Answer and Explanation:
The computation is shown below:
For account receivable turnover ratio
Accounts Receivable Turnover is
= Sales ÷ Average Receivables
Beginning Accounts Receivable $21,400
Add: Sales $105,300
Less: Cash Receipts $81,300
Ending Accounts Receivable $45,400
Now
Accounts Receivable Turnover is
= $105,300 ÷ ($21,400 + $45,400) ÷ 2
= 3.15 times
Now days to sell is
= 365 ÷ 3.15 times
=116 days
Answer:
b. As inherent risk goes up, audit risk goes down.
Explanation:
Inherent risk is the risk which is present before applying any control, and audit risk is the that the auditor expresses inappropiate audit opinion when the financial statements are materialy misstated.
Thus, when the inherent risk is <em>high</em>, the auditor keeps the audit risk at <em>low </em>level to perform more subtantative procedures.
<span> Revenue </span>accounts or <span>Expense </span><span>accounts</span>
Answer:
B) False
Explanation:
That would be a monopoly (only one supplier).
An oligopoly is a market where there are very few suppliers, and competition is very limited since the barriers to entry are very significant.
For example, the automobile industry is an oligopoly. There are only a few car manufacturers in the world, and they all are very large corporations. It costs hundreds of millions of dollars to introduce a new car model, and every time that happens, the corporations must carry on expensive advertising and promotional campaigns.
Based on the options given, the most likely answer to this query is A. Add information systems.. It would be much more efficient if the business uses informations system to automate its functions Thank you for your question. Please don't hesitate to ask in Brainly your queries.
