An auditor ordinarily sends a standard confirmation request to all banks with which the entity has done business during the year under audit, regardless of the year-end balance. One purpose of this procedure is to:
A. seek information about loans from the banks.
B. detect kiting activities that may otherwise not be discovered.
C. request that a cutoff bank statement and related checks be sent to the auditor.
D. provide the data necessary to prepare a proof of cash.

Answers

Answer 1

Answer:

A. seek information about loans from the banks.

Explanation:

A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.

Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

An auditor ordinarily sends a standard confirmation request to all banks with which the entity it is auditing has done business during the year under audit, regardless of the year-end balance. One purpose of this procedure is to seek information about loans from the banks so as to examine and verify the amount that was loaned by the bank to the business entity, as well as comparing the figures (values) to that on the balance sheet.


Related Questions

Select a topic and develop a curriculum targeted to 6th-grade students.

Provide an outline of the material and how it will be presented.

Defend your reasoning for the mode of delivery that was selected.

Submit a 450-word response about the topic, curriculum, material outline, and presentation method.

Answers

Explanation:

Provide an outline of the material and how it will be presented.

is the correct answer .

hope it is helpful to you☺️☺️☺️

hi please give me your opinion. help me :-[

2. Do young people still eat lots of traditional types of food?
Why / Why not?​

lol i accidentally put the subject as business. i am very desperate to get the answer :,-)

Answers

Answer:

nope coz we are living in modern lives whereby they are foods with spieses but some do because they don't wanna forget their tradition

Answer:

Yes, young people do like to eat traditional food because they love the traditional flavor and this also helps them to understand the culture of a place.

mark me as brainliest plz.

Help me please.. there is no option on here for Human Resources principals, so I jus clicked business as the subject..

Answers

I think A, but I’m not sure.

Answer:

it's A and i searched for you to be sure

Wilson Co. has three segments -- Tennis, Golf, and Fishing. The Tennis segment is currently producing 2,000 units annually. The units sell for $200 each. The cost of each unit Wilson produces is $110. The Tennis segment spends $100,000 on product design each year. The segment also is allocated $200,000 of annual facility-level costs. Calculate the differential revenue if Wilson Co. were to eliminate the Tennis segment. Multiple choice question. $200,000 $400,000 $100,000 $180,000

Answers

Answer:

$400,000

Explanation:

Calculation to determine the differential revenue if Wilson Co. were to eliminate the Tennis segment

Differential revenue= $200x2,000 units

Differential revenue= $400,000

Therefore the differential revenue if Wilson Co. were to eliminate the Tennis segment will be $400,000

As a student, you are able to earn extra money by assisting your neighbors with odd jobs.
If you charged $13.25 an hour for your assistance, about how many hours would you
need to work to earn $11,425? Show your work.

Answers

Answer:

about 862.26 hours

Explanation:

you just divide 11,425÷13.25 which you can solve on calculator or phone and that's your answer I HOPE IT HELPED

What are the steps (in sequence) involved in the consumer decision making process? Briefly explain how the retailer can develop strategies during each step so that the customer favors the retailer

Answers

Answer:

Problem recognition: Recognizes the need for a service or product

Information search: Gathers information

Alternatives evaluation: Weighs choices against comparable alternatives

Purchase decision: Makes actual purchase

Post-purchase evaluation: Reflects on the purchase they made

Explanation:

there are 5 steps in the consumer decision making process.

Rich is the highest-paid quarterback in the league, at $5 million per season. Rich is an eight-year pro and has yet to reach the playoffs. Rich's hometown team, the Whalers, are interested in him. If the Whalers sign Rich for $2.5 million per year, how much is the annual "hometown discount" that the Whalers will receive?

Answers

Answer:

$2,500,000

Explanation:

Can someone PLEASE PLEASE HELP ME WITH THIS!!!!!

Answers

Answer:

1. Consumer.

2. Producer.

3. Transportation.

4. Marketing.

5. Harvesting.

6. Processing.

7. Retail/food service.

Explanation:

Food supply continuum can be defined as a cycle of how livestock (animal products) moves from the producer to the consumers. The main goal of the food supply continuum is to safely provide quality animal products to the consumers.

Basically, the seven (7) steps or segments in the food supply continuum include the following;

1. The segment which is responsible for safe handling of the animal product (beef, pork, lamb) in their homes is the consumer.

2. The producer is responsible for raising a healthy animal.

3. The segment which carries the animal from the farm to the market is transportation.

4. The segment which sells the animal to the packer is marketing.

5. The segment which harvests the animal is harvesting. It involves the slaughtering of the animal.

6. The segment which processes the carcasses into retail cuts is processing.

7. The segment which involves a negotiator is the retail/food service.

Discuss the three characteristics of market economy​

Answers

Answer:

Key Takeaways

A market economy functions under the laws of supply and demand.

It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.

Competition drives the market economy as it optimizes efficiency and innovation.

Explanation:

Hope this helps! Have a great day!

There are four basic sources that multinational companies (MNCs) can tap for positions. These are: A. host-country nationals, third-country nationals, United Nations placements, and International Monetary Fund (IMF) placements. B. home-country nationals, International Monetary Fund (IMF) placements, inpatriates, and multipatriates. C. home-country nationals, host-country nationals, International Monetary Fund (IMF) placements, and multipatriates. D. home-country nationals, host-country nationals, third-country nationals, and inpatriates

Answers

Answer:

D. home-country nationals, host country nationals, third-country nationals, and inpatriates

Explanation:

The four basics sources in which the multinational companies would tap for positions are as follows:

Home country nationals

Host country nationals

Third country nationals

Inpatriates

In this the MNC would be ready for tap for the positions

Therefore the last option is correct

And, the other options would be incorrect

ABC Corporation, has an issue of preferred stock outstanding that pays a $2.50 dividend every year in perpetuity. This stock issue currently sells for $75 per share. What is the required return for this preferred stock?

Answers

Answer:

the required return on the preferred stock is 3.33%

Explanation:

The computation of the required return on the preferred stock is shown below:

= Dividend ÷ Selling price per share

= $2.50 ÷ $75

= 3.33%

Hence, the required return on the preferred stock is 3.33%

We simply applied the above formula

The single greatest benefit that capitalism provides is that it enables human choice. Capitalism establishes a social contract that makes it possible for individuals to exercise their franchise and free agency. It gives people the ability to be secure in themselves and their possessions and, having provided security, it enables people to assume risk that they were previously unwilling to assume. It creates the necessary conditions for people to escape poverty and create wealth for themselves and for others. Read a quotation by Roger Butters, a twenty-first-century economist. Both Adam Smith and Butters would agree that capitalism allows the government to help individuals. protects workers from unfair practices. provides individuals with freedom of choice. helps entrepreneurs avoid risk and danger.

Answers

Answer:

provides individuals with freedom of choice.

Explanation:

Adam Smith

is a renowned Scottish economist who wrote "The Wealth of Nations"and established the foundation principles of capitalism.

Capitalism

Is simply defined as an economic system that uses on open competition in a free market, whereby individuals and companies own the means of production and operate for profit.

It gives room for individuals and private businesses to decide most of economic matters. It has led to the development of mercantilism, international trade, rise of the middle class and others.

Benefits of capitalism includes individual freedom is closely related to economic freedom, market economies produce a huge variety of goods and others.

Answer:

The person above me is correct, I just took the test

Explanation:

Trust.


Dakota earns $8.70 an hour for 37
Per month
hour week. How much is earned per week?

Answers

Answer:

$321.90

Explanation:

Which persuasive appeal do you think is the most effective in advertising? Explain.

Answers

The persuasive strategies used by advertisers who want you to buy their product can be divided into three categories: pathos, logos, and ethos.

Most string instrument bows are made from _____. Question 10 options: String Yarn Horse Hair Human Hair

Answers

Answer:

horse hair

Explanation:

yes, horse hair! <><><><><><><><><><>

In the portfolio matrix, characteristics of goods and services in the leverage quadrant are:Multiple Choicecompetitive supply market, substitution is possible, total cost is a primary focuspetitive supply market, substitution is possible, price per unit is important.item substitution is possible, switching is difficult, many suppliers are available.item substitution and supplier switching are possible, but few suppliers are capable.few suppliers with adequate capability so substitution and switching are difficult.

Answers

Answer:

Competitive supply market, substitution is possible, price per unit is important.

Explanation:

A portfolio variance is used to determine the overall risk or dispersion of returns of a portfolio and it is the square of the standard deviation associated with the particular portfolio.

The portfolio variance is given by the equation;

[tex]Variance = w^{2}_{1} d^{2}_{1} + w^{2}_{2} d^{2}_{2}+2w_{1}w_{2}C_{OV_{1, 2}}[/tex]

Where;

[tex]w_{n}[/tex] = the weight of the nth security.

[tex]d^{2}_{n}[/tex] = the variance of the nth security.

[tex]C_{OV_{1, 2}}[/tex] = the covariance of the two security.

In the portfolio matrix, characteristics of goods and services in the leverage quadrant are competitive supply market, substitution is possible, price per unit is important. Thus, the leverage quadrant represents a significant part of expenditures and are really important for a business.

Ferguson Corporation's budgeted sales for the upcoming quarter are $900,000. Its supporting budgets and schedules show a beginning finished goods inventory of $60,000, budgeted cost of goods manufactured of $480,000, and a projected ending finished goods inventory of $40,000. Its selling and administrative budget projects expenses of $250,000, its budgeted interest expense is $10,000, and its tax rate averages 40%. 1. The company's budgeted gross profit for the upcoming quarter is $ . 2. The company's budgeted income before taxes for the upcoming quarter is $ . 3. The company's budgeted income taxes for the upcoming quarter are $ . 4. The company's budgeted net income for the upcoming quarter is $ .

Answers

Answer:

1. $400,000

2. $140,000

3. $56,000

4. $84,000

Explanation:

1. Budgeted gross profit = Budgeted sales - Budgeted COG sold

where, Budgeted COG sold = $480,000 + $60,000 - $40,000 = $500,000

By putting the value, we get

Budgeted gross profit = $900,000 - $500,000

= $400,000

2. Budgeted income before taxes = Budgeted gross profit - selling and administrative expenses - interest expense

= $400,000 - $250,000 - $10,000

= $140,000

3. Budgeted income tax = Budgeted income before taxes × tax rate

= $140,000 × 40%

= $56,000

4. Budgeted net income = Budgeted income before taxes - Budgeted income tax

= $140,000 - $56,000

= $84,000

A savings account that pays interest every 3 months is said to have a interest period. O A. monthly O B. quarterly O C. semiannual O D. daily​

Answers

Answer:

probly A im not forsure

Explanation:

A savings account that pays interest every 3 months is said to have an interesting period quarterly. Thus the correct option is B.

What is a savings account?

A fundamental kind of financial instrument that enables you to save your money and often earn a tiny bit of interest and utilize it at the time of Your emergency fund or savings for short-term goals is referred as a Savings account.

A savings account is considered to have semi-annual interest if interest is paid every six months. A quarterly fascinating period is said to exist in a savings account that pays interest every three months.

Similarly, A savings account that receives interest payments on a monthly basis is referred to as a monthly saving account, whereas a daily saving account receives interest payments on a daily basis.

Therefore, option B is appropriate.

Learn more about savings accounts, here:

https://brainly.com/question/3819980

#SPJ7

what are the importance of store​

Answers

Answer:

to get a source of our need

Answer:

Importance of Store-Keeping: The cost of materials is one of the largest elements of cost. Proper storing of materials is very important to prevent losses from damage, pilferage, and deterioration in the quality of materials.

Advise on the purchasing procedure

Answers

Answer:

The Purchasing Process

Needs Analysis. ...Purchase Requisition to Purchase Order. ...Purchase Order Review and Approval. ...Requests for Proposal. ...Contract Negotiation and Approval. ...Shipping and Receiving. ...Three-Way Matching. ...Invoice Approval and Payment.

Which plan would most likely NOT help you reach the savings needed for college? ​

Answers

D. Start saving about two months before college begins

All of the following shift the demand curve for automobiles to the right except:
a. the local factory gives a big raise to its employees
b. a brand new automobile dealership opens in town
c. the price of gasoline falls
d. none of the above​

Answers

Answer:

b. a brand new automobile dealership opens in town

Explanation:

All of the following shift the demand curve for automobiles to the right except: "a brand new automobile dealership opens in town."

The above statement is true because when a shift in the demand curve moves to the right, there is an increase in the quantity demanded, which can be caused by some factors such as:

increase in income,

growth in the price of a substitute or decrease in the price of a complement.

Hence, considering the available options in the question, the correct answer is " a brand new automobile dealership opens in town."

How can understanding the economy help you to make better financial decisions?

Answers

Answer:

Explanation:

No matter what the future holds, an economics major helps people succeed. Understanding how decisions are made, how markets work, how rules affect outcomes, and how economic forces drive social systems will equip people to make better decisions and solve more problems. This translates to success in work and in life.

Discuss the following ways of adapting to the challenges of the business environments: Lobbying​

Answers

it win or loose twfecbdkdhxfsftsushe

employees rarely arrive and leave exactly on the quarter hour so it would make sense to round employee arrival times to the nearest quarter hour?
A. False
B. True
Please be right

Answers

false !!!!!!!!!!!!!!!!!
it is false for sure

What would it mean to you and/or your family to be a part of Career Source Tampa Bay's 2021 Summer Job Connection program? What do you hope to take away from the program?

Answers

Answer:

It is job connection program organized by Career Source Tampa Bay for the youths of Hillsborough. It provides a platform for the unemployed youths of Hillsborough to connect themselves to the potential employers by learning new skills and experiences.

Explanation:

Career Source Tampa Bay is organizing a summer youth job connection program for the year 2021 for the youths of the Hillsborough County. It is summer job connection program for the youth who are aged between 16 to 24. It is organized by Career Source Tampa Bay.

It provides an opportunity for the youths and prepare them with skills and know how about the targeted jobs. It introduces them to real work filed and exposes them to new ideas and experiences and the potential career paths for the future jobs.

characteristics of mixed economy​

Answers

Answer:

- Protection of Labor Rights

- Co-surviving Public and Private Sectors

- Safeguarding of Consumer Rights

- Economic Planning

Explanation:

Don't know how many you're looking for, or what specifically, but those are a few that I've learned

Hope it helped

Select all that apply Review the following statements and select the ones which accurately describe a Petty Cash fund. Select all answers which apply. Multiple select question. It is established to pay for small payments like postage, shipping fees, etc. It is used to avoid the time and cost of writing checks for small amounts. It is an account used to record small sales amounts. It is an expense reported on the income statement. It is an asset reported on the balance sheet.

Answers

Answer:

It is established to pay for small payments like postage, shipping fees, etc.

It is an asset reported on the balance sheet.

It is used to avoid the time and cost of writing checks for small amounts

Explanation:

A Petty Cash is simply any amount of cash kept on hand and used for making small payments. It is usually placed on the asset account and it account also increases on the debit side and decreases on the credit side.

The Petty Cash fund is set up with the use of the following:

1. Date

2. Debit

3. Credit

4. Source Document

Businesses promote use of Petty Cash funds due to it having some small payments for which writing a check is not time or cost effective. It is increase by replacimg or putting more money back in the petty cash box. Before putting money, an evidence of the fund being put in to the box must be complete.

Answer:

It is established to pay for small payments like low-cost supplies and shipping fees, etc.

It is an asset reported on the balance sheet.

Explanation:

first answer is incorrect

Analysis of market share is a key to understanding the firm's:
O a. competitive environment.
O b. demographic strengths.
O c. social and cultural environment.
O d. technological environment.

Answers

Analysis of market share is a key to understanding the firm's:

O a. competitive environment.

O b. demographic strengths.

O c. social and cultural environment.

O d. technological environment

answer is A

Select the examples of Buying and Merchandising workplaces. Check all that apply.

warehouses
customers’ offices
grocery stores
clothing stores
offices
theaters

Answers

Answer:

2,3,4,5

Explanation:

...

Answer:

they are correct

Explanation:

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