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3 years ago

Which of the following is true with respect to the auditors' report on summary financial statements?

Business

1 answer:

son4ous [18]3 years ago

8 0

Answer:

D) The report will express an opinion on whether the summary financial statements present the financial condition, results of operations, and cash flows in accordance with generally accepted accounting principles.

Explanation:

The only statement which is true is that which states : The report will express an opinion on whether the summary financial statements present the financial condition, results of operations, and cash flows in accordance with generally accepted accounting principles.

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The law of diminishing returns is often used to analyze the ideal amount of which factor of production?

WINSTONCH [101]

The correct answer to the question is, Labor.
Hope that help. ♥♥♥

5 0

3 years ago

Read 2 more answers

The railroad emits sparks from its engines which sometimes ignite fires on the farm. There is a 1/10 chance of a fire, and when

ale4655 [162]

Answer:

$5,000

Explanation:

$50,000 *1/10 = $5,000 cost per chance of fire occurring

6 0

3 years ago

Read 2 more answers

Holding other factors constant, a stock portfolio has more volatility when its individual stock volatilities are ________ and i

Gwar [14]

Answer:

Holding other factors constant, a stock portfolio has more volatility when its individual stock volatilities are high and its individual stock returns have high correlations.

Explanation:

In Modern Portfolio Theory (MPT), the individual behavior of each investment is viewed and evaluated based on how it affects the overall portfolio's risk and return. For this particular case, all individual stock volatilities are high, which means the overall portfolio volatility is high as there is no diversification. Adding to that, having highly correlated stock return increases the volatility of the portfolio even more, as there is a higher chance of them all declining at once.

8 0

3 years ago

Q 4.26: on december 31, 2017, before any year-end adjustments, canterbury shoe repair's prepaid insurance account had a balance

melamori03 [73]

Calculation of adjusted balance for prepaid insurance at December 31, 2017:

It is given that on December 31, 2017, before any year-end adjustments, Canterbury shoe repair's prepaid insurance account had a balance of $3,500. It was determined that $2,200 of the prepaid insurance had expired.

So the adjusted balance for prepaid insurance at December 31, 2017, shall be (3500-2200) = $1,300

3 0

3 years ago

The following data exists for Carley Company. 20182017 Accounts Receivable$50,000$70,000 Net Sales500,000410,000 Calculate the a

Elena-2011 [213]

Answer:

8.3 times

43.8 days

Explanation:

Accounts receivable turnover measure the average times the company received their receivable, It measure the efficiency of the company regarding collection from customers. Turnover will be higher if company has low ratio of receivables to sales value.

Average Receivable can be calculated as below

Average Receivable = (Accounts Receivable at the beginning of the year + Accounts Receivable at the end of the year) / 2 = ($50,000 + $70,000)/2 = $60,000

Net Sales = $500,000

Formula for Accounts receivable turnover is as follow

Accounts receivable turnover = Net Sales / Average Receivable

Accounts receivable turnover = $500,000 / $60,000 = 8.3 times

Days Sales Receivable is also know as Days receivables. It is an method of estimation of a company for the receivables value. it measure the numbers of days at average account receivable take after sales to convert into cash.

Formula for Days Sales Receivable is as follow

Days Sales Receivable = ( $60,000 / $500,000 ) x 365 = 43.8 days

6 0

4 years ago