The most reliable procedure for an auditor to use to test the existence of a client's inventory at an outside location would be to: Observe physical counts of the inventory items.
<h3>
Which of the following audit procedures is best to perform to determine that company legally owns inventories?</h3>
To best ascertain that a company has properly included merchandise that it owns in its ending inventory, the auditors should review and test the: Purchase cutoff procedures. Purchase cutoff procedures should be designed to test whether all inventory Owned by the company was recorded.
Observe merchandise and raw materials during the client's physical inventory taking.
To learn more about the inventory visit the link
brainly.com/question/14184995
#SPJ4
Answer:
a) net income will increase
Explanation:
According to my research on different financial processes, I can say that based on the information provided within the question in this situation net income will increase. This is because at the time the sales invoice is issued, the client has not paid. Therefore once he pays in the future the business will receive that money and in term cause the net income to increase. Net income is what remains of a company's revenue after subtracting all costs, in other words the earnings of the business.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Im am not sure what it is but when u find out i would love to know
Answer:
$340,363.55
Explanation:
you need to calculate the future value of your deposit:
future value = present value x (1 + interest rate)ⁿ
- present value = $12,000
- interest rate = 12% / 365 = 0.032877%
- n = 40 x 365 = 14,600
future value = $12,000 x (1 + 0.032877%)¹⁴⁶⁰⁰ = $1,456,975.20
if the interest is compounded annually, the future value = $12,000 x 1.12⁴⁰ = $1,116,611.65
the difference = $1,456,975.20 - $1,116,611.65 = $340,363.55
C.
Multinationals are often known for their extraction of natural resources, and when they swoop in to harvest this new deposit of resources, what ends up happening is they indeed earn a profit, but due to repatriation of profits, the money may be sent back to the country of origin and the multinational may pressure the government to not tax the multinational.
