The answer is Audit.An audit is a study of a company's annual report-presented financial report by a third party that is not associated with the company.
What is Audit?An audit is a study of a company's annual report-presented financial report by a third party that is not associated with the company. A balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes, which include a summary of major accounting policies and other explanatory notes, are all included in the financial report.
A mix of can help the auditor find mistakes and fraud. Control tests are those that are carried out to gather audit evidence regarding the layout and operation of the accounting and internal audit systems.The auditing principles should be followed by the auditor. He must perform his duties in accordance with the accepted norms for his profession. Fraud needs to be addressed during his audit, and any errors should be corrected.Depending on how participants interact, an audit may also be classed as internal or external. Internal audits are carried out by company personnel. An outside party conducts external audits. While external audits can be either second-party or third-party, internal audits are frequently referred to as first-party audits.The 4 Phases of Audit CyclePlanning and preparation for an audit are essential to making sure that it meets the client's goals. This planning is done by interested parties including the auditor, the lead auditor, the client, and the audit programme manager.Execution of the audit: The fieldwork is another name for the audit's execution phase. It spans the period from arrival at the audit location until the exit meeting and is the data gathering part of the audit.Reporting on audits: The audit report's objective is to convey the investigation's findings.Audit closure and follow-up:To know more about Audit ,Refer to:
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created when a seller or lessor indicates the goods will conform to:
- all affirmations of fact or promise made about the goods
- any description of the goods
- any model or sample of the goods
Choose matching term
statement of opinions (puffing)
creation of an express warranty
remedies of an express warranty
warranty of no security interests
It is referred to as the construction of an express warranties when a seller or lessor states that the products will adhere to all statements of fact or promises made regarding the goods, any description of the goods, and any model or sample of the goods. The discussions between the parties in a sales transaction result in an express warranty.
Express warranties are frequently stated in a contract's written terms. A seller's "express" warranty is made possible by:
Any factual representation or assurance pertaining to the sold products is included in the basis of the agreement between the parties, resulting in a guarantee that the goods will fulfill the representation or assurance.Any description of the sold items becomes a component of the basis of the agreement between the parties, establishing a warranty that the goods will match the description.Any sample or model that is used as the foundation for the parties' agreement generates a warranty that the goods will match the sample or model.To learn more about express warranty, please refer:
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The complete question is:
An express warranty is created when a seller or lessor indicates that the goods will confirm to:
a) all affirmation of fact or promise made about the goods;
b) any model or sample of the goods;
c) any description of the goods;
d) any one of the above;
e) none of the above.
Choose matching term
statement of opinions (puffing)
creation of an express warranty
remedies of an express warranty
warranty of no security interests
g what is an example of calculability? group of answer choices dominos computation culture all of the choices are correct big data dollar menu
Dollar menu is a perfect example of calculability given among all choices.Calculability is the ability to be valued in numbers or calculable. It is concerned with the quantity.
Coupons and additional items are some examples of calculability. Similarly, the dollar menu which is composed of items available in dollar amounts that are preferred for their quantity over the dollar paid is an example of calculability.
Computational Culture is a peer-reviewed journal that is open for access to people. It is not calculated for the amount of value for something paid or bought. Big data is large sets of data which is difficult to measure and hence it is not calculable. Dominoes as a business offers a delivery-related offer but is not highlighted for the quantity it provides or a service that can be measured like others.
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an individual is being paid to sell securities and is being compensated on a commission basis. the commissions are being paid by both the broker-dealer and the issuer. this person is defined as a(n):
A person is being paid to sell securities as well as being compensated on a commission basis. The amount of the commissions are being paid by both the issuer and the broker-dealer. This person is referred to as "an agent of both the broker-dealer as well as the issuer".
An agent is referred to as any individual who represents a broker-dealer and issuer in effecting or attempting to effect sales or purchases of securities. Such as the case with the given scenario, where an individual sells securities and receives commissions. The individual receives the commissions from both the issuer and the broker-dealer, so as the individual is known as the agent of both the issuer and the broker-dealer.
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sean is one of several general partners who own pints and cans, a small chain of bar and grills located in illinois and indiana. sean is interested in converting the partnership into a master limited partnership. if he convinces other partners to go along with his idea, pints and cans will select one: a. offer shares of ownership that are traded on a stock exchange much like a corporation. b. pay its taxes like a corporation. c. begin to operate much like a sole proprietorship. d. have to change its name to include the term ltd. in its title to indicate its owners have limited liability.
Offer ownership stakes that can be traded like stock on a stock exchange, just like a corporation would.
comparing sole proprietorships to general partnerships?An individual owns a sole proprietorship, whereas there are two or more owners in a partnership. Common business entities that are easy for owners to create and maintain are partnerships and sole proprietorships. The number of owners in each is the primary distinction between the two.
What are the four benefits of a partnership?The opportunity to close the knowledge and skill gap, the potential for more money, cost savings, more business opportunities, improved work-life balance, moral support, fresh viewpoints, and potential tax advantages are just a few benefits of partnership.
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Mary is selling chocolate bars to raise money. She earns $3 for each solid milk chocolate bar sold and $4 for each caramel-filled bar sold. If m represents the number of milk chocolate bars sold, and c represents the number of caramel bars sold, which of the following expressions represents the amount of money that Mary has raised
For financial support, Mary is selling chocolate bars. Mary has raised 3m + 4c, which is how much is represented by expressions.
What is the amount of money to get mary ?For financial support, Mary is selling chocolate bars. She receives $3 for each bar of solid milk chocolate sold and $4 for each bar with caramel filling. If m is the quantity of milk chocolate bars sold and c is the quantity of caramel bars sold, then the phrase for the amount of money raised by Mary is 3m + 4c.
Making the slope the coefficient for the associated variable is now all that has to be done. The price of the milk chocolates is $3, so the number 3 is placed before the letter M. The price of the caramel chocolates is $4, so the number 4 is placed before the number 4. There will be no negatives or minus signs in the calculation because both slopes are positive, W .
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which of the following statements regarding the different types of executive coaching is correct? select one: a. resolution coaching helps workers overcome a problem with their job performance. b. strategic coaching promotes change in workers that can change when a new worker is sought for a job position and can not be found. c. development coaching is ideal in situations of change in which a worker should perform a new task. d. retention coaching prevents future problems and is responsible for training/developing workers to prevent a problem.
The following statements regarding the different types of executive coaching is correct resolution coaching helps workers overcome a problem with their job performance.
What does a job well done mean?Job performance refers to how well a person does their job. According to Campbell (1990), job performance is a means to an end—a goal or set of goals—within a position, a role, or an organization, but not the actual results of the actions taken there.
How are work results evaluated?scales of graphic ratings. An employee's relative performance in particular areas is typically rated using a graphic scale that uses sequential numbers, like 1 to 5 or 1 to 10.
feedback from all sides.
Self-Evaluation.
Objective-based Management (MBO).
Checklists.
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Below you will find the yearly average values of the Dow Jones Industrial Average, the most popular index of stock market prices, for five different years. The Consumer Price Index for each year (on a base of 1982- 1984 = 100) can be found on the inside back cover of this book. Use these numbers to deflate all five stock market values. Do real stock prices always rise every decade?Year Dow Jomes Industrial Average1970 7531980 8911990 2,8792000 10,7352010 10,663
The concept here is the Consumer Price Index, which is the price of the weighted average basket of consumer goods and services purchased by households.
The Consumer Price Index (CPI) is a measure of the average change over time in the prices that urban consumers pay for a basket of consumer goods and services.
Given :
Consumer Price Index for each year (on a basis of 1982- 1984 = 100): as given in the book:
Real price = average price/consumer price index *100
year Average CPI Real price
1970 753 38.80 1940.72
1980 891 82.4 1081.31
1990 2,879 130.7 2202.75
2000 10,735 172.2 6234.03
2010 10,663 218.1 4889.04
No, the true price of the Dow Jones is not rising steadily decade after decade. There has been a mixed trend over the decades.
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If elaine has 4 exemptions and makes $520 per week, what will her income tax withholding be according to the following table?.
The income tax withholding would be $2
Since Elaine makes $520 /week, we want to look at the row where Column A = 500 and Column B = 600
Because 520 > 500 but 520 < 600
Now since she has 4 exemptions, on this 500- 600 row, go over to the column under "4" and you will find the number "2"
this means $2 withheld per week
For workers, keeping is how much federal income tax withheld kept from your check. How much annual expense your manager keeps from your ordinary compensation relies upon two things:
The sum you procure.
The data you give your manager on Form W-4.
For assist with your portion, you might utilize the Tax Withholding Estimator .You can utilize the Duty Keeping Assessor to gauge your 2020 annual expense. The Expense Keeping Assessor thinks about that gauge to your ongoing duty keeping and can assist you with choosing if you want to change your portion with your boss.
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in a new margin account, a customer sells short 1,000 shares of abc at $15 per share and makes the required regulation t deposit. if the stock drops to $12 per share, what is the equity in the account?
in a new margin account, a customer sells short 1,000 shares of abc at $15 per share and makes the required regulation t deposit. if the stock drops to $12 per share, The equity in the account is $3,000.
Equity is not accounted for as either an asset or a liability on a company's financial accounts. Liabilities are subtracted from assets to get at fairness. On the stability sheet of an agency, equity is considered.
Earnings from inventory dividends are referred to as "fairness profits." A dividend, which is often paid from a corporation's net income, is essentially a reward given to shareholders for their investment in the company.
Equity is also known as capital and shareholders fairness, or internet genuine worth. This equity will turn into a valuable asset since a homeowner can borrow against it if necessary. It can be determined by subtracting all liabilities from the total cost of an asset: ((equity = assets – Liabilities).
If the market value falls to $12,000,
equity= $15,000 -$12,000 = $3,000.
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the price of bread has decreased by 5 percent, leading to an increase in the quantity demanded of butter by 1 percent. the cross-price elasticity of demand between bread and butter is:
The price of bread has decreased by 5 percent, leading to an increase in the quantity demanded of butter by 1 percent. The cross-price elasticity of demand between bread and butter is -0.2.
What is Cross elasticity of demand?
Cross elasticity of demand describes how changes in one good's pricing might impact how much of another is demanded. Depending on whether the two items are complementary, substitutable, or unrelated to one another, this connection may change.
What is the cross-price elasticity of demand formula?
The following equation can be used to determine the cross-price elasticity of demand between two different goods or services: Cross price elasticity, where products A and B are different offerings, is calculated as percentage change in demand of product A divided by percentage change in price of product B.
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during the current year, pacific co. experienced a loss on the sale of equipment that was used to manufacture its products. pacific prepares its statement of cash flows using the direct method. how should pacific report the loss on the sale of equipment on its statement of cash flows?
Based on the company's net income, the operating activities cash flow is adjusted for items that have a different impact on cash than they do on net income. The Propensity Company's income statement for the year ended December 31, 2018, shows a net income of $4,340. This sum appears as Net Income in the Cash Flows from Operating Activities section of Propensity's statement of cash flows.
What is net and gross income?
Depending on whether a corporation or a wage employee is being discussed, the terms gross and net income have various connotations. Gross margin, or sales less cost of goods sold, is the equivalent of a company's gross income.
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When a consumer has evaluated alternatives in the purchase decision process and selected one, he still must determine from whom he will buy andO level of involvementO increasesO when to buyO countertrade
When a consumer has evaluated alternatives in purchase decision process and selected one, he still must determine from whom he will buy and when to buy
Once a consumer has narrowed down his options and chosen one, he still needs to decide who to buy from, when to buy from, and how to pay for the good or service. He may have several options for where to buy it, when to buy it, and how to pay for it, depending on the good or service.
The consumer can be able to buy the item offline, online, or from a different merchant. He might be given the choice to use a credit card, pay with cash, or purchase now and pay later. Making these choices enables the buyer to discover the greatest deal and get the results they want from the purchase.
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the costs of direct materials, direct labor, and overhead of completed products ready for sale are known as:
The direct costs of materials, direct labor, and overhead associated with finished and available for sale units comprise finished goods inventory.
As a result, "Inventory of finished goods" is the correct response.
Option E is correct .
Finished goods inventory :The direct costs of materials, direct labor, and overhead associated with finished and available for sale units comprise finished goods inventory.
The raw materials, direct labor, and overhead costs of each unit sold are included in the cost of goods sold, not the ready-for-sale units.As a result, the first choice is wrong.
Cost of goods sold :The raw materials, direct labor, and overhead costs of each unit sold are included in the cost of goods sold, not the ready-for-sale units
The costs of raw materials, direct labor, and overhead for unfinished units—not completed units—are included in work in process inventory.As a result, the second choice is wrong.
Work in progress :The costs of raw materials, direct labor, and overhead for unfinished units—not completed units—are included in work in process inventory.
The costs of purchasing raw materials that will not be used in the production process are referred to as the raw materials inventory.As a result, the third option is wrong.
Raw material inventory :The costs of purchasing raw materials that will not be used in the production process are referred to as the raw materials inventory.
Question is incomplete,missing part is below :
The costs of direct materials, direct labor, and overhead of completed products ready for sale are known as:
A. Cost of goods sold
B.Work in process inventory
C.Raw materials inventory
D.Factory supplies
E. Finished goods inventory
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Which type of business would be most likely to use a job order costing system? A. a law firm specializing in injury law b. a beverage manufacturer c. an electric car producer d. a wood milling company
A law firm specializing in injury law Is type of business would be most likely to use a job order costing system
What is job order costing system?The cost of manufacturing each product is determined using the job order costing approach. When a manufacturer creates a range of unique goods and has to determine the cost of performing each task individually, they typically use this costing method. Accounting technique known as "job costing" records expenses and income by "job" and allows for uniform reporting of profitability per work. An accounting system must allow job numbers to be allocated to specific items of expenses and revenues in order to support job costing. One minor work that a company might price using job order costing is a customer's custom furniture order.Job order costing can be used to handle specific client accounts by enterprises in the white-collar sector of the economy, such as law firms, accounting firms, and private investment firms. Accounting firms, for instance, may view every client as a separate job.To learn more about job order costing system refer to:
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a small wisconsin agency wants to buy a quarter-page ad in golf digest magazine for a travel agency that specializes in preparing all-inclusive, hassle-free golf travel packages. the ad would cost $300. how much money would the agency send the publication to pay for the ad?
The agency would send the publication $255 to cover the cost of the advertisement.
How much of the media does marketing receive as commission?The advertising sector can only make the significant expenditures in people and technology that are required, according to the AAAI, because of the 15% agency fee that is paid to them by the media.
What do typical agency fees entail?The industry standard for agencies is a 15% commission. The vendor's net charge may be increased by a 15% agency commission-based fee if the advertising medium does not give a commission. The formula net dollar amount x 1.1765 can be used to determine the advertising's gross revenue.
Cost of ad= $300
Agency fees= 15%
publisher is sent by the agency to pay for the advertisement= $300 X 15%= $255.
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in this phase, loose ends are tied and the project is transitioned to a daily work environment. select one: a. define b. measure c. analyze d. improve/design e. control/verify
(e) Control/Verify is the last phase of the DMAIC process. This phase is when the team checks to make sure the changes have been implemented and that the desired results have been achieved.
What is the purpose of the Control/Verify phase of the DMAIC process?The purpose of the Control/Verify phase of the DMAIC process is to check that the changes have been implemented and the desired results have been achieved. This phase also involves monitoring the process over time to ensure that the results are sustained and that any changes or adjustments needed are identified and addressed.
What is the first phase of the DMAIC process?The first phase of the DMAIC process is the Define phase. This phase is used to identify the project objectives, scope, and resources needed to complete the project. It is also used to create a plan for achieving the desired results.
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what are some of the major obstacles encountered when converting to lean/just-in-time operations from traditional methods? (select all that apply.) multiple select question. suppliers may resist for various reasons--frequent deliveries, burden of quality, etc. workers may be uneasy about learning statistics for six sigma process control. management may resist because lean shifts some of their responsibilities to workers. the organization's culture may not be compatible with the lean philosophy.
Because Lean transfers part of their duties to employees, management may object. The Lean philosophy could not be consistent with the organization's culture.
What challenges does lean production face?When implementing lean manufacturing, organisations may encounter the following difficulties: inadequate backing from upper executives. Limited workforce, inadequate staff training, and a lack of suitable tools failure to keep track of development (Insufficient performance data)
What are the two main reasons why lean initiatives fail?Nearly all lean experts concur that top leadership and ownership are the primary causes of implementation failures. In the end, these individuals are accountable for everything that does or does not occur within the business.
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nims defines as the exchange of information systematically among principals who have or may have a need to know certain information to carry out specific incident management responsibilities?
Coordination is the exchange of information systematically among principals who have or may have a need to know certain information to carry out specific incident management responsibilities.
When more than one response agency is in charge of the situation, ICS's Unified Command application is employed. Cross-political jurisdictional incidents occur. Each community's major response agencies' management staff may take part in a unified command.
The public information officer is in charge of communicating with the general public, the media, and/or other agencies who need information about an occurrence.
The Event Commander (IC) is in charge of managing the situation as a whole and chooses which posts on the General Staff or Command should be filled in order to keep the incident under control and give it the required attention.
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