Answer:
The value of X+Y=2,769
Explanation:
According to the given data we have the following:
x=present value of 2,000
=2,000/(1+0.06)=1,886.79
y=present value of 1,000
=1,000(1+0.07)∧2=873.44
x+y=1,886.79+873.44
=2,760.23
=2,769
The value of X+Y=2,769
After the balance sheet date with duplicate sales invoices and shipping documents.
<h3 /><h3>What is the risk of material misstatement?</h3>
The risk of major misrepresentation is the possibility that an organization's financial statements contain significant errors. Auditors evaluate this risk at the two levels listed below. The level of detection risk is reduced when the danger of material misstatement is high (increases the amount of evidence obtained from substantive procedures). The risk of an audit is decreased as a result.
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Answer:1.
1. Key conditions for the company to be "auditable" :
<u>- Transparency in the company's financial statements </u>
Meaning the company should let the auditors acess the full financial information taht written by the company, without any information to hide.
<u>- The company's control environment </u>
This mean that the company should be able to inform the set of procedures that it implemented for the operation
<u>- Management is aware of possible risks and are following steps to minimize the risks ethically</u>
This means that the management shouldn't overblown their expense to increase their deductible or overblown their asset value to obtain investors.
<u> - Good communication between the auditors and the management</u>
<u>2.</u> What uncommon challenges to "auditability" are posed by Chinese companies?
Unlike united states government, the Chinese government tend to have a really strong influence within the private sector. It has a significant amount of ownership toward chinese largest corpration.
This make it really hard for auditors because those companies often required by the government not to spill crucial information of the company. That information might compromise the Chinese government.
Answer:
b) to reduce shirking
Explanation:
In this model, shirking is defined as a lack of employee work effort. An employee's tendency to give less than full effort represents shirking, with greater deviations from 100 percent effort representing greater levels of. shirking.
The correct answer is C. title insurance
