Answer:
The auditor is entitled to collect the audit fee and is not liable for $90 000.
Explanation:
Ace & King did their job in a competent way, the fact that the company's controller was doing something illegal is not their responsibility. External auditors work with the information that is given to them and their job is limited to analyzing them and making their conclusions about them.
In this case, the controller was the person responsible for giving the information to the auditing company, so he had the chance to direct their conclusions. An external auditor is not responsible for what happens inside a firm, and if someone steals money or assets, he/she is responsible for it.
Answer:
The correct answer is gross income multiplier.
Explanation:
Gross income multiplier is the figure used as a multiplier of the annual gross income of a property to produce an estimate of the value of the property. Number used to estimate the Value of a Property. Gross property income is multiplied by this figure.
Answer:
the cash outflow for expenses is $106,000
Explanation:
The computation of the cash outflow for expenses is shown below:
Beginning balance $46,000
add; expenses $125,000
less; ending balance -$65,000
Cash outflow for expenses $106,000
Hence, the cash outflow for expenses is $106,000
Answer:
Variable overhead rate variance = $ 875 favorable
Variable overhead efficiency variance = $ 4,185 favorable
Variable overhead cost variance = $5,060 Favorable
Explanation:
Standard hours = 1 hr x 2600 units = 2600 hours
Standard rate = $3.10
Actual hours = 1,250 hours
Actual rate = $2.40
Variable overhead rate variance = ( Standard Rate - Actual Rate ) x Actual Hrs
= ( $ 3.10 - $2.40 ) x 1250 Hrs
= $0.7 x 1250
=$ 875 favorable
Variable overhead efficiency variance = (Standard hours - Actual hours) x Standard Rate
= (2600 - 1250 ) x $ 3.10
= $ 4,185 favorable
Variable overhead spending variance = Variable overhead rate variance + Variable overhead efficiency variance
= $875 + $4,185
= $ 5,060 favorable
Variable overhead cost variance = Standard cost - Actual Cost
= (2600 X 3.10) - (1250 X 2.40) = 8,060 - 3000
= $5,060 Favorable
<span>Ocean Tuna is massively overfished even though there is already an abundant supply. The reason for this is that it cost less to harvest the fish than it does to maintain a stock of the fish. This answer however, is still debated by some experts who argue that this method is not healthy for our oceans.</span>
