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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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A predominant, and often conservative, view of the world economic system today holds that the free market is the ideal mechanism

Simora [160]

Laissez-Faire Economics?

It's an economic system where the free market exists without government intervention.

5 0

3 years ago

You are given the following information for Ted’s Dread Co.: sales = $82,000; costs = $57,700; addition to retained earnings = $

vazorg [7]

Answer:$6,843.33=Depreciation

Explanation:

To Calculate the depreciation expense for the company

Net income = Dividends + Addition to retained earnings

Net income = $3,320 + 7,500

Net income = $10,820

Also,

Net income = Taxable income - (Taxable income)(Tax rate)

Net income = Taxable income(1 - Tax rate)

Therefore,

Taxable income = Net income / (1 - Tax rate)

Taxable income = $10,820 / (1 - 0.25

Taxable income = $10,820/0.75 =14,426.67

But

EBIT -interest = taxable income,So

EBIT = Taxable income + Interest

EBIT = $14,426.67+3,030

EBIT = 17,456.67

EBIT = Sales - Costs - Depreciation

$17,456.67 = $82000 - 57,700 - Depreciation

$17,456.67= 24,300-Deprecistion

Depreciation =24,300-17456.67 =

$6,843.33

4 0

3 years ago

Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes tha

gladu [14]

Answer:

1. The expected cost of production for each tire sold is $0.013 per tire.

2. Probability that Grear will refund more than $50 for a tire is 0.0107

Explanation;

1. Mileage is 36,500 miles

Standard deviation is 5,000 miles

Observed miles is 30,000 miles

100 miles failed at $1

Therefore;

(36,500 - 30,000) /5,000 = 1.3

To get the cost of production,

Since 100 miles equals $1 if fail

1.3 × 1 / 100

= $0.013 per tire.

2. P(Z<25,000 - 36,500/5,000)

= P(Z<-11,500/5,000)

=Z<2.3

Therefore,

1-0.9893

=0.0107

The probability that Grear will refund more than $50 for a tire is 0.0107

3 0

3 years ago

The warning on cigarette packages about the health implications of smoking is an example of: conflict of interest. fairness and

Marta_Voda [28]

The warning on cigarette packages about the health implications of smoking is an example of <u>"communications".</u>

Health warnings on cigarette bundles furnish smokers with widespread access to data on the dangers of smoking.

Tobacco package warning messages are cautioning messages that show up on the bundling of cigarettes and other tobacco items concerning their health impacts. They have been actualized with an end goal to improve the general population's consciousness of the destructive impacts of smoking.

4 0

3 years ago

___________ is a field that promotes a business or a service, helping to build that brand and bring new customers

Alex_Xolod [135]

Answer:

Branding.

Explanation:

Branding is a field that promotes a business or a service. Branding helps business to give voice to their business. It is through branding that customers recognizes your business.

It is branding that sets your company apart from your competitors. Through branding, the business is able to reflect its values, qualities, strengths, and characteristic.

Therefore, the correct answer is branding.

5 0

3 years ago