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2 years ago

what is an example of an activity that would be considered a management function for an sec audit client?

1 answer:

4 0

An example of an activity that would be considered a management function for a sec audit client is the designing of a proposal targets whereby SEC auditors are borrowing funds or issuing debt to accumulate working capital."

A management function generally involves making plans and goals about the direction of a firm.

A SEC has to deal with business operations relating to Security and Exchange Commission.

Thus, in this case, it is concluded that an example of a management function of an SEC client in the audit must relate to designing a plan that relates to SEC and the auditing process.

Learn more here: brainly.com/question/24678450

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The Jabba Corporation manufactures the "Snack Buster" which consists of a wooden snack chip bowl with an attached porcelain dip

Masja [62]

Answer:

The fixed overhead cost that can be eliminated if the bowls are purchased from an outside supplier is a relevant cost. The variable selling cost of the snack is also a relevant cost.

The correct answer is A

Explanation:

Relevant costs are costs that relate to future decisions. All variable costs are relevant for decision-making. Eliminated fixed overhead are also relevant for decision-making.

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2 years ago

The distribution of hourly sales for a local family owned store is normally distributed with a mean of $225 per hour and a stand

adell [148]

Answer:

The standard deviation of 75 dollars

Explanation:

Standard deviation, S.D.= 75 dollars; Mean, M= 225 dollars; Mean deviation, D= ?

S.D. = √ D² - M

∴ 75 = √ D² - 225

D² = 75² - 225 = 5625 + 225 = 5950

∴ D = √5950 = 24.4 dollars

From the above, it shows that, the standard deviation of 75 dollars contains the middle 95 percent of hourly sales.

6 0

3 years ago

JV, a corporation, was formed in 2013 to design and manufacture electric cars. JV is 60 percent owned by AutoCo (a car manufactu

RoseWind [281]

Answer:

a. Is JV a variable interest entity (VIE)?

Yes, JV should be considered a variable interest entity. Basically both AutoCo and ElectricCo share JV's board, but ElectricCo didn't have the money to start a company or even be part of a joint venture. ElectricCo's equity is financed by AutoCo, so ElectricCo has basically no no equity at risk. Even the debt acquired by JV is backed by AutoCo, but AutoCo does not control JV on its own.

Basically ElectricCo's contribution is technology, and AutoCo provides everything else, but both control the company with one side (ElectricCo) not having enough money to invest but doing so through financing.

b. Which entity, if any, should consolidate JV?

AutoCo must include JV in its consolidated balance sheet since it owns 60% of the company and the products manufactured by JV are sold under AutoCo's brand.

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3 years ago

On October 1, 2021, the Allegheny Corporation purchased equipment for $191,000. The estimated service life of the equipment is 1

irakobra [83]

Answer:

a). Partial-year depreciation for 2021 is $4,675

b). Partial-year depreciation for 2022 is $18,700

Explanation:

The final value of the equipment after 10 years=$4,000

Depreciation=Initial purchase value-residual value after 10 years

where;

Initial purchase value=$191,000

Value after 10 years=residual value=$4,000

Replacing;

Depreciation=(191,000-4,000)=187,000

In 10 years the equipment will have depreciated by $187,000

Average depreciation per year=Depreciation/service life

Average depreciation per year=(187,000/10)=$18,700

Partial-year depreciation for;

2021

Service life is from October-December=3 months service life

Partial-year depreciation=(3/12)×18,700=$4,675

Partial-year depreciation for 2021 is $4,675

2022

Service life is for the whole year=12 months service life

Partial-year depreciation=(12/12)×18,700=$18,700

Partial-year depreciation for 2022 is $18,700

8 0

3 years ago

The supplies account had a beginning balance of $1,804. Supplies purchased during the period totaled $3,283. At the end of the p

mixer [17]

Answer: The adjusting entry is:

Debit ($) Credit ($)

Supplies expenses 4,648

Supplies 4,648

<em>Being adjustment to account for supplies expenses incurred at year end</em>

Explanation: The supplies account is an asset account, so it has a debit balance. To arrive at the supplies expenses amount journalzed above, we have to do a movement schedule for the supplies account as follows:

Opening balance $1,804

Purchases during the period 3,283

Supplies expenses (XXX)

Balance 439

To get the value of XXX above, we do $1,804+3,283-XXX=439; using subject of the formula, XXX = $1,804+3,283-439 = $4,648.

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3 years ago