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Leviafan [203]
3 years ago
8

An auditor ordinarily sends a standard confirmation request to all banks with which the entity has done business during the year

under audit, regardless of the year-end balance. One purpose of this procedure is to:
A. seek information about loans from the banks.
B. detect kiting activities that may otherwise not be discovered.
C. request that a cutoff bank statement and related checks be sent to the auditor.
D. provide the data necessary to prepare a proof of cash.
Business
1 answer:
Virty [35]3 years ago
3 0

Answer:

A. seek information about loans from the banks.

Explanation:

A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.

Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

An auditor ordinarily sends a standard confirmation request to all banks with which the entity it is auditing has done business during the year under audit, regardless of the year-end balance. One purpose of this procedure is to seek information about loans from the banks so as to examine and verify the amount that was loaned by the bank to the business entity, as well as comparing the figures (values) to that on the balance sheet.

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The town should provide the additional mosquito control only if the marginal benefit generated for the residents of Falls Valley is equal to or greater than  $100,000.

Explanation:

The town must use the same logic as any business, they only increase their activities when MR ≥ MC, in this case the marginal revenue equals the benefits generated by the mosquito treatment.

7 0
2 years ago
Suppose the United States has two​ utilities, Commonweath Utilities and Consolidated Electric. Both produce 20 million tons of s
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Answer:

The incomplete part of the question is "Using a cap-and-trade system of tradable emission allowances will eliminate half of the sulfur dioxide pollution at a cost of $1 million per year. If the permits are not tradable, what will be the cost of eliminating half of the pollution? If permits cannot be traded, then the cost of the pollution reduction will be $1 million per year." The full question is attched as picture as well

1) Tradable permit system

Then lower MAC firm will abate the all pollution units

Then as MAC1 = $250, MAC2 = $275

Firm 1 = Consolidated electric

Firm 2 = Commonwealth utility

Then 1 will sell all permits to 2, at a price between $250 & $275.

So total cost of abatement of 20 units = MAC1 * 20

= $250 * 20  Unit

= $5,000

2) Non-tradable permits

Total cost = MC1*10 + MC2*10

= $2,500 + $2,750

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7 0
3 years ago
During July, Whitman paid $189,600 to employees for 8,900 hours worked. 4,760 units were produced during July. What is the direc
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Answer and Explanation:

The computation of the  direct labor efficiency variance is shown below;

= Standard Rate × (Standard Hours - Actual Hours)

= $22.50 × (4,760 Units × 2 hours per unit - 8,900)

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Hence, the direct labor efficiency variance is $13,950 favorable

We simply applied the above formula so that the correct amount could come

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Meeting the needs of the present through economic development without compromising the needs of future generations to meet their
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Sustainability.

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2 years ago
The ________ perspective tends to view inflation as a cost that offers no offsetting gains in terms of lower unemployment.
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The neoclassical monetarist O Keynesian attitude tends to view inflation nations as a fee that gives no offset integrated built-disintegrated integrated phrases of decreased unemployment.

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There are three inflation reasons for built inflation: call for-pull built-inflation, cost-push integrated nation, and built-inflation.In built-inflationary built-ings, inconsistently building charges necessarily reduce the purchase built integrated electricity of some customers, and this erosion of real built-income is the built integrated largest fee of built-inflation. Inflation can also distort building strength over the years for recipients and payers of fixed built-in hobby charges.

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