Answer:
Option B : 0.64
Explanation:
Inventory Turnover 2016 = COGS÷ Average Inventory
Inventory Turnover 2016= 7,204,884 ÷ Average Inventory
Average Inventory = <u>Opening Inventory + Closing Inventory</u>
2
Average Inventory = <u>11,970,656 + 10,632,462</u>
2
Average Inventory = 11,301,559
Inventory Turnover 2016 = 7204884 ÷ 11301559
Inventory Turnover 2016 = 0.64
Universal ethic can be define as actions that are taken out of duty and obligation to a purely moral ideal rather than based on the needs of the situation, since the universal principles are seen to apply to everyone, everywhere, all the time. Based on the universal ethic, we feel that it is ethical forU.S. regulation to put U.S. companies at an apparent disadvantage to their foreign competitors because in a competitive market, all the companies have to face to a fair competition. U.S. regulation should not hide the disadvantages of its own nation company and try to protect their interest.In contrast, U.S. regulation should disclose all the disadvantages to every stakeholder especially investors because with the transparency of a company’s financial statement, the investor just can make a right decision whether to invest in that company. To solve the ethical dilemma, trust <span>versus loyalty element should be consider. Instead of continue protecting U.S. companies, U.S.</span>
Answer:
C. A discipline that enhances the degree of confidence that users can place in financial statements.
Explanation:
Independent auditing includes the process of auditing by an independent auditor. It involves the process of analyzing and examining the financial transactions and records. The company's accounts, the business records, the transactions are all monitored and audited so as to avoid any unprecedented act. It do not indulge any means of profit in the whole process. Independent auditing is adopted by the shareholders in order to protect from any sort of frauds or unacceptable claims made in terms of financial records.
All the rest of the counties since when they do currency exchange their value of monewy is higher and they have to pay less
Answer:
Assigned cost= $16,080
Explanation:
Giving the following information:
Wicker baskets are produced in batches of 100 units.
Wooden slat baskets are produced in batches of 50.
Setup is required for each batch. During the most recent accounting period, the company made 8,000 wicker baskets and 2,000 wooden slat baskets. Setup costs amounted to $24,000 for the baskets produced during the period.
First, we need to determine the number of batches.
Wicker= 8000/100= 80 batches
Wooden= 2000/50= 40 batches
Proportion of batches= 80/120= 0.67
Assigned cost= 24000*0.67= $16,080
