Answer:
The value of money falls
Explanation:
When the general price of products rise, otherwise known as inflation, money can buy less of it. Therefore its value decreases.
You are the senior auditor in charge of the audit of Potholders Ltd, a retailer of garden pots and gnomes. Your audit firm has been auditor for the last four years. Historically, the firm has had a competent and qualified internal audit team upon whose work you have placed significant reliance. Management is well respected and is viewed to have high integrity, although there was some friction last year when the auditor discovered sales cut-off errors, which reduced profit and had an adverse impact on management bonuses under the new bonus scheme. While the company has been very profitable, drought and water restrictions have placed pressure on management to maintain profitability. In planning the audit you become aware of the following facts:
1. There is a cash shortage caused by recent business expansions and falls in cash inflow.
2. The accounts payable balance has increased by 30 per cent on last year.
3. Days in debtors has increased from 45 days to 63 days.
4. Due to the difficulty of maintaining sales levels, credit checks are not always carried out.
5. Internal audit department staff levels have been halved.
6. After a recent series of thefts, control over inventory has been tightened. When goods are received they are counted and inspected and, after a pre-numbered goods received advice is prepared, the goods are moved to an enclosed storage area with adequate security, including closed-circuit TV. Goods are released from the store only upon receipt of a properly authorised requisition form.
7. In the past, all purchases were made centrally at head office. However, store managers are now asked/allowed to purchase direct from local suppliers in order to obtain inventory at lower prices and avoid transport costs. Some store managers in North Queensland are importing from Indonesia.
Required:
1. Identify each component of audit engagement.
2. Outline the facts that increase inherent risks and the facts that increase or decrease control risk
The components of audit engagement from the question are:
Cost-benefitCircumvention designsapplication of controlscontrol environment The factors that increase inherent risksThe integrity of the people that are in managerial positions. The experience and the effectiveness of managers.Pressures faced by management.The type of business.Factors that affect control risks:Presence of Novel situationsThe use of Outdated controlsImproper separation of dutiesRead more on inherent risks here: https://brainly.com/question/14538724
Ken, a real estate agent, assures Lily that a certain parcel of commercial property fronts on the most highly trafficked street in Metro City. Lily buys the property and then discovers that the street has no more traffic than any other in its vicinity. Lily may recover damages for
Lily is a victim of fraudulent misrepresentation and may recover damages for her down payment.
What is Fraud?This refers to the use of false pretexts to get something from someone or close a deal and is considered a criminal offense.
Hence, based on the fact that Ken, the real estate agent was not truthful in his assertion about the traffic rate in the property he was about to sell, then Lily is a victim of fraud and may recover damages for her down payment
Read more about fraud here:
https://brainly.com/question/23294592
What does it mean to become a master adaptive learner and why is this
important?
Answer:
Hi
Explanation:
A master adaptive learner is someone that uses an approach to self-regulated learning that leads to development. This is important because this can give you a growth mindset and motivation.
Which of the following will you see in a
credit card monthly statement?
A. The interest charged for each type of service used.
B. The deductible for the interest charged to the card.
C. The annual financial plan for the year.
D. The amount of money you may get in the future.
In sequential order, the four phases of the business cycle are
The four phases that characterize the Business Cycle are:
Expansion. Peak. Contraction. Trough. What are the stages of the Business Cycle?The first stage is that of expansion where the economy grows and employment shrinks. At the peak, the economy is producing at full capacity.
The economy now starts slowing down at the contraction stage which is also known as a recession. If things don't change, this leads to a trough which is where the economy will be at its worst.
Find out more on the business cycle at https://brainly.com/question/15072650.
Answer:expansion, peak, contraction, and trough.
Explanation:
Identify each scenario as an example of expansionary fiscal policy, contractionary fiscal policy, or not an example of fiscal policy. a. An increase in the money supply is fiscal policy. b. A decrease in taxes is fiscal policy.
Based on the tenets of fiscal policy, the following are true:
An increase in money supply is not an example of fiscal policy. A decrease in taxes is expansionary fiscal policy. What is fiscal policy?Fiscal policy refers to things that the government does in order to influence the economy through spending and taxation.
When there is a decrease in taxes for instance, this is expansionary fiscal policy as the government is trying to increase the amount that people have to spend.
Find out more on fiscal policy at https://brainly.com/question/6583917.
You are asked to take over a project that is behind schedule. As you review the project, you find the delays are due to scope creep. The project uses a reasonable change management plan that seems to be working. What is the likely cause of the scope creep?
Answer:
A risk that has become reality in your project has led to a cost increase.
A risk that has become reality in your project has led to a cost increase is likely cause of the scope creep.
What is the cost?The amount of money spent by a company on the creation or fabrication of goods or services is referred to as the cost. It does not include the profit margin. From the standpoint of a seller, cost is the amount of money spent to produce a good or product.
Costs are the expenses incurred by a business in order to produce goods and/or provide services. Costs are important in business because they are the thing that drains a company's profits.
Therefore, The most likely cause of scope creep is a risk that has become a reality in the project, resulting in a cost increase.
Learn more about the cost, refer to:
https://brainly.com/question/30045916
#SPJ2
Which of these is a variable expense?
O payment for car insurance
O car payment
O rent for an apartment that has a O yearly lease
O entertainment
Answer:
Entertainment.
Explanation:
The other expenses are fixed expenses.
The variable expense among these expenses is D. entertainment.
What is a variable expense?A variable expense is an expense that changes based on the units or the number of times it is incurred in a period.
For example, entertainment expenses can be fixed per unit, to some extent, however, the total amount is not fixed but variable.
Variable expenses can be differentiated from fixed expenses, while some expenses (semi-fixed costs) combine the elements of variable and fixed expenses.
Thus, payments for car insurance, car, and yearly rent are fixed expenses, but entertainment is a variable expense.
Learn more about the nature of costs at https://brainly.com/question/15684424
GIVING BRAINLIEST!!
2 Questions
Questions Attached
1a) The pre-split market capitalization for Gm Corporation is $583.2 million ($129.60 x 4.5 million).
1b) The post-split number of shares is 11.25 million shares (4.5 million x 5/2).
1c) The post-split market price per share for GM Corporation is $51.84 ($129.60 x 2/5).
1d) The post-split market capitalization for GM Corporation is $583.2 million ($51.84 x 11.25 million).
What is a Stock-Split?A stock split divides a company's shares into more number of shares. By this division, the number of shares are increased while the share price is lowered.
For example, GM Corporation's 5-for-2 stock split increases its outstanding shares from 4.5 million shares to 11.25 million shares.
Similarly, Burger Chain's 3-for-1 stock split, will increase the outstanding number of shares while reducing the price from $48.81 to $16.27.
Data and Calculations:GM Corporation:Business initiative = 5-for-2 stock split
Price before split = $129.60
Outstanding number of shares = 4.5 million
New number of shares = 11.25 million (4.5 million x 5/2)
a) The pre-split market capitalization for Gm Corporation is $583.2 million ($129.60 x 4.5 million).
b) The post-split number of shares is 11.25 million shares (4.5 million x 5/2).
c) The post-split market price per share per share for GM Corporation is $51.84 ($129.60 x 2/5).
d) The post-split market capitalization for GM Corporation is $583.2 million ($51.84 x 11.25 million).
Burger Chain:Business initiative = 3-for-1 stock split
Price before split = $48.81
Dividend per share = $2.07
2a) The new price of one share after the split for Burger Chain is $16.27 ($48.81 x 1/3).
2b) The new dividend after the split is $0.69 ($2.07 x 1/3).
Learn more about market capitalization and stock splits at https://brainly.com/question/20377743
Respond by (1) Identifying the type of syllogism below (Categorical, Disjunctive, Conditional) and (2) explain, in your own words, why the structure of the syllogism may be correct, but the conclusion could be false.
Major Premise: If the sidewalk is wet, then it must have just rained.
Minor Premise: The sidewalk is wet.
Conclusion: Therefore, it just rained.
The syllogism used is conditional, that is, it occurs through deductive reasoning, because if the minor premise is true, the minor premise will also be true.
What is Conditional syllogism?It is a type of syllogism widely used in everyday life, but the conclusion is not always true, because despite having two true premises, the conclusion can be false, because the argumentation is not always valid, as it does not directly represent the premises.
Therefore, despite being syllogisms that follow the pattern of "If" and "then" to express a logic, the conclusion will not always be true, as this type of syllogism can also be hypothetical.
Find out more about syllogism here:
https://brainly.com/question/361872
On January 1, Boston Enterprises issues bonds that have a $1,350,000 par value, mature in 20 years, and pay 8% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months? 2. Prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. 3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 97 and (b) 103.
1. The amount of interest that Boston Enterprises will pay in cash to the bondholders every six months is $54,000 ($1,350,000 x 4%).
2. The preparation of the journal entries to record the following for Boston Enterprises is:
January 1:
Debit Cash $1,350,000
Credit Bonds Payable $1,350,000
To record the issuance of bonds at par for cash.2. b) The first interest payment on June 30:
June 30:
Debit Interest Expense $54,000
Credit Cash $54,000
To record the first interest payment.2. c) The second interest payment on December 31:
December 31:
Debit Interest Expense $54,000
Credit Cash $54,000
To record the first interest payment.3) The preparation of the journal entry for the issuance of the bonds, assuming the bonds are issued at:
a) 97:
Debit Cash $1,309,500
Debit Bonds Discounts $40,500
Credit Bonds Payable $1,350,000
To record the issuance of bonds at par at a discount.b) 103:
Debit Cash $1,390,500
Credit Bonds Payable $1,350,000
Credit Bonds Premium $40,500
To record the issuance of bonds at par at a premium.
Data and Calculations:Bonds face value = $1,350,000
Maturity period = 20 years
Issuance date = January 1
Interest rate = 8%
Interest payment = semi-annually
Interest payment dates = June 30 and December 31
Transaction Analysis:2. a) The issuance of the bonds on January 1:
Cash $1,350,000 Bonds Payable $1,350,000
2. b) The first interest payment on June 30:
Interest Expense $54,000 Cash $54,000
2. c) The second interest payment on December 31:
Interest Expense $54,000 Cash $54,000
3) The preparation of the journal entry for the issuance of the bonds, assuming the bonds are issued at:
a) 97:
Cash $1,309,500 Bonds Discounts $40,500 Bonds Payable $1,350,000
b) 103:
Cash $1,390,500 Bonds Payable $1,350,000 Bonds Premium $40,500
Learn more about bonds issuance at https://brainly.com/question/25596583
A bachelor's degree in which areas concentrates on different writing and editing styles?
A: Psychology
B: Philosophy
C: communications
the output of a process is valued at $110 per unit. the cost of labour is $50 per hour including benefits
Based on the labor cost, and output of the process, the multifactor productivity for the week is 3.06.
What is the multifactor productivity for Week 1?This can be found by the formula:
= Cost in week 1 / Value of output in week 1
Cost in week 1:
= Labor + Material + Overheads
= 12,195 + 21,392 + 8,546
= $42,133
Value of product:
= 110 x 1,173 units
= $129,030
Multifactor productivity is:
= 129,030 / 42,133
= 3.06
Find out more on multifactor productivity at https://brainly.com/question/17550779.
Madeline and Shonda are developing a project together. They just found out their client wants the finished product one month sooner than they expected. Madeline advocates eliminating the product testing step. Shonda believes they should change how the product is produced so that they can still perform all product testing. If they use the collaborating conflict style, what may occur next
Madeline and Shonda will brainstorm until a third mutually beneficial option is agreed upon if they should change how the product is produced so that they can still perform all product testing.
What is product development?Product development is the process of creating a new product or improving an existing one. It is the complete process of bringing a new product to market, renewing an existing product.
During the idea generation stage of the new product development process, it is important that all ideas that come from brainstorming are good.
Hence, if Madeline and Shonda use collaborating conflict style, they will brainstorm until a third mutually beneficial option is agreed upon.
Learn more about product development here : https://brainly.com/question/11223911
Blossom Company purchased a delivery truck for $32,000 on July 1, 2022. The truck has an expected salvage value of $4,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Blossom uses the straight-line method of depreciation. (a) Compute depreciation expense for 2022 and 2023. Depreciation Expense 2022 2023 Straight-line method$ $
The straight line depreciation expense in 2022 is $1500.
The straight line depreciation expense in 2023 is $3000.
What is the depreciation expense in 2022 and 2023?
The striaght line depreciation method spreads out the depreciation expense equally over the useful life of the project.
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($32,000 - $4,000) / 8 = $3000
The depreciation expense each year would be $3000 except in 2022 when the truck was used for 6 months.
Depreciation expense in 2022 = 6/12(3000) = $1500
To learn more about straight line depreciation, please check: https://brainly.com/question/6982430
a friend is keen to get a start in real estate and offers to work weekends for you, free of charge, as your assistant to learn the industry. Explain what you would do and why.
Hiring someone from family or friends as a real estate agent can entail some negative situations like contractual conflicts and biased outlook.
What is the role of the real estate agent?It is the professional or company responsible for connecting buyers and sellers for the sale and rental of properties and representing them in legal negotiations.
Therefore, as it is a career of great responsibility, it is essential that the professional is qualified to carry out the best opportunities without being biased by any factor.
Find out more about real estate agent here:
https://brainly.com/question/1155381
You know these facts about a company’s prior calendar year: Beginning inventory: 100 units at $10 each. Ending inventory: 50 units at $9 each. Inventory purchased for resale during the year: $2,000. What can you calculate using this information?
The item that can be calculated using this information is cost of goods sold.
What is cost of goods sold?Cost of Goods Sold (COGS) is what measure the direct cost incurred in the production of any goods or services. it is the cost of acquiring or manufacturing the products that a company sells during a period.
Cost of goods sold includes
The expenses of buying and preparing an item for saleIt is used to figure gross profit.It is an expense reported on the income statement and it is also called cost of sales.Hence, the item that can be calculated using this information is cost of goods sold.
Learn more about cost of goods sold here : https://brainly.com/question/24561653
Suppose eating four apples has a marginal benefit of $5 and the cost for each apple is $3. The optimal choice is
a. eating four apples.
b. eating more than four apples.
c. eating less than four apples.
Simone, owner of the Blue Canoe Coffee Shop, ran a report showing the identified valued customer visits the shop on average 15 times in a 30-day period. Simone now wants to break down the information further to determine how many visits she should expect in a 20-day period from a tracked value customer. How many visits should Simone expect
Answer:
30 day period the average number o…
Research from the Blue Canoe Coffee Shop revealed that the identified valued client visits the shop an average of 15 times in a 30-day period. The average number during a 30-day period.
What is research?Research is a process of systematized inquiry that entails the collection of data; documentation of critical collection; and analysis and interpretation of that data/aggregation, in accordance with suitable epistemologies set by specific occupational group fields and academic discipline scientists in the 19th and 20th centuries dug up graves and disturbed sacred sites and human remains in pursuit of their research into indigenous cultures.
As scientists need to research new things as they are willing to grave the land and find the things in it. They need to find new things from it. Research The Blue Canoe Coffee Shop did a survey that revealed the identified valued client visits the shop an average of 15 times in a 30-day period. The average number during a 30-day span.
Therefore, Research from the Blue Canoe Coffee Shop revealed that the identified valued client visits the shop on average
Learn more about the research here:
https://brainly.com/question/18723483
#SPJ2
it is used to market the product that the business is selling?
Answer:
The four Ps of marketing are the key factors that are involved in the marketing of a good or service. They are the product, price, place, and promotion of a good or service. Often referred to as the marketing mix, the four Ps are constrained by internal and external factors in the overall business environment, and they interact significantly with one another.
The 4 Ps are used by companies to identify some key factors for their business, including what consumers want from them, how their product or service meets or fails to meet those needs, how their product or service is perceived in the world, how they stand out from their competitors, and how they interact with their customers.
KEY TAKEAWAYS
The four Ps are the four essential factors involved in marketing a good or service to the public.
These are the four Ps: the product (the good or service), the price (what the consumer pays), the place (the location where a product is marketed), and promotion (the advertising).
The concept of the four Ps has been around since the 1950s; as the marketing industry has evolved, the concepts of people, process, and physical evidence have become important components of marketing a product, too.
RST Company produces a product that has a selling price of $10 per unit and variable cost of $6 per unit. The company's fixed costs are $30,000. If the company sells 15,000 units, the degree of operating leverage is
The e degree of operating leverage of RST Company given its price, costs and quantiy sold is 2.
What is the degree of operating leverage?The degree of operating leverage (DOL) measures the sensitivity of a company's operating income to changes in the demand.
DOL = [Q(P - V) ] /[ Q(P - V) - F]
Q = quantityP = priceV = variable cost F = fixed cost[15000(10 - 6)] / [15000(10 - 6) - $30,000]
60,000 / 30,000 = 2
To learn more about the degree of operating leverage, please check: https://brainly.com/question/23684386
You find a zero coupon bond with a par value of $1,000 and 17 years to maturity. If the yield to maturity on this bond is 4.9 percent, what is the price of the bond
Answer:
$4,434.21
Explanation:
When the price level in the United States rises relative to the price level of other countries, __________will rise, ________ will fall, and ________ will fall.
When the price level in the United States rises relative to the price level of other countries, imports will rise, exports will fall, and net exports will fall.
Effect of Relative Price Level on Exports and Imports
Imports would increase if the US price level falls relative to other countries' pricing because imported items became cheaper.
Exports in the United States would decrease if the price of goods in the United States increases relative to other countries.
Because import would surpass export, net export which is export minus import would fall.
Learn more about the Effect of Relative Price Level on Exports and Imports here: https://brainly.com/question/14099857.
What's the taxable equivalent yield on a municipal bond with a yield to maturity of 3.9 percent for an investor in the 35 percent marginal tax bracket
When a person has a marginal tax bracket of 35%, their taxable equivalent yield to a municipal bond is 6%.
What is the taxable equivalent yield?It can be found by the formula:
= Municipal bond / ( 1 + tax rate)
Solving gives:
= 3.9% / ( 1 - 35%)
= 3.9% / 0.65
= 6%
In conclusion, a 6% return would be an appropriate taxable equivalent yield.
Find out more on municipal bonds at https://brainly.com/question/25656290.
Imagine you are the project manager for a team that has just finalized a project and released the product to the client. Now it is time to do an evaluation, and you know that when evaluating the success of a project, there are a number of important evaluation questions to ask. Make a list of five questions that you would include on your evaluation sheet. Make sure that each question is applicable to all people working on the project. Provide a brief explanation of why you would include each question.
Answer:
What progress has been made?
Were the desired project objectives achieved?
Do the project results justify the project inputs?
Is every team member satisfied with the result?
What could have been done better?
Explanation:
That's the answer I put.
For a project manager it is the duty and task of mine to monitor the things very carefully.
What is Project Manager?
Project manager is actually that person who actually plays an leading role in actually planning and executing the projects.
So the five question are-
What progress has actually been made?
Were the actual desired project objectives achieved?
Do the project results justify the overall project inputs?
Is every team member is merely satisfied with the result?
What could have basically been done better?
Therefore Project manager are responsible and accountable for the entire projects the overall project team.
Learn more about Project Manager here:
brainly.com/question/15404120
#SPJ2
Which is a type of insurance to avoid?
O Identity theft insurance
O Disability insurance
O Long-term care insurance
O Mortgage insurance
Answer:Identity theft insurance
Explanation:
Fast Freight, an interstate trucking company, has had to raise price three times in the past year, significantly reducing sales
There's an increase in the fuel price which led to the increase in operating cost of the Fast Freight.
What is operating cost?It should be noted that operating costs are the costs that are incurred by a business during production.
From the complete question, there's a increase in the fuel price which led to the increase in operating cost of the Fast Freight.
Learn more about operating cost on:
https://brainly.com/question/14697297
A trader is long EUR/USD at 1.2780 and has a target of 1.2790, but wants to limit losses to 1.2775. If they have entered an OCO order, and EUR/USD trades below 1.2775 and then above 1.2790, what would be the resulting trade
If an OCO order is entered, and EUR/USD trades below 1.2775 and above 1.2790, the resulting trade is to: Sell at 1.2790 and again at 1.2775.
What is OCO order?OCO order which full meaning one cancels the other can be defined as a way in which both limit order as well as stop order can be place at once.
Since the trade target is 1.2790 in which the stop loss or limit loss is 1.2775 in a situation were EUR/USD trades below the limit loss (1.2775) and above the target (1.2790) the trading result will be to sell at 1.2790 and then sell again at 1.2775.
Inconclusion what would be the resulting trade is to:Sell at 1.2790 and again at 1.2775.
Learn more about OCO order here:https://brainly.com/question/14884905
A username and password is an example of a ______.
A. One-factor authentication
B. Two-factor authentication
C. Call back
D. Single sign-on
QUESTION
A username and password is an example of a ______.ANSWER
A. One - factor AuthenticationEXPLANATION
One/Single-factor authentication is the simplest form of authentication methods. With SFA, a person matches one credential to verify himself or herself online. The most popular example of this would be a password (credential) to a usernameAnswer:
One factor authentication
Explanation:
See when you use username and password option
First it asks for usernamethen for password beneath it .So it happens for once only you won't need any more authentication.
So option A is correct
Why does GAAP allow for unclear financial statements?
Answer:
GAAP in accounting helps businesses: Generally accepted accounting principles ensure businesses use a standard method to report financial information. Think of these principles as a rulebook that companies follow when creating financial statements (income statement, balance sheet, and cash flow statement).
Explanation:
