The procedure that best reveals the existence of contingent
debts is
a. Receive bank statements for all client bank accounts.
b. Review the invoices paid during the year to creditors of our
client
Answers
The procedure that best reveals the existence of contingent debts is b. Review the invoices paid during the year to creditors of our client.
The procedure that best reveals the existence of contingent debts is to review the invoices paid during the year to creditors of our client. Contingent debts are potential obligations that may arise in the future depending on the occurrence or non-occurrence of certain events. They are not recognized as liabilities on the balance sheet until the occurrence of the event becomes probable and the amount can be reasonably estimated. By reviewing the invoices paid during the year to creditors, the auditor can identify any potential contingent debts that may have been incurred by the client. These invoices may contain information about contingent liabilities, such as pending legal claims, warranty obligations, or guarantees. The auditor can analyze the nature of these invoices, review related contracts or agreements, and inquire with management or legal advisors to determine the likelihood and potential impact of these contingent debts.It is important for the auditor to identify and disclose contingent debts in the financial statements as they can have a significant impact on the company's financial position and future obligations. Proper disclosure of contingent debts ensures that users of the financial statements have complete and accurate information to make informed decisions. While receiving bank statements for all client bank accounts (option a) is a standard procedure to verify cash balances and transactions, it may not specifically reveal the existence of contingent debts. Therefore, reviewing invoices paid to creditors (option b) is a more appropriate procedure in this context.
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The complete question is as follows:
The procedure that best reveals the existence of contingent debts is
a. Receive bank statements for all client bank accounts.
b. Review the invoices paid during the year to creditors of our client.
c. Confirm a sample of customer accounts payable.
d. Confirm with the client's attorneys.
Related Questions
science week1 qarter4 grade 8
Answers
Answer:
Explanation:
444
hai brought 6 pears fo 3.60 how much did each pear cost?
Answers
Answer: $0.6
Explanation:
3.6/6 is 0.6
David Fisher, a recently retired corporate executive, is becoming restless in his new role and would like to make this transition smoother by participating in the business community in some limited manner. Since David is financially secure and primarily interested in some sort of volunteer work, he should consider becoming involved with which of the following SBA programs?
a. ACE
b. SBIC
c. SBDC
d. SBI
e. SCORE
Answers
Answer:
E. Score
Explanation:
Which component of table setting includes knives?
O A.
lunchware
OB.
flatware
O C.
steelware
OD.
dinnerware
O E.
drinkware
Answers
Answer:
Steelware I think
Explanation:
Whole Foods Market (2010): How to grow in an increasingly competitive market?) and answer the following questions: 1. What opportunities and threats can be identified through examining Whole Foods in the context of the competitive forces model and a competitor analysis? 2. What functional level strategies has Whole Foods employed? Have these strategies been successful?
Answers
Whole Foods Market, a leading natural and organic foods supermarket chain, faces both opportunities and threats in an increasingly competitive market. By examining Whole Foods within the framework of the competitive forces model and competitor analysis, several key factors can be identified.
What opportunities and threats can be identified through examining Whole Foods in the context of the competitive forces model and a competitor analysis?Opportunities include the growing demand for healthy and organic food, the increasing trend towards sustainability and conscious consumerism, and the potential for expansion into new markets.
However, threats arise from intense competition from both traditional grocery stores and niche organic retailers, price pressures, and potential disruption from online grocery platforms.
In terms of functional level strategies, Whole Foods has employed several approaches to maintain its market position.
These include offering a wide range of high-quality natural and organic products, emphasizing customer service and engagement, investing in employee training and development, and implementing sustainable and environmentally-friendly practices.
These strategies have generally been successful, allowing Whole Foods to differentiate itself in the market and attract a loyal customer base.
However, the company has also faced challenges in terms of pricing perception and competition, requiring ongoing adaptation and innovation to maintain its competitive edge.
Regular assessment and adjustment of functional strategies are crucial for Whole Foods to navigate the evolving competitive landscape successfully.
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As of December 31, Year 2, Moss Company had total cash of $195,000, notes payable of $90,500, and common stock of $84,500. During Year 3, Moss earned $42,000 of cash revenue, paid $24,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders.
Determine the amount of retained earnings as of December 31, Year 2.
Answers
Answer:
$20,000
Explanation:
Calculation for the amount of retained earnings as of December 31, Year 2.
Using this formula
Retained earnings=Total cash -Notes payable-common stock
Where,
Total cash= $195,000
Notes payable= $90,500
Common stock= $84,500
Let plug in the formula
Retained earnings = $195,000 − $90,500 − $84,500
Retained earnings= $20,000
Therefore the amount of retained earnings as of December 31, Year 2 will be $20,000
In making the best economic choices, consumers compare the benefits of the choice to.
Answers
In making the best economic choices, consumers compare the benefits of the choice to its cost.
What is choice?This is the option that the consumer has considered to be the best way of satisfying his needs.
The choice of a person is a direct measurement of the benefit of the good and the cost that they can offer up for that good.
Therefore, in order to make the best economic choice, the benefits of a good must be compared to cost.
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In general, reducing the interest rate (i) of a credit card but keeping the present value (PV) and number of periods (n) the same will_______.
a.) decrease the monthly payment (P) needed to pay off the debt.
b.) increase the monthly payment (P) needed to pay off the debt.
c.) eliminate the monthly payment (P) needed to pay off the debt.
d.) have no effect on the monthly payment (P) needed to pay off the debt.
Answers
Answer:
A. decrease the monthly payment (P) needed to pay off the debt.i took the test⬇️
Answer:
a
Explanation:
2. The owner of a franchise benefits from brand name recognition, access to professional
and nationwide advertising.
Answers
Answer:
True
Explanation:
It is TRUE that the owner of a franchise benefits from brand name recognition, access to professional and nationwide advertising.
This is because the owner of a franchise has various advantages. The advantages include enhanced reputation which covers all the places there is a franchise.
Then there is an increase in management techniques and work practices, including access to national advertising to cover many places and continuous support.
Which type of insurance covers individuals by giving them a
portion of their wages in the event that they are unable to work for
a long period of time due to illness or injury?
O Collateral
O Disability
O Liability
O Property
Answers
Answer:
Disability
Explanation:
Disability insurance offers protection against the loss of income due to disability or sickness. This insurance policy provides income to the insured if they are unable to work as a result of a disability or serious illness. Disability insurance coverage is available from private insurance companies and government-backed programs.
Answer:
Disability
Explanation:
What is the company's current margin of safety in sales dollars? What is its margin of safety as a percentage of sales? Begin by identifying the formula. Margin of safety in dollars The current margin of safety is
Answers
The company's current margin of safety in sales dollars is $100,000 and its margin of safety as a percentage of sales is 20%.
The margin of safety in sales dollars = Total sales - Break-even sales
Assuming that we have the necessary information to calculate the margin of safety, we can use the formula to find out the company's current margin of safety in sales dollars.
Once we have that number, we can also calculate the margin of safety as a percentage of sales by using the following formula:
The margin of safety as a percentage of sales = (Margin of safety in sales dollars ÷ Total sales) x 100%
Without the actual numbers for total sales and break-even sales, I cannot provide a specific answer. However, if we assume that the company's total sales are $500,000 and its break-even sales are $400,000, then the margin of safety in sales dollars would be:
Margin of safety in sales dollars = $500,000 - $400,000 = $100,000
Margin of safety as a percentage of sales = ($100,000 ÷ $500,000) x 100% = 20%
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Jacob and Julie are both unemployed and are searching for work. Jacob is taking his time on his search because of his unemployment insurance. Julie is looking for work in a paper mill. Every time Julie shows up for an interview, there are more people looking for work than there are openings. She realizes that it has been that way for a long time.
A. Jacob and Julie are both structurally unemployed.
B. Jacob is frictionally unemployed, and Julie is structurally unemployed.
C. Jacob and Julie are both frictionally unemployed.
D. Jacob is structurally unemployed, and Julie is frictionally unemployed.
Answers
Based on the given scenario, we can say that:
B. Jacob is frictionally unemployed, and Julie is structurally unemployedWhat is Frictional Unemployment?This refers to the type of unemployment where a person intentionally leaves a job in search of another.
With this in mind, we can see that Jacob left his job to look for another one and has unemployment insurance while Julie is actively jobless and looking for jobs but not getting any so Jacob is frictionally unemployed, and Julie is structurally unemployed
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nutrients for poultry products
Answers
Answer:
Poultry is generally considered to be a healthy meat, and has several nutrients. These nutrients and their amounts vary depending on the meat cut of the poultry, for example, chicken breasts have a lot more protein and less fat than chicken wings.
Overall, poultry is characterized by significant amounts of protein, of minerals like zinc, iron and copper, and of vitamins like vitamin B6 and thiamin.
Swifty Corporation provided the following information on selected transactions during 2021:
Purchase of land by issuing bonds $950000
Proceeds from issuing bonds 2990000
Purchases of inventory 3800000
Purchases of treasury stock 599000
Loans made to affiliated corporations 1450000
Dividends paid to preferred stockholders 402000
Proceeds from issuing preferred stock 1570000
Proceeds from sale of equipment 306000
The net cash provided by financing activities during 2021 is
O $4519000.
O $3157000.
0 $4202000.
O $3559000
Answers
The net cash provided by financing activities during 2021 for Swifty Corporation is $4,519,000. Therefore the correct option is A. $4519000.
To calculate the net cash provided by financing activities, we need to consider the cash flows related to financing activities, such as the issuance of bonds, issuance of preferred stock, purchases of treasury stock, and payment of dividends to preferred stockholders. We will subtract the cash outflows and add the cash inflows from these financing activities to determine the net cash provided.
Given the information provided, we have the following cash flows related to financing activities:
- Proceeds from issuing bonds: $2,990,000
- Proceeds from issuing preferred stock: $1,570,000
- Purchases of treasury stock: -$599,000
- Dividends paid to preferred stockholders: -$402,000
To calculate the net cash provided by financing activities, we sum up the cash inflows and subtract the cash outflows:
Net Cash Provided by Financing Activities = (Proceeds from issuing bonds + Proceeds from issuing preferred stock) - (Purchases of treasury stock + Dividends paid to preferred stockholders)
Net Cash Provided by Financing Activities = ($2,990,000 + $1,570,000) - ($599,000 + $402,000)
Net Cash Provided by Financing Activities = $4,560,000 - $1,001,000
Net Cash Provided by Financing Activities = $3,559,000
Therefore, the net cash provided by financing activities during 2021 for Swifty Corporation is $3,559,000.
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a bank's required reserves are: multiple choice a financial asset for the fed. a financial liability for the bank. counted as money. a financial liability for the fed.
Answers
A bank's required reserves are a financial liability for the bank. A bank's required reserves refer to the amount of money that the bank must keep in reserve, either in its own vaults or in an account at the Federal Reserve Bank.
These reserves are the bank's last line of defense against bank runs or other types of financial instability. Banks use their reserves to cover withdrawals by depositors, as well as to meet other obligations that may arise.
A bank's required reserves are a liability for the bank because they represent funds that the bank cannot use for other purposes. These reserves are mandated by the Federal Reserve, and failing to meet the reserve requirement can result in penalties for the bank.
In addition, the bank must pay interest on reserves held at the Federal Reserve Bank, which further reduces the bank's profits.
Reserves are not counted as money because they are not available for use by the bank or its customers. Instead, they are held in reserve to ensure that the bank is able to meet its obligations and maintain its solvency.
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During the two years he has been working, Jeffrey has saved some money to buy a house. His parents have agreed to loan him part of the down payment, and he has started to look for a house he can afford. He discovered a great house that has two apartments in it. He has looked at all the information carefully, done his budget, and thinks he can afford the house because he will live in only part of it and will rent out the other half. If Jeffrey buys this house, lives in the apartment upstairs and rents out the apartment downstairs, which of the following is true?
Answers
Answer:
you have to give "the following"
4. Use the Internet to find an online job posting. Try searching a site like careerbuilder.com or monster.com. Then complete the items below. a. List the link to the posting. (1.0 point) b. List at least two requirements of the job. Complete sentences are not necessary. (2.0 points) c. List at least three tasks that are a part of the job. Complete sentences are not necessary. (3.0 points) d. Write 1-2 sentences explaining why or why not this job would be a good fit for you (2.0 points)
Answers
Answer and Explanation:
Hello. Brainly does not allow links to be placed in responses, which makes it impossible for me to answer your first question. However, you can find this job vacancy in the careerbuilder when searching for Internet / BDC Director.
Two requirements that this job vacancy requires of possible candidates are: Knowledge of management of social networks and experiences with online sales.
The individual who is interested in this job vacancy, if hired, will have to carry out online and face-to-face sales, perform administrative functions and perform customer service whenever necessary.
This job is not a good option for me, because I have no experience in sales, but this is a very promising job vacancy, with a fair salary and benefits, I believe that if I had the requirements, I would do very well in this type of job.
Answer:
1. https://www.careerbuilder.com/job/J337WK6Y75401Z09WZ9
2. · Ideal to have 1 year experience as a pharmacy technician coordinating activities in an administrative support function.
· Must have valid Pharmacy Technician License
3. Working with patients to explain and educate on medical questions
· Tracking and logging vaccination details into EMR (electronic medical records system)
· Assisting Pharmacist as needed
4. This job would be a good fit for me, because I am compassionate, patient, and pay attention to detail. My mathematical skills are excellent, and like working with a team of health care professionals.
Explanation:
The roles of ___, ___, and ___ are critical for managers in nonprofit organizations.
Answers
The roles of spokesperson, leader, and resource allocator are critical for managers in non-profit organizations.
What are management's responsibilities in non-profit organizations?The four main areas of planning, organizing, leading, and controlling are how management gurus have divided up management's tasks. The management of nonprofits requires special attention to each area.
How are non-profit organizations run?The nonprofit industry, by definition, works toward humanitarian ends. Because they lack formal hierarchies and managerial structures, many nonprofit organizations are loosely structured and frequently volunteer-driven.
Which managers are critical to advancing innovation?Middle managers are essential for fostering innovation and empowering businesses to adapt quickly to changing conditions. a manager who is in charge of a certain project at work that brings together staff from different levels and functions of the company.
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The mandatory payroll deduction that includes Social Security and Medicare
is referred to as_____.
A. state withholding
B. FICA
C. 401(k)
D. 501(c)(3)
Answers
Answer:
the answer is B.FICA
ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. as a consultant, ziva helps people organize their houses. due to the popularity of her home-organization services, farmer ziva has more clients requesting her services than she has time to help if she maintains her farming business. farmer ziva charges $25 an hour for her home-organization services. one spring day, ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. she expects that the seeds she planted will yield $300 worth of lettuce. refer to scenario 13-3. what is the total opportunity cost of the day that farmer ziva spent in the field planting lettuce? a. $130 b. $300 c. $380 d. $250
Answers
The total opportunity cost of the day that farmer ziva spent in the field planting lettuce is $380.
What does Total opportunity mean?
Total opportunity is a term used to refer to the potential for success or growth that exists within a given situation or market. It is a measure of the potential for something to be successful, and can be used to evaluate a business or market. Total opportunity can refer to the full market potential, the total number of potential customers, or the total potential revenue that could be earned from a given situation. It is a measure of the potential for a business or market to succeed, and can be used to evaluate a business or market.
Explanation:
Ziva's total farming cost is made up of two parts: explicit and implicit costs.
An explicit cost is an out-of-pocket expense incurred by a person in order to carry out a specific business activity. It is, in some ways, a business-related expense that the company bears. In Ziva's case, the cost of the seeds is $130.
Implicit costs are opportunity costs. An opportunity cost is the benefit that an individual, investor, or business foregoes by choosing one alternative over another. In our case, it is $250 ($25*10 hours).
Thus, Ziva's cost of farming
= $130 +( $25*10) = $130 +$250 = $380
Therefore the correct option will be C.$380 .
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In business forecasting, what is usually considered a short-term time period?
A. Four weeks or less
B. More than three months
C. Six months or more
D. Less than three months
E. One year
Answers
Option A is correct. Four weeks or less is usually considered a short-term time period in business forecasting.
What is business forecasting?Business forecasting is the process of predicting future events and conditions in the business environment. This can include forecasting sales, demand for products or services, and economic trends. Business forecasting can be used to inform strategic planning, budgeting, and decision making. It is typically used to make short-term predictions (4 weeks or less) and long-term predictions (6 months or more) and it's important for companies to have a good understanding of the economic and industry trends that will impact their business, so they can make informed decisions about their operations and investments. Business forecasting can be done using a variety of techniques, including statistical analysis, trend analysis, and expert opinions.
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changes in income levels of macro environment
Answers
The macro-environment, as opposed to specific marketplaces, refers to the overall state of an economy.
GDP, fiscal policy, monetary policy, inflation, employment rates, and consumer spending all have an impact on the macroenvironment. Business decisions about items like spending, borrowing, and investing are impacted by the macroeconomic environment.
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Answer: The macro-environment, as opposed to specific marketplaces, refers to the overall state of an economy.
Of every 500,000 jobs in the U.S., the approximate number of those through international firms are _____.
Answers
Answer:
90,000
Explanation:
What is an Individual Asynchronous Communicator? And provide 2 examples of people who are like that
Answers
Answer:
asynchronous communication is when you send a message without expecting an immediate response. For example, you send an email. I open and respond to the email several hours later. You can choose anyone you know for the example of people who are like that part. <3
Explanation:
which of the following bond has the lowest interest rate risk? a 10-year zero coupon bond a 5- year zero coupon bond a 5-year 8 percent coupon bond a 5- year 5 percent coupon bond
Answers
10-year zero coupon bond has the lowest interest rate risk. So, the correct answer is option A.
What is Zero-coupon bond?
Due to the yield curve's form, a zero-coupon bond will typically give larger returns than a conventional bond of the same maturity. Bonds with longer maturities yield more than those with shorter maturities under a normal yield curve. Regular coupon interest payments are like little zero-coupon bonds that mature earlier since they are due before the bond's maturity date. Interest payments shorten the waiting period and lower the risk, which lowers predicted returns as well. Zero-coupon bonds are riskier than coupon bonds, allowing speculators to gain more from projected short-term price changes. If all else is equal, as interest rates fall, the price of a zero-coupon bond will rise more than the price of a standard coupon bond.To know more about Zero-coupon bond visit:
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What is working capital?
Answers
Answer:
Working capital, also called net working capital (NWC), represents the difference between a company’s current assets and current liabilities.
NWC is a measure of a company’s liquidity and short-term financial health.
A company has negative NWC if its ratio of current assets to liabilities is less than one.
Positive NWC indicates that a company can fund its current operations and invest in future activities and growth.
High NWC isn’t always a good thing. It might indicate that the business has too much inventory or is not investing its excess cash.
Explanation:
can you me as brainliest if its right? i just need a few more to rank up! ^-^
Also have a great day and good luck in your studies!
answer:
the capital of a business which is used in it day-to-day trading operation, calculated as the current assets minus the current liabilities
why do you think schedule issues often cause the most conflicts on projects? how can you minimize or control changes to project schedules?
Answers
Schedule issues often cause the most conflicts on projects because time is a finite resource and delays in one aspect of the project can affect the entire timeline. Additionally, changes to the project schedule can impact resource allocation and budget, making it difficult to manage and prioritize tasks.
To minimize or control changes to project schedules, it is important to establish a clear and realistic timeline at the outset of the project. This includes identifying dependencies between tasks and setting reasonable deadlines. It is also important to regularly monitor and update the schedule to reflect changes in project scope or unexpected obstacles.
Effective communication with team members and stakeholders is crucial in managing project schedules. Keeping everyone informed of schedule changes, and discussing any potential impacts on the project can help to prevent misunderstandings and conflicts. Additionally, utilizing project management software or tools can help to automate scheduling and provide real-time updates to the entire team.
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Erin's weekly health deduction from her check is $5.35. If his employer pays 80% of the premium, how much is her annual premium?
Answers
Answer:
Explanation:
I assume they are asking for the total premium paid per year, but I will also show just the amount she pays per year.
To figure out the total annual premium:
If the employer pays 80%, then the employee pays 20% (100%-80%).
Total Premium x .20% = 5.35
Total Premium = 5.35/.2 (20%)
Total Premium = 26.75 per week
Total annual premium is 26.75 x 52 weeks = 1,391
‘The employee only pays 20% or 5.35 per weekly paycheck. Her annual costs is 5.35 x 52 weeks=278.20
1. This bank statement is most likely for what kind of account? Provide at least two pieces of evidence from the statement that explain why. (2 points)
2. Which transaction on the bank statement is most likely a paycheck? How do you know? (1 point)
3. The owner of the account wants to buy a $750 refrigerator. Explain why this would be a poor decision right now, based solely on information shown on the bank statement. (1 point)
4. The owner of the account may have already overdrawn. what evidence from the statement indicates that this may be the case? (1 point)
Answers
The bank statement is for a current account. The evidence to show that's it's a current account include:
The check depositThe pending of some checks deposited and check#509 withdrawn.The transaction on the bank statement that is most likely a paycheck is the automatic deposit of $2055.
The owner of the account cannot buy the $750 refrigerator because he has a balance of $240.
The from the statement indicates that the owner of the account may have already overdrawn is because the total withdrawals are -$330.57.
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Answer:
The guy above really helped got a 100 on this because of this guy thank you.
Explanation:
A company that is organized by function will group its employees into teams based on what?
Answers
This organisational structure divides workers into functional areas according to their areas of competence. These functional categories frequently correspond to phases of the value chain like operations, R&D, and marketing and sales.
What is meant by organisational structure?The way tasks are assigned, coordinated, and managed in order to achieve organisational goals is determined by the organisational structure. The foundation upon which standard operating procedures and routines are built is provided by organisational structure, which influences organisational action. Functional, multi-divisional, flat, and matrix organisational structures are the four different types.An organisational structure is a framework for managing specific tasks in order to accomplish a strategic goal. All of these activities have guidelines, expectations, and roles.An organization's structure serves as a tool for its members to carry out their duties in an effective and timely manner as well as for the organisation as a whole to achieve its goals and objectives. In addition to assigning employees their specific work duties and responsibilities, an organisational structure aids management in coordinating and managing operations.To learn more about organisational structure, refer to:
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