l. martinez, cpa, was auditing a client, marvelous retail company and selected a sample of inventory items from the perpetual records and vouched additions to receiving reports. this procedure was intended to satisfy which pcaob assertion?

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Answer 1

The purpose of the technique was to substantiate assumption (C) Existence or occurrence. is the best choice.

Existence or occurrence: what are they?

Existence or occurrence: At a given time, the industry's debts are existent, and the agreements took place over that time. Concreteness - The reports contain all operations and entities that are required to be disclosed.

In accounting, how does the term "occurrence" mean?

Occurrence here denotes that the trades reported or documented truly took place and have to do with the organization. For instance, a documented transaction could reflect commodities that were received and charged since the period after being requested by legitimate clients.

Which three different kinds of existence are there?

These 3 sorts of existence are available.

Anicca 1. Dukkha no.2  Anatta 3.

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Related Questions

if a paper mill shuts down its operations for three months so that it produces nothing, its will be reduced to zero? variable costs fixed costs opportunity costs total cost

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if a paper mill shuts down its operations for three months so that it produces nothing, its variable costs  will be reduced to zero.

A variable cost is a company fee that adjustments in proportion to how lots a company produces or sells. Variable prices increase or decrease depending on a enterprise's production or sales extent—they upward thrust as manufacturing increases and fall as production decreases.

Variable costs are fees that alternate as the amount of the best or service that a enterprise produces modifications. Variable expenses are the sum of marginal expenses over all gadgets produced. They also can be considered everyday fees. fixed costs and variable costs make up the two components of total fee.

Variable costs are the sum of all labor and substances required to supply a unit of your product. Your total variable value is equal to the variable value according to unit, multiplied by using the range of devices produced. Your common variable cost is same in your overall variable fee, divided via the variety of devices produced.

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When goods are imported from one country and sold to another country then it is called?

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When goods are imported from one country and sold to another country then it is called entrepot trade.

A port, city, or trading post known as an entrepôt or transshipment port allows for the importation, storage, or dealing of goods with the goal of later exporting them. Due to the growth and spread of long-distance trade, such cities frequently appeared and developed into commercial cities. A country is said to have a favorable balance of trade, or a trade surplus if its exports surpass its imports. Conversely, a negative trade balance, or trade deficit, develops if imports outpace exports.

A favorable trade balance was required, in accordance with the mercantilist economic theory, to finance a nation's purchase of imports throughout the 16th to 18th centuries in Europe.

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___consists of all the activities concerned with obtaining money and using it effectively

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Finance Management consists of all the activities concerned with obtaining money and using it effectively.

In order for the "organization to have the means to carry out its aim as satisfactorily as feasible," which is sometimes defined as maximizing the value of the company for investors, financial management is the business function that deals with profitability, expenses, cash, and credit. Consistency, promptness, justification, documentation, and certification are the five guiding principles. Investment, finance and dividend decisions are the three categories of financial management decisions. The maximization of shareholder wealth is the aim of financial management.

This is the stock price for publicly traded corporations and the market value of the owner's equity for privately held businesses. However, increasing earnings and lowering risk are two of the most typical objectives of financial management.

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What type of account is held by bank account holders who are allowed the facility of overdrawing on their account?

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A borrowing option that enables you to borrow money using your current account is an overdraft limit. Overdrafts come in two flavours: organised and unarranged. A pre-set limit known as a "arranged overdraft" enables you to spend more money than you have available in your current account.

An overdraft happens when more money is taken out of a current account than is available. This could be cash in a financial system's bank account. It might be underground water stored in an aquifer. In these cases, the account is said to be "overdrawn." If there has been a prior agreement with the account provider for an overdraft and the amount overdrawn is within the allowed overdraft limit, interest is frequently imposed at the agreed rate in the economic system. If the negative balance is greater than the limits set, higher fees and interest rates could be charged.

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obviously financial intermediaries need to collect money from a variety of sources so they can redirect it where it can be used efficiently. the primary source of funds for a financial intermediary are known as its part 2 a. assets. b. capital controls. c. income. d. liabilities.

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The primary source of funds for a financial intermediary are known as its liabilities.

A commercial bank, investment bank, mutual fund, or pension fund are examples of organizations that serve as the middleman between two parties in a financial transaction.

Consumers as a whole gain from financial intermediaries' safety, liquidity, and economies of scale in the banking and asset management industries.

Disintermediation is significantly less of a concern in other areas of finance, such as banking and insurance, even though it does threaten to abolish the financial intermediary in other areas, such as investing.

Deposits from the general public are not accepted by a non-bank financial intermediary. The middleman may offer leasing, factoring, insurance policies, or other financial services.

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what is a reason several members of the european union, including the united kingdom, sweden, and denmark, chose not to adopt the euro?

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An economy can combat growing inflation by increasing interest rates. Non-euro countries can do this through the monetary policy of their autonomous regulators.

The Eurozone's member nations might not always have that option. This was the main factor in several European Union members' refusal to embrace the Euro.

For instance, in response to the financial crisis, the European Central Bank increased interest rates out of concern for Germany's high inflation. While Italy and Greece suffered due to the high-interest rates, the decision benefited Germany.

The 2007–2008 financial crisis exposed several of the euro's flaws. Economies in the eurozone suffered differently (examples are Greece, Spain, Italy, and Portugal).

These nations were unable to implement monetary policies that would best support their respective recoveries because they lacked economic independence. The evolution of EU measures to handle the monetary issues faced by various countries while maintaining a single monetary policy will determine the future of the euro.

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A publishing company's cost, in thousands of dollars, is represented by the function c(x)=x+3200 and its revenue, in thousands of dollars, is represented by the function r(x)=3x. Each book is represented by x. How much will the company profit if they sell 10000 books? round your answer to the nearest dollar, and do not include the dollar sign in your answer.

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The company will profit $15,800 if they sell 10,000 books.

The company's cost for selling 10,000 books is:

c(10000) = 10000 + 3200 = 14200

The company's revenue for selling 10,000 books is:

r(10000) = 3(10000) = 30000

The company's profit from selling 10,000 books is the difference between its revenue and its cost:

Profit = Revenue - Cost

= 30000 - 14200

= 15800

Therefore, the company will profit $15,800 if they sell 10,000 books.

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The mutual interdependence that characterizes oligopoly arises because:
A) the products of various firms are homogeneous.
B) the products of various firms are differentiated.
C) a small number of firms produce a large proportion of industry output.
D) the demand curves of firms are kinked at the prevailing price.

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The correct answer is C) a small number of firms produce a large proportion of industry output. Because a small number of companies account for a significant amount of industrial output, oligopolies are characterized by mutual dependency.

a circumstance in which a change in one company's pricing strategy (or other strategy) will have an impact on the sales and earnings of another company (or other companies); any company that makes such a move can anticipate how its competitors will respond.

High obstacles to entry, the capacity to determine prices, firm interdependence, maximized revenues, product differentiation, and non-price competition are all traits of an oligopoly. Additionally, because the only other large players in the industry are the current players, a new entrant's options are further limited by the high expenses associated with entering the market.

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you write one jnj february 70 put for a premium of $5. ignoring transactions costs, what is the break-even price of this position? a. $65 b. $75 c. $5 d. $70

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The formula (Total fixed cost/Production unit volume) + Variable Cost per unit is used to get the break-even price.

=70+5=75

The break-even point (BEP) is the point at which total costs and total revenues are equal, or "even," in economics, business, and particularly cost accounting. Although opportunity costs have been paid and capital has received the risk-adjusted, projected return, there is no net loss or gain, and one has "broken even." In other words, all necessary expenses are covered, and neither a profit nor a loss is realised. The break-even point (BEP) or break-even level denotes the sales amount necessary to cover all costs, including both fixed and variable costs to the business, whether expressed in unit  terms or revenue terms. At the break-even threshold, there is no overall profit. A company can only surpass the break-even point if its sales are at least as much as its costs.

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a zero-based budget is a budget that is continuously updated so that the next 12 months of operations are always budgeted. True or False

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A zero-based budget is a budget that is continuously updated so that the next 12 months of operations are always budgeted.

The given statement is False.

With zero-based budgeting (ZBB), instead of starting with the prior budget and making adjustments as needed, all expenses must be justified for a new period or year starting from zero.When your income minus your expenses is zero, you are using a zero-based budget.The zero-based budgeting (ZBB) methodology helps companies match their spending to their strategic objectives. According to this methodology, firms must create their yearly budget from scratch each year in order to ensure that all of its components are affordable, pertinent, and capable of generating increased savings.

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consider an asset that costs $745,000 and is depreciated straight-line to zero over its eight-year tax life. the asset is to be used in a five-year project; at the end of the project, the asset can be sold for $135,000. if the relevant tax rate is 21 percent, what is the aftertax cash flow from the sale of this asset? (do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

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Answer: Annual depreciation

Explanation:

The aftertax cash flow from the sale of the asset is $165,319.

What is depreciation?

Depreciation is an accounting method used to allocate the cost of a tangible asset over its useful life. The purpose of depreciation is to match the cost of an asset to the revenue it generates, instead of expensing the entire cost of the asset in the year it was purchased.

The depreciable base of the asset is $745,000, and it has a tax life of 8 years, so the annual depreciation is $745,000/8 = $93,125. After five years of use, the accumulated depreciation is $93,125 x 5 = $465,625. The book value of the asset at the end of the project is $745,000 - $465,625 = $279,375. Since the asset is sold for $135,000, the company realizes a gain of $135,000 - $279,375 = -$144,375. This is a loss. However, since it is a loss, the company can deduct it from its taxable income. The tax savings from this loss is equal to the loss multiplied by the tax rate, which is $144,375 x 0.21 = $30,318.75.

Therefore, the aftertax cash flow from the sale of the asset is the sale price plus the tax savings, or $135,000 + $30,318.75 = $165,318.75. Hence, rounded to the nearest whole number, the answer is $165,319.

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What supports general business processes and does not require any specific software customization to meet the organization’s needs?

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Common business procedures are supported by off-the-shelf application software, which doesn't need to be specially customized to fit the needs of the firm.

Off-the-shelf solutions are fully assembled, fully working items that cater to a wide range of users. They aren't special, but rather generic and made for widespread commercial use, thus they can typically be integrated with current systems without difficult settings.

You can meet a variety of needs thanks to a wide range of software modules, but sometimes simple features are insufficient for intricate, specialized activities. With most off-the-shelf products, you can tweak them, but you won't be able to fully adapt to all requirements.

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compare two situations: year 1. real gdp increases, and at the same time, interest rates increase. year 2. real gdp increases, and at the same time, interest rates decrease. what is a possible explanation for the difference?

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One of the most well-known is Gross domestic product, which represents total national output. It is many times referred to in papers, on the TV news, and in reports by states, national banks, and the business local area.

The possible explanation for the difference is

An increase in spending may have caused the increase in GDP in year 1, an increase in the money supply may have caused the increase in GDP in year

A rise in interest rates and GDP must have been caused by something that increased income without increasing the money supply. This would result in higher interest rates. An increase in planned spending might have caused this. In the year 2 scenario, expansionary monetary policy reduces interest rates and can increase real GDP.

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suppose that in addition to being able to obtain only ten a76 batteries, the store can get only six of type d303. how many ways can a total inventory of batteries be distributed among the eight different types?

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In 9,822,362 total combinations, a total inventory of batteries is distributed among the eight different types.

3 Cases: 1 – if there were 30 A76 batteries; 2 – how many combinations of 11 or greater A76 batteries without the option of selecting a D303 battery and 3 – how many combinations of 9 or greater D303 batteries without the option of selecting an A76 battery.

Case 1:  

(30+8-1)! ÷ 30!×7×6×5×4×3×2  = 37*36*35*34*33*32*31*30! ÷ 30! 7×6×5×4×3×2    =  10,295,472

Case 2:

(19+7-1)! ÷ 19!×6×5×4×3×2  =  25×24×23×22×21×20×19! ÷ 19!×6×5×4×3×2  = 177,100

Case 3:

(21+7-1)! ÷ 21!×6×5×4×3×2 =  27×26×25×24×23×22×21! ÷ 21!×6×5×4×3×2  = 296,010

    Then follow up with some simple subtraction to get the total of combinations with the limitations of <=10 A76 batteries, <=8 D303 batteries, and <=30 6 other types of batteries. 10,295,472 - 177,100 - 296,010 = 9,822,362 total combinations.

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if finance lists a stock's dividend as $1, then it a. paid $1 during the past quarter, with no future dividends forecast b. is expected to pay a dividend of $1 per share at the end of next year c. pays $.25 per share per quarter d. pays $1 per share per quarter

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If finance lists a stock's dividend as $1, then it b. is expected to pay a dividend of $1 per share at the end of next year.

A stock dividend is a dividend payment that is delivered to shareholders in shares as opposed to cash. The benefit of the stock dividend is that it rewards shareholders without dipping into the company's cash reserves.

The majority of these stock distributions are made as fractions paid per outstanding share. If a business distributes a 5% stock dividend, it must provide existing shareholders 0.05 shares for every share they now own. Five extra shares would be added to the 100-share owner's ownership.

A stock dividend, also referred to as a "scrip dividend," is a payment of shares to current shareholders as opposed to a cash dividend. This kind of dividend may be paid out when a corporation wishes to reward its shareholders but lacks further funds or decides to keep cash on hand for future needs.

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how much are you willing to pay for one share of stock if the company just paid an annual dividend of $1.03, the dividends increase by 3 percent annually, and you require a rate of return of 15 percent? $8.58 b. $9.49 c. $10.40 d. $8.84 e. $6.87

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8.58 is paid for one share of stock if the company just paid an annual dividend of $1.03. The correct option is A.

Why can dividends be used to value a firm's stock price?

The justification for using dividends as a measure of a company's value is that since dividends correspond to the actual cash flows going to the shareholder, calculating the present value of those cash flows should provide an estimate of how much the shares should be worth.

Given

Dividend = $1.03

Dividend Growth Rate = 3%

Required Rate of Return = 15%

Required to calculate Stock price/value =?

Stock value = Dividend per share / (Required Rate of Return – Dividend Growth Rate)

Stock Price = 1.03 / ( 0.15 - 0.03) = $8.58

Thus, the ideal selection is option A. The stock price is $8.58 if the company just paid an annual dividend of $1.03, the dividends increase by 3 percent annually, and you require a rate of return of 15 percent.

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Because consumers can sometimes substitute cheaper goods for those that have risen in price,a. the CPI overstates inflation.b. the CPI understates inflation.c. the GDP deflator overstates inflation.d. the GDP deflator understates inflation.

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The CPI overstates inflation because consumers can sometimes substitute cheaper goods for those that have risen in price.

Consumers can be an individual or a group of individuals who buy or consume products or services only for their own consumption, as opposed to for production or resale. They are the final customers in the supply chain for goods for sale.

A person is referred to as a consumer if they buy goods or services for their own consumption rather than for manufacture or resale. A customer is someone who makes the choice of whether or not to purchase a product at the shop or someone who is affected by marketing and advertising.

Hence the correct option is A

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What are the main roles of a central bank?

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Conducting monetary policy to attain price stability low and stable inflation and assist in managing economic fluctuations is a crucial function of central banks. Recent years have seen significant changes to the policy frameworks within which central banks operate.

Globally, central banks are charged with a number of significant duties.  Central banks produce money, which is subsequently used by individuals, households, and corporations to conduct transactions and, essentially, track where money is being spent. Additionally, central banks are responsible for ensuring the stability of the financial systems in their respective economies. To do this, they must continuously monitor lending standards throughout the economy and guarantee that credit is available when needed. In that situation, they also serve as the government and commercial banks.

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sally, a ceo, assigned a team to determine the best location for the new offices, but she narrowed it down to three cities they should consider. what political strategy was sally using to exercise power in this situation?

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the correct answer of the given question is option A which is Controlling the agenda.

By choosing what will and won't be on the agenda for a meeting where negotiation may take place, you may manage what is discussed.

Additionally crucial is the agenda's order: Think carefully about what attendees will be thinking and feeling at each stage of the meeting. It is frequently beneficial to place things where you want attention close to the start (an innocuous item first can be helpful as a warm up). Put the thing near the end if you don't want folks to ponder about it too much.

Additionally, if you are the one presiding over the meeting, you can exert control over it by promoting discussion on a certain topic or hastening the meeting's conclusion.

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which is a guideline that project managers should follow when communicating with teams through e-mail?

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when communicating with teams through e-mail. Put the complete message in the subject line if it would fit. Regardless of the requirements of the stakeholders, status reports should be produced in a uniform style.

The phrase may also be used to refer to the transmission's message or the field of study that focuses on it. Its exact definition is a hotly contested issue. John Peters claims that the difficulty in defining communication is due to the fact that it is both a universal phenomenon and a unique academic field with institutional backing. One definitional strategy is to restrict the range of behaviors that fall within the communication umbrella. This justification suggests that one definition of communication can be the process by which individuals or groups create mutually accepted meaning through the use of signs, symbols, and semiotic conventions.

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netflix streams syndicated programming (programming that is developed elsewhere but that netflix has arranged for the right to stream to viewers) and original programming (programming that netflix plays a role in developing). which types of inventory must netflix have in place at any point in time to ensure it meets customer demand? check all that apply. raw materials office supplies finished goods work in process

Answers

Inventory must Netflix have in place at any point in time to ensure it meets customer demand are work in process, and raw materials. Thus, option (d) is correct.

What is inventory?

The term inventory refers to the company are ready to sell the merchandise, goods, and services and the earn profit. The company used the raw material are converted into the finished goods.

The inventories in the Netflix company's management to the consumer demands are the ensure to the process of working implies to the work are the ready for the fished goods conversion and the natural resources are the store are the acquired to the readiness are the sale.

Therefore, option (d) is correct.

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which of the following statements are true? multiple select question. wage rates paid to workers are unpredictable in most companies. overtime premiums can cause an unfavorable labor rate variance. how production supervisors use direct labor workers can lead to labor rate variances. assigning highly skilled, highly paid workers to low skill, low pay level jobs will cause a favorable labor rate variance.

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Overtime premiums can cause an unfavorable labor rate variances and how production supervisions use direct labor workers can lead to labor rate variance. (Option B and C)

What feasible factor could make a direct labor efficiency variance advantageous for a time period?

According to Accounting Coach, a favorable variance happens when your actual direct labor costs are lower than your standard, or budgeted, costs. On the other side, a labor rate variance that is a negative figure is undesirable and may lead to a smaller profit than anticipated.

Why is there a beneficial labor rate variance?

The variance will be advantageous if the actual rate of compensation per hour is lower than the average rate of pay per hour. If the conclusion was good, you paid your employees less than you had planned.

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Suppose your company sells services for $325 cash this month. Your company also pays $100 in wages, which includes $15 that was payable at the end of the previous month and $85 for wages of this month.Required:1. Show the journal entries to record these transactions.2. Calculate the amount that should be reported as net cash flow from operating activities.3. Calculate the amount that should be reported as net income.4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2).5. What general rule about converting net income to operating cash flows is revealed by your answer to requirement 4?

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The following data is accessible when creating a company's statement of cash flows for the most recent year using the indirect method: The company's yearly net income was $57,500.

Payments to creditors fell by 23,500. The amount of money owed rose by $32,500. Stocks went up by 10,000. 15,100 in cash dividends were paid. The cost of depreciation was 25,500. The amount of operating activities' net cash flow was In this scenario, we are creating a cash flow statement for businesses. We're interested in the net income generated by operating activities. A query arose regarding the following funds generated by operating activities. This is the most current year's cash flow statement for the corporation.

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you are meeting with a new buyer. they walk into your office in jeans and a flannel shirt. you saw them pull up in an old pickup truck. they say they want to purchase a home in the $500,000 to $650,000 range. what is the best response?

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"Great! Within this price range, we include a number of lovely houses advertised.

Now let us go over this mortgages spreadsheet in order to provide you periodically re to ensure that when we uncover users the dream home, we could make a persuasive proposal."

The Real Estate Recovery Fund was established to safeguard individuals who suffered losses during real estate transactions.

An operating expense for a labour union is included in the licensee's own financial limit.

Choose a topic that you seem to be acquainted and comfortable ease writing about during the process of creating the key demographic description.

What does not constitute a waiver of the Do-Not-Call regulations?

As long as your firm title and contact are blocked, you may call.

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online exchanges are used most widely for e-commerce. question 39 options: a) b2c b) g2c c) c2c d)

Answers

online exchanges are used most widely for e-commerce is C2C

Explanation:

The exchange of goods and services through the Internet is known as e-commerce (or electronic commerce). The most popular e-commerce platform is an online exchange that enables electronic money exchanges, communication between buyers and sellers, and the exchange of goods and services.Business to consumer (B2C) and consumer to consumer (C2C) are the two main categories that online trades often fall under (C2C). In business-to-consumer transactions, businesses offer products or services directly to customers. Consumers exchange goods and services with one another in a C2C transaction.Online exchanges give buyers and sellers a quick, safe, and effective option to complete deals.

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a concentration ratio a. measures the percentage of total output supplied by the four largest firms in the industry. b. reflects the level of competition in an industry. c. is related to the control that each firm has over price. d. all of the above are correct.

Answers

A concentration ratio reflects the level of competition in an industry.

Concentration ratio: The proportion of an industry's production that is collectively produced by its largest producers. The market share of the four biggest companies is shown by the four-firm concentration ratio (CR4), for instance. The industry becomes increasingly concentrated as the concentration ratio rises.

The concentration ratio shows how competitively the businesses that make up an industry are. It is the proportion of business size to the size of the industry as a whole. An industry monopoly or a lack of competition for such enterprises are both indicated by a high concentration ratio that is closer to 100%.

Hence the correct option is B

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what is one way that cash flows from investing activities are the opposite of cash flows from financing activities?

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Investing-related cash flows usually include cash flows from loans the business has made to third parties.

Cash flows from investments are used to fund investments, whilst cash flows from financing are used to run the business. This is the major distinction between cash flows from investments and cash flows from financing. It will be employed to fund. Income or expenditure on long-term assets, such as machinery and facilities, is referred to as investing activity.

cash flows from investments or investments Cash flows reveal how much money was made or spent within a specific time period on various investment-related activities. Buying speculative assets, investing in securities, and selling securities or assets are all examples of investing activity. Cash flows from operations like the issue of bonds or other forms of financing.

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assume that x-men estimates that future inventory returns to be $500 on the cost side. the beginning unadjusted balance is $400. the adjusting entry for expected returns on the cost side is:

Answers

Debit Inventory Returns Estimated and credit Cost of Goods Sold for $100

When goods that were previously issued out for usage are returned to your stock and added back to your on-hand quantity, this is known as an inventory return.

To fill the inventory return form follow the given steps.

On the homepage's Transactions section, select the Returns link.In the Shortcuts section at the top of the page, select the New Supplier Return (Clerk Form) link from the My Returns list.You can enter five supplier return transactions at once on this page. The entry fields in the columns below match the field headers in the top bar.Click Save at the bottom of the form after entering the data in the appropriate fields.

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gross marketing contribution is interpreted is what is left over after the sale and manufacture of a good to cover marketing, fixed costs and profit. group of answer choices true false

Answers

Gross marketing contribution is interpreted as is left over after the sale and manufacture of a good to cover marketing, fixed costs, and profit.

Gross profit is the profit of a company after deducting the costs associated with manufacturing and selling a product or the costs associated with providing a service. Gross profit is shown on a company's income statement and can be calculated by subtracting cost of goods sold (COGS) from revenue (sales).

The formula for calculating total sales is total sales x original sales price = total sales. A company's total sales are the total sales of all its products and/or services over a period of time. This figure, called top-line sales, represents the company's total sales before deductions, returns, or allowances.

Gross margin is the amount left over by a company after deducting all direct costs of producing or purchasing the goods or services it sells. The higher the gross profit margin, the more money the company can contribute to overhead costs and other expenses such as interest.

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Which investment would generally be inappropriate for a 25 year old with a traditional ira invested for his/her retirement?
a. A substantial and permanent investment in a variety of equity mutual funds.
b. A substantial and permanent investment in money market mutual funds.
c. A substantial and permanent investment in an S&P index mutual fund.
d. A substantial and permanent investment in a variety of international mutual funds.

Answers

A substantial and permanent investment in money market mutual funds would generally be inappropriate for a 25-year-old with a traditional IRA invested for his/her retirement. Therefore, the option B holds true.

An investment can be referred to or considered as a method of engaging monies of an individual into different classes of assets, wherein the primary intention of the individual is to foresee an appreciation in value of the amount that he or she invests. An investment is typically backed by a goal. A 25-year-old must avoid investments in money market funds, if he or she has a goal of saving money for retirements in his IRA account. This is because, it involves a higher amount of risk of losing money.

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