciation rate = 25%
Explanation:
a. The computation of the acquisition cost of the equipment is shown below:-
Acquisition cost of the Equipment = Invoice cost + Freight costs + Installation wiring and foundation + Material and labor costs used in testing
= $90,000 + $1,100 + $2,200 + $700
= $94,000
b. The computation of double declining depreciation rate is here below:-
Double declining depreciation rate = 1 ÷ Depreciation life × Times
= 1 ÷ 8 × 2
= 0.125 × 2
= 0.25
or
= 25%
Answer:
Extortion
Explanation:
Extortion is the act of threatening or forcing another party to give you something, most of the time money.
In this case the minister in the developing country is demanding for payment before giving approval for the multi-million dollar contract.
The threat the minister is using against the company is to not approve Thier contract.
Nathanial’s company can apply for a Utility Patents patent for the new machine.
<u>Explanation:</u>
Any intellectual property can be protected by the use of a patent. Filing for legal protection is the major requirement for acquiring a patent. Patent are useful for the protection of any new process, machine or anything that is created physically. Utility patent, plant patent, provisional patent and design patent are the different types of patents that exists in US.
When a new product,machine or process is created or remodeled then Utility Patent helps to protect them. "patent for Invention" is the other name given for Utility patent. It protects your inventions from being sold or used by other industries or enterprises without your authorization.
in a business auto policy Comprehensive and Specified Cause of Loss physical damage coverage, which 2 coverages will not be written together for the same vehicle.
An organization's usage of cars, trucks, vans, and other vehicles while conducting business is covered by a business automotive insurance (BAP). Vehicles hired by the firm, owned by the employee, or leased by the company and used for business reasons may all be covered.
A legal document used in commercial auto insurance contracts is a business auto coverage form. It details the automobiles and dangers protected under the contract. Broadening endorsements are available for purchase by policyholders who need higher levels of coverage in order to further cut their risk.
Learn more about business auto policy here
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