The focal issue for audit procedures is the key queries that must be answered about administration's financial statement assertions.
What are the economic statement assertions for the balance sheet?There are four types of account balance assertions: Existence: The support, equity balances, and liabilities exist at the period ending time. Completeness: The assets, equity credits, and liabilities that are completed and considered to be recorded have been recognized in the financial statements. Assertions are the group of representations by a management team that was incorporated into the financial reports.
They are accuracy and valuation, existence, wholeness, rights and obligations, and display and disclosure.
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The amount of debt, time and method of payment, interest rate and other loan terms are part of the?
The amount of debt, time and method of payment, interest rate and other loan terms are part of the principal. The principal is the sum of money you initially promised to repay. The cost of borrowing the principal is interest. In general, any payment made on a vehicle loan will be used to cover any outstanding fees first (for example, late fees)
Recognizing PrincipalPrincipal is the initial sum of a loan in the context of borrowing; it can also refer to the balance still owed on a loan. The principal of a $50,000 mortgage, for instance, is $50,000. If you pay down $30,000, the remaining $20,000 is the primary balance.
The principal of a loan determines how much interest you pay. The amount of your monthly loan installments is applied to the accrued interest first and only then to the principle when you make a payment.
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What is the board primarily looking at when investigating any prospective purchaser?
When evaluating any potential buyer, the board focuses primarily on cash flow.
Cash flow is the net amount of cash and cash equivalents coming into and going out of a business. Inflows are represented by money received, and outflows are represented by money spent.
Ability to generate positive cash flows, or more specifically, potential to maximize long-term free cash flow, is ultimately what determines a company's ability to create value for shareholders . After deducting any funds used for capital expenditures, a company's free cash flow is the cash it generates from its regular business activities .
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When compared to exchange systems that rely on money, disadvantages of the barter system include:____.
In the barter system, items are swapped for other goods. When there is a two-fold coincidence of wants, this exchange of products for goods functions well. In the absence of such, a large number of pointless transactions must be made, wasting resources.
The requirement of a twofold coincidence of wishes is one of the drawbacks of the barter system in assessment to trading structures that depend upon cash.
The incapability to make postponed payments, the absence of a general unit of size, the problem of storing products, and the absence of double accident of wishes are other drawbacks of the barter machine.
the lack of a double coincidence of needs in barter is resolved by using cash as a medium of alternate because it separates the acts of sale and buy. Whoever needs your commodities should buy them from you for money, and you should purchase items from every person who desires to promote them for money. the use of cash as a form of change is typical.
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Green tea oreos in china, chocolate and peanut butter oreos in indonesia, and banana dulce de leche oreos in argentina are examples of kraft using ________ strategy.
Green tea oreos in China, chocolate and peanut butter oreos in indonesia, and banana dulce de leche oreos in Argentina are examples of kraft using multidomestic strategy.
What is multidomestic strategy?Multidomestic refers to a group of strategies used by companies that run operations concurrently in several countries. As their operations grow into overseas markets, smaller businesses will naturally behave differently than their larger rivals, with many of them choosing a multidomestic strategy.
A business approach that enables different subsidiaries of a multinational organization to compete independently in different domestic markets.
Thus, it is multidomestic strategy.
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What is a strategic business unit (sbu)? how does strategic planning differ at the corporate and the sbu levels?
Divisions that operate independently from one another and are built on certain goods or brands. These units inside the company each have their own goals, management, resources, and rivals.
A corporate mission is set by senior managers for the entire organization.
The company's top managers then assess the business's internal and external environments and establish corporate-level objectives that direct decision-making inside each distinct SBU.
If the company is large enough to have separate SBUs, each SBU will have its own goals that are pertinent to its operations while also being closely related to the corporate goals.
What is a SBU?An SBU, or strategic business unit, is a fully operational part of a company with its own mission and goals.
A strategic business unit is typically run independently, but it is also an essential component of the corporation. It informs the administrative center of its functioning condition.
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Where are newly issued securities sold?
A. issuance market
B. secondary market
C. primary market
D. securities and exchange market
The newly issued securities sold at C. primary market.
Where are newly issued securities sold?
New securities are been created and sold to investors for the first time using the exchange that is been done in the primary market.
It should be noted that once this done , the investors trade these securities on the secondary market, however the primary market is also known as the new issues market whereas the secondary market is been described as one where stock market or stock exchange.
Hence , newly issued securities sold at C. primary market.
Therefore, option C is a correct.
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A firm has an inventory period of 94.2 days, an accounts payable period of 40.4 days, and an accounts receivable turnover rate of 17.6. what is the length of the cash cycle?
The length of the cash conversion cycle is 74.54 days.
Given here, the accounts receivable turnover rate is 17.6.
First , we have to calculate the Days sales outstanding with the formula Days sales outstanding(DSO) = 365/Account receivable turnover
= 365/17.6
= 20.74days.
Now we have to calculate the cash conversion cycle, with the formula Cash conversion cycle= DSO + DIO - DPO (DSO=Days sales outstanding, DIO = days inventory outstanding, DPO= days payables outstanding) .
= 20.74+94.2-40.4
Cash conversion cycle = 74.54 Days.
The period (in days) it takes for a business to convert its investments in inventory and other resources into cash flows from sales is known as the cash conversion cycle (CCC). Cash Cycle, aims to quantify the length of time that each net input dollar spends in the production and sales cycle before it is turned into received cash. The CCC is one of a number of quantitative metrics that are used to assess how effectively a company's operations and management are conducted.
Rising CCC numbers should prompt more research and analysis based on other criteria, whereas declining or stable CCC values over several periods are a healthy sign. Keep in mind that the CCC only applies to certain industries that depend on inventory management and related activities.
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In the classical model, what adjusts to eliminate any unemployment of labor in the economy?
Real wages in the conventional model are adjusted to account for any economic labor shortages.
Real wages are salaries that have been prorated for inflation, or salaries expressed in terms of the quantity of goods and services that may be purchased. Contrast this phrase with nominal wages or unadjusted wages.
Real earnings offer a clearer picture of what an individual's pay may be used for, specifically the quantity of products and services that can be purchased, because they have been modified to take into account changes in the cost of goods and services.
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________ growth makes sense when good opportunities can be found outside the present businesses.
Diversification growth makes sense when good opportunities can be found outside the present businesses. Diversification implies bringing down your gamble by spreading cash across and inside various resource classes, like stocks, bonds and money.
What does Diversification means?Diversification is a corporate methodology to go into another items or product offerings, new administrations or new business sectors, including significantly various abilities, innovation and information.
In effective money management, diversification is the demonstration of putting an in a wide range of resources. Diversification means to lessen the general gamble of a speculation portfolio without decreasing the bring likely back.
Diversification is a strategy that lessens risk by designating ventures among different monetary instruments, enterprises and different classes. It expects to boost return by putting resources into various regions that ought to each respond diversely to changes in economic situations.
Therefore diversification alludes to the improvement of new items and administrations that are like the ones you as of now sell.
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A ________ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
A metric is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
What is a metric?
This is the term that is used to refer to what is used to measure all forms of quantitative measurements. They are used for the tracking of performance and they can also show production. It would be used in financial analysis and in other forms of mathematics.
Hence we can say that a metric is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
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Descriptive analytics helps detect hidden patterns in large quantities of data to group data into sets to predict behavior. True or false?.
False, Descriptive analytics do not help detect hidden patterns in large quantities of data to group data into sets to predict behavior
How does descriptive analysis work?Undoubtedly, descriptive analytics is the most user-friendly data analysis method. It involves dissecting (or parsing) data and summarizing its key components. This is how descriptive analytics summarises past occurrences without focusing on their methods or causes. Because it is essentially explanatory, descriptive analytics uses basic descriptive statistics. This includes measures of central tendency (mean, mode, and median), distributional metrics (frequency or count), and measures of variability (such as variance and standard deviation). Additionally, it assesses the location of other data points, such as the percentile range or interquartile range, as necessary. Descriptive analytics commonly use reports, pivot tables, and visualizations like histograms, line graphs, pie charts, and box-and-whisker plots to present their findings.
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All of the following except ________ will help you write effective messages for mobile device users.
All of the following, except including long paragraphs, will help you write effective messages for mobile users.
How to write effective messages for mobile devices?It is essential to understand that mobile devices are no longer just the function of making phone calls to be multimedia devices where the user can entertain themselves, make purchases and communicate, in a more flexible and faster way.
Messages for mobile devices such as smartphones must be clear and objective, in line with the purpose of the large flow of information through which the devices are able to process.
Therefore, it is not ideal to include long paragraphs in messages developed for mobile devices, as they should be concise and to the point, making communication dynamic, fast and simple.
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If a seller debits accounts receivable and credits revenue what must have occurred?
For the seller to debit accounts receivable and credit revenue, it means sales revenue has been recognized
When is sales revenue recognized?
Sales revenue is recognized when the seller has perform the required obligation such as delivery the requested goods or services not when the payment for the goods or services has been received
The rule of double entry is such that an asset account receivables is to debited to recognize a claim to a future cash payment and revenue is credited there is an increase in sales revenue.
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Modern marketers use blank______ to focus how they approach their customers and market their products.
Modern marketers use blank data analytics to focus how they approach their customers and market their products.
What is data analytics?Data analytics is the study of examining unprocessed data to draw inferences about that data. Numerous methods and procedures used in data analytics have been mechanized into mechanical procedures and algorithms that operate on raw data for human consumption.
The phrase "data analytics" is wide and includes a variety of different methods of data analysis. To gain knowledge that may be used to improve things, any sort of information can be submitted to data analytics techniques.
Data analytics methods can highlight measurements and trends that would otherwise be buried in the sea of data. A business or system's total efficiency can then be raised by using this information to optimize processes.
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Firm a and firm b have debt-total asset ratios of 33 percent and 23 percent and returns on total assets of 7 percent and 10 percent, respectively. what is the return on equity for firm a and firm b? (
The Return on Equity for firm a and firm b is 13%
Return on Equity
A metric of financial performance known as return on equity (ROE) is obtained by dividing net income by shareholders' equity. ROE is referred to as the return on net assets since shareholders' equity is determined by subtracting a company's debt from its assets. ROE is regarded as a barometer of a company's profitability and how well it produces profits. The management of a firm is more effective at generating income and growth from its equity financing the higher the ROE. Any corporation can calculate its ROE in percentage form if its net income and equity are both positive figures. Before dividends given to common shareholders, after payouts to preferred shareholders, and before interest paid to lenders, net income is computed.
Return on equity=
Net Income/Equity = Net Income/Asset x Asset/Equity = Return on Asset x Asset x Asset - Equity ratio
For Firm A, return on asset is 7%, asset-equity ratio= 1/(1-debt-asset ratio)=1/ (1-33%)=1.49
Return on equity=1.49[tex]\times 7%=10.45%[/tex]%
=10.45%
For Firm B, return on asset is 10%, asset-equity ratio=1/(1-debt-asset ratio)=1/(1-23%)=1.30
Return on equity= 1.30[tex]\times[/tex]10% = 13%
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When the market price of a good increases, the amount that sellers are willing to offer for sale increases. True or false?.
When the market value of a good increases, the quantity that sellers are willing to offer for sale increases. This statement is true .
Elaborate:
Prices that are raised normally cause reduced demand while people who are raised typically cause higher supply.Although the impact on the equilibrium quantity can't be determined, an increase in demand and a decrease in supply will result in an increase in the equilibrium price.
Consumers now place a better value on goods, and producers must charge a better price to offer the goods; as a result, prices will rise for all quantities.
What is market price?
The market value is the current price at which a good or service can be purchased or sold. The market value of an asset or service is determined by the forces of supply and demand; the price at which quantity supplied equals quantity demanded is the market price.
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Under both accrual-basis and cash-basis accounting, all revenues and expenses are recorded at the same point in time. True or false?.
It is false that under both accrual-basis and cash-basis accounting, all revenues and expenses are recorded at the same point in time.
What is accrual-basis accounting?In the world of finance, accrual refers to the process of accumulating interest or various investments together over time.When a transaction is documented as having occurred rather than when a payment is made or received, this accounting method is known as accrual accounting. According to the matching principle, income and expenses should be recorded in the same period, and this is how the approach operates.Any income made or expense incurred for which money has not yet been exchanged requires accruals. By including relevant information regarding recently extended short-term credit to consumers and upcoming liabilities owed to lenders, accruals enhance the quality of the information on financial statements.Learn more about accrual accounting here:
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When a company's receivables are used as security for a loan, the company is said to have _____ its receivables. multiple choice question. sold pledged secured factored
When a company's receivables are used as security for a loan, the company is said to have pledged its receivables.
Accounts receivable pledging occurs only when any business uses its accounts receivable asset as collateral on any loan, generally a line of credit.
When accounts receivables are used in this given manner, the lender only limits the amount of the loan to either:
70% to 80% of the total amount of outstanding accounts receivable or
a percentage of the accounts receivable which declines based on the age of the receivables.
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Of the following types, the last objectives that a firm should specify are its ________ objectives.
a) promotion
b) company
c) marketing
Of the following types, the last objectives that a firm should specify are its Advertising objectives.
What are the Objectives of firm?Firms are legal entities that work to offer goods and/or services to their customers, government agencies, and other enterprises.
Profit in economics refers to the returns that exceed the opportunity cost. It is also known as the pure profits.
Most businesses' primary goal is to maximize profits. They can reinvest it, increase dividends, reward entrepreneurship, and so forth.
When the marginal cost equals the marginal revenue, profit maximization occurs. When the average cost equals the average income, which is also breakeven, the goal of sales maximization is attained.
When the marginal revenue is equal to zero, revenue maximization happens. The notion of satisficing refers to forsaking earnings in order to please as many essential stakeholders as feasible.
The separation of ownership and control is also known as the Principal-Agent issue.
Complete Question :-Of the following, the last objectives that a firm should specify are its _______ objectives .A) marketing objectives.B) promotion objectives.C) company objectives.D) advertising objectives.E) price objectives.
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_____ are organizations formed by individuals or businesses with similar interests to achieve greater economies of scale and economic power through collective ownership.
The answer is :- Cooperatives.
Cooperatives are groups created by people or companies with related goals in order to use collective ownership to achieve greater economies of scale and economic power.
What is "Ownership"?People frequently use the word "ownership" in the workplace. Usually, and regrettably, this occurs when there is a lack of ownership on the part of the individuals. What do we mean, though, when we claim that someone is (or is not) taking ownership of something ownership We'll look at the idea of ownership in a number of pieces because it's crucial in any workplace. In this article, we will first clarify what we mean by ownership. In our next post, we'll go through why a lack of ownership is so harmful to organizations. We'll wrap off by discussing how businesses and managers can encourage employee ownership.
Being responsible for something and seeing it through to completion is what ownership entails.
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Which form of communication would be the most appropriate in high-context cultures?
High-context cultures frequently use subtle nonverbal cues and less overt vocal expressions to communicate, adding additional meaning to these communications.
What is High-context cultures ?
According to Hall, a high-context culture is one in which the use of contextual cues is the primary and dominating method of transmitting communication rules. These include particular types of body language, a person's social or familial standing, and the tone of voice used when speaking. High-context cultures typically lack explicitly stated or written regulations. Low-context cultures, in contrast, are those where rules are explicitly expressed or written down for everyone to see and where the majority of communication occurs verbally.Recognizing that all cultures incorporate elements of both high-context and low-context communication is crucial since this means that no culture can be completely classified as belonging to either one over the other.To know more about High-context culture visit:
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Josh is willing to pay $500 for a set of tire, but he is able to pay $300 at the local tire store. his consumer surplus is:________
a) $800.
b) $300.
c) $200.
d) $500.
Answer:
200
Explanation:
Thomas collects dimes and quarters in his change jar. if he has 4 more dimes than quarters, and the total amount of money in the jar is $26.30, find the number of each type of coin in the jar?
There are 75.29 quarters and 79.29 dimes in the jar.
Given,
In his change jar, Thomas collects dimes and quarters.
So if he has 4 more dimes than quarters, and the total amount of money in the jar is $26.30
Thus,
Let, x be the number of dimes.
And y be the number of quarters.
If Thomas has 4 more dimes than quarters,
y = x + 7
On the other hand, the total amount of money in the jar is $26.30.
0.24x + 0.10y = 26.30
Substitute the value of y in the given equation 2
0.24x + 0.10y = 26.30
0.24x + 0.10 (x+7) = 26.30
0.24x + 0.10x + 0.7 = 26.30
0.34x = 26.30 - 0.7
0.34x = 25.6
x = 25.6 / 0.34
x = 75.29
Substitute the value of x in the given equation 1
y = x + 4
y = 75.29 + 4
y = 79.29
Hence, there are 75.29 quarters and 79.29 dimes in the jar.
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People with an internal locus of control don't react well to close supervision, so managers should:________
People with an internal locus of control don't react well to close supervision, so managers should give them a considerable voice in how work is performed.
Who are managers?A general manager (GM) is in charge of all or a portion of the activities carried out by a department or by the entire business, including raising money and keeping expenditures under control. One of the senior executives in small businesses might be the general manager. GMs are placed behind corporate-level leaders in hierarchical organizations but above the majority of employees. Depending on the organization's structure, each company may have a different level of responsibility and importance attached to a certain position.
Lower-level supervisors are supervised by the GM. These lower-level managers may oversee a number of lesser departments, but they still answer to the GM. The GM provides each department head with clear instructions. A general manager is responsible for this oversight, including the hiring, development, and coaching of lower-level managers.
Thus, In addition to offering strategic plans for the organization based on company goals, the GM may set incentives for employees and evaluate the effectiveness of departments.
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Aligning the firm's philosophy with that of a potential channel partner would be identified in the channel strategy of ________.
Aligning the firm's philosophy with that of a potential channel partner would be identified in the channel strategy of "Character."
What is channel strategy?A channel strategy is a strategy used for a vendor to keep moving its product or services to the end buyer by utilizing the chain of commerce.
Some key points related to channel strategy are-
A product or service is moved from vendor to the customer via channel partners, according to the vendor's plan. Channels perform two distinct functions. One function is to sell a service or product while the other is to provide a customer experience. To sell goods and services, businesses employ a channel distribution strategy that encompasses both direct and indirect channels.A distribution channel strategy is the ideal method for promoting the products, facilities, and brand identity.For example, if you own a small business with simple as well as small products that don't require much support, such as a stationery shop, users can use simple digital and traditional marketing techniques. If, on the other hand, you run a brick-and-mortar store or another type of large manufacturing firm, you may require resellers and channel members to expand your sales channel strategy.To know more about the channel strategy, here
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True or false: it is recommended to minimize interruptions in cpr for pulse checks and shocks.
The statement "it is recommended to minimize interruptions in CPR for pulse checks and shocks." is TRUE. Option A
This is further explained below.
What is CPR?Generally, In an effort to manually maintain intact brain function while additional steps are taken to reestablish spontaneous blood circulation and respiration in a person who is experiencing cardiac arrest, cardiopulmonary resuscitation, or CPR, is an emergency procedure that involves chest compressions that are frequently combined with artificial ventilation.
In conclusion, It is suggested to minimize pauses in chest compressions for pulse checks and shocks. The remark that "this should be done only when needed" is accurate.
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If barbara is only able to purchase 20 bags of chocolate-covered peanuts, the maximum price she is willing and able to pay for each bag is ________ cents.
Based on the fact that Barbara is only able to purchase 20 bags of chocolate-covered peanuts, the maximum price she is willing and able to pay is $0.70.
What is the maximum price Barbara is willing to pay?The maximum price that Barbara is willing and able to play is the price that tallies with the number of bags of chocolate-covered peanuts that she demands per month.
Barbara demands 20 bags of chocolate-covered peanuts which means that the maximum she is willing to pay from the table is $0.70.
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Which individuals helped pioneer administrative management theory?
Answer: Charles Clinton, max Weber
Explanation:
Henri Fayol (1841–1925) and Max Weber (1864–1920) helped pioneer administrative management theory
Administrative management theory attempts to find a rational way to design an organization as a whole.
The theory generally calls for a formalized administrative structure, a clear division of labor, and delegation of power and authority to administrators relevant to their areas of responsibilities.
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Adjusting entries always include:________
a. only balance sheet accounts
b. the cash account
c. at least one income statement account and one balance sheet account
d. only income statement accounts
Adjusting entries always include c. at least one income statement account and one balance sheet account.
What is Adjusting entries?Adjusting entries can be described as those changes that is been made on the journal entries that have already been recorded.
This is usually done so as to make sure that the numbers that have been recorded match up to the correct accounting periods.
It should be noted that Journal entries is been used to track how money moves as well as how it enters the business, hence Adjusting entries always include c. at least one income statement account and one balance sheet account.
Therefore, option C is correct.
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Kelly's company is selecting a manager to expand operations in china. kelly's boss says the new manager must display high cultural intelligence. what would most likely help kelly get the job?
If Kelly's company is selecting a manager to expand operations in china. kelly's boss says the new manager must display high cultural intelligence. what would most likely help kelly get the job is: displaying appreciation for diversity.
What is cultural intelligence?Cultural intelligence can be defined as the ability of a person to know about different culture and to as well adapt and relate with people that are of culture that is different from theirs.
Based on the scenario kelly can get the job if he display the appreciation for cultural diversity which will inturn enables the recruiter known that kelly has knowledge about other cultures.
Therefore if Kelly's company is selecting a manager to expand operations in china. kelly's boss says the new manager must display high cultural intelligence. what would most likely help kelly get the job is: displaying appreciation for diversity.
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