a. Evaluating the effectiveness of the client's internal control in preventing or detecting misstatements - Risk assessment, Reasonable assurance
b. Obtaining an understanding of the client's business and industry - Planning and supervision
c. Acknowledging that the risk of failing to detect a material misstatement cannot be reduced to zero - Reasonable assurance, Materiality
What are the statements?d. Obtaining confirmations from the client's customers as to the ending balances in accounts receivable - Audit evidence
e. Preparing a written audit plan - Planning and supervision
f. Designing audit procedures to identify misstatements that would have a significant effect on financial statement users' decisions - Planning and supervision, Materiality
g. Considering the likelihood that the account balance contains a material misstatement - Risk assessment, Materiality
h. Failing to detect material misstatements because of audit team mistakes and misinterpretations in evaluating evidence - Reasonable assurance, Audit evidence
Read more about Reasonable assurance
https://brainly.com/question/23134612
#SPJ1
Prepare compound journal entries for each transaction.
a. The owner, J. Cruz, invests $6,500 cash and $3,500 of equipment in the company.
b. The company acquires $2,000 of supplies by paying $500 cash and putting $1,500 on credit (accounts payable).
Answer:
a. The owner's investment can be recorded as follows:
Debit: Cash $6,500
Debit: Equipment $3,500
Credit: Capital (J. Cruz) $10,000
b. The acquisition of supplies can be recorded as follows:
Debit: Supplies $2,000
Debit: Accounts Payable $1,500
Credit: Cash $500
Credit: Accounts Payable $1,500
For the owner's investment, create separate entries for cash and equipment. For the acquisition of supplies, create separate entries for cash payment and credit purchase.
Explanation:a. To record the owner's investment of $6,500 cash and $3,500 of equipment in the company, we will make two separate entries. The first entry is a debit to Cash for $6,500 and a credit to Owner's Equity for $6,500 to record the owner's cash investment. The second entry is a debit to Equipment for $3,500 and a credit to Owner's Equity for $3,500 to record the owner's equipment investment.
b. To record the acquisition of supplies, we will make two separate entries. The first entry is a debit to Supplies for $2,000 and a credit to Cash for $500 to record the payment in cash. The second entry is a debit to Supplies for $1,500 and a credit to Accounts Payable for $1,500 to record the purchase on credit.
Learn more about Compound journal entries here:https://brainly.com/question/20421012
#SPJ11
The transaction, RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT, would result in which journal entry? debit cash and credit accounts receivable/Parker, inc.
The note in the journal reads: "Transaction: Received check from Parker, Inc., in payment on its account, debit cash, credit accounts receivable/Parker, Inc."
What does credit and debit mean in the context of accounts receivable?Debit denotes assets (i.e., things you possess or are obligated to hold) and credit denotes liabilities, according to the fundamental accounting principle (something you owe). Because they are cash that will soon be paid to you, which you will own and profit from, accounts receivable are always reported as assets on a balance sheet.
Receivables are increasing on the debit side while decreasing on the credit side. When a debtor makes a cash payment, the amount of cash rises while the number of accounts receivable falls. At the time of recording the transaction, cash is subtracted and accounts receivable are credited.
Learn more about accounts receivable: https://brainly.com/question/17227269
#SPJ4
stockholders' equity is: multiple choice question. decreased by additional investments made by stockholders during the year increased by net income for the year increased by dividends paid during the year increased by bonds issued during the year
Stockholder's equity is: increased by net income for the year.
The ownership stake of a company's shareholders is shown as a segment on the balance sheet known as stockholders' equity. It is the remaining ownership stake in a company's assets after obligations have been subtracted. Profits made by a corporation are reported as net income and are included in stockholders' equity on the balance sheet. The stockholders' ownership interest in the firm is so increased.
Stockholders' equity is the sum of an investor's assets after obligations have been subtracted from and paid off. It is also known as shareholder equity or the book value of a corporation. Stockholders' equity, to put it simply, is the difference between a company's assets and liabilities.
To learn more about stockholder's equity:
https://brainly.com/question/13278063#
#SPJ4
A check that is made payable to a specific person is? A.a special endorsement
B.a blank endorsement
C.a restrictive endorsement
D.none of the above
Answer:
The answer is "A" that is Special endorsement.
which of the following reflects the impact of a transaction where $260,000 cash was invested by stockholders in exchange for stock?Assets and revenues each increased $330,000.Stockholders' equity and revenues each increased $330,000.Stockholders' equity and assets each increased $330,000.Assets and liabilities each increased $330,000.
The following illustrates the results of a monetary investment made by investors in exchange for stock. Assets have changed by $147,500.
Assets = Liabilities + Stockholders' Equity = Liabilities = Assets - Stockholders' Equity is the accounting formula for a corporation. Equity equals $285,000 minus $130,500, or $154,500.
Liabilities amount at year's end equals beginning liabilities plus changes in liabilities, or $154,500 + $90,000 + $244,500.
Stockholders' equity is equal to their equity plus any changes, which comes to $330,000 + $37,500 = $168,000 in total.
The assets at year's conclusion were $330,000 plus $244,500 for a total of $512,500.
$412,500 - $285,000 = $147,500 is the change in assets.
Learn more about Stockholders.
https://brainly.com/question/13830325
#SPJ4
the financial institutions that experienced a dramatic increase in their share of total fi assets during the period 1948 to 2019 are
Investment firms, securities broker/dealers, and pension funds are among the financial organizations that saw a high rise in their share of total Florida assets between 1948 and 2016.
Which of the following issuers must submit reports to the SEC in accordance with the Securities Exchange Act of 1934?The SEC only receives annual and semi-annual reports from companies, trusts, and investment entities. Federal or municipal issuers are not covered by the Securities Exchange Act of 1934.
What are the responsibilities of brokers and dealers in finance and securities?Securities and finance dealers and brokers buy and sell securities, stocks, bonds, and other financial instruments for their own company or on behalf of clients on a commission basis. They also trade on the spot or futures foreign exchange markets and recommend transactions to clients or senior management.
Learn more about Securities Exchange Act of 1934: https://brainly.com/question/29737854
#SPJ4
Select all that apply
Which of the following are the major parts of creating learning organizations? (Choose every correct answer.)
Multiple select question.
Create and acquire knowledge
Restrict knowledge to top management
Transfer knowledge
Modify behavior to use knowledge
Create and acquire knowledge
Transfer knowledge
Modify behavior to use knowledge
The key components of developing learning organizations are as follows:
knowledge creation and acquisitionChange behavior to reflect knowledge transferSpreading knowledgeWhich 4 organizational learning stages are there?We divide organizational learning into four processes—search, knowledge generation, knowledge retention, and knowledge transfer—in order to comprehend this diversity.
The term "Learning Organization" was initially used by Peter Senge to refer to an organization where employees continuously learn new skills and develop their creative capacities. It consists of five primary disciplines: a business that supports its employees' learning and undergoes constant change. as well as collective intelligence, mental models, self-mastery, and systems thinking.
To know more about organizations Click here: brainly.com/question/19334871
#SPJ4
which statements are true regarding the administrator's right to inspect a broker-dealer's books and records? i records of the broker-dealer can only be inspected by the administrator in the state of registration ii records of the broker-dealer can be inspected in any state by the administrator of the state in which the broker-dealer is registered iii inspections by the administrator must be scheduled in advance with the broker-dealer iv inspections by the administrator can be made without prior notice given to the broker-dealer
If a salesperson leaves a company where he works,
the agent, the broker-dealer, and the agent whose
must give five days' notice to the administration says. Kingdom directors collaborate with districts to create.
colleges that manage national and federal grants
applications, enforcing kingdom regulations, and
rules. Making plans and fulfilling duties are
investing, providing technical assistance, and monitoring and assessment, as well as reporting and compliance.
If the manager finds out that someone has
pursuing or about to pursue any interest anything might offend us, the administrator might issue a stop-and-desist order as well. A It is possible to issue a cease-and-desist order without listening. The executive has the authority to Save you from violations before they happen. Injunctions are judicial orders that should ideally be granted by a court of law rather than by an administrative body made up of a national securities administrator.
Complete question:
Which statements are true regarding the administrator's right to inspect a broker-dealer's books and records? i records of the broker-dealer can only be inspected by the administrator in the state of registration ii records of the broker-dealer can be inspected in any state by the administrator of the state in which the broker-dealer is registered iii inspections by the administrator must be scheduled in advance with the broker-dealer iv inspections by the administrator can be made without prior notice given to the broker-dealer When must the agent and the broker-dealer notify the state administrator that an agent has parted ways with them?
To know more about Administration visit:
https://brainly.com/question/28215401
#SPJ4
Which of the following statements is true? A. Contributed capital is a noncurrent asset.
B. Current liabilities are debts expected to be paid within the next year.
C. Current assets are resources of a company that might include cash and copyrights.
D. Patents, copyrights, and research and development expense are classified as intangible assets on the balance sheet.
Current liabilities are debts expected to be paid within the next year is a true statement. Thus, option B is correct.
What is Current liabilities?The short-term debts that are due within a year or during the course of a typical business cycle are known as current liabilities. When a business buys inventory and turns it into cash from sales, the process is known as an operating cycle, also known as the cash conversion cycle. A current liability would be money owed to suppliers in the form of accounts payable.
Current assets are assets that are depleted within a year, and they are typically used to settle current liabilities. Cash or accounts receivable, which is money owed by clients for sales, are examples of current assets. In assessing a company's ongoing capacity to settle its debts when they become due, the ratio of current assets to current liabilities is crucial.
Learn more about current liabilities
https://brainly.com/question/13076734
#SPJ4
jane nieto is a relatively new sales agent sponsored by triple a realty. jane is authorized to do residential and commercial sales and leasing. jane's new client, sonic drive-ins, is looking to purchase raw land to build a new restaurant. triple a should ensure that jane is competent in which of the following areas to properly represent her client? a. All of these
b. Local zoning laws
c. Real estate investment principles
d. Real estate financing principles
Option D, Real estate financing principles, is correct.
What are Real estate financing principles?Real estate financing principles are the fundamental ideas and methods utilized to secure money for real estate initiatives, like the acquisition or development of real estate. These concepts include being aware of the many forms of real estate financing, including mortgage loans, construction loans, and bridge loans, as well as the variables affecting interest rates and loan conditions.
One key idea is the correlation between loan-to-value (LTV) ratio and interest rate, where a greater LTV ratio frequently entails a higher rate of interest because it entails a larger risk for the lender. Understanding the loan amortization procedure, which describes how interest and principal payments are applied and how the loan total lowers over time, is another important idea.
To know more about Real estate financing principles visit:
https://brainly.com/question/28236000
#SPJ4
when the seller requires that only certain dealers carry its products and also that these dealers not handle competitors
when the seller requires that only certain dealers carry its products and also that these dealers not handle competitors, then this strategies are called exclusive dealing
In Economics and Law, exclusive haggling arises when a supplier entails the buyer by placing limitations on the rights of the buyer to choose what, who and where they deal. This is against the law in utmost countries which include the USA, Australia and Europe when it has a significant impact of mainly lessening the competition in an assiduity. When the deals outlets are possessed by the supplier, exclusive haggling is because of perpendicular integration, where the outlets are independent exclusive haggling is illegal( in the US) due to the Restrictive Trade Practices Act, still, if it's registered and approved it's allowed. While primarily those agreements assessed by merchandisers are concerned with the comprehensive literature on exclusive haggling, some exclusive dealing arrangements are assessed by buyers rather of merchandisers.
To know more about exclusive dealing, visit: brainly.com/question/29317646
#SPJ4
The babylonians created some of the earliest written laws, the most famous being the code of Hammurabi, which was written primarily in response to which of the following? A) an increase in private commerce and property ownership
B) Demands for justice on the part of manual laborers and slaves
C) Confusion caused by the conflicting judgements handed down by different kings
D) The growth in the member of foreign residents who followed different laws
The most well-known of them is the Code of Hammurabi, which was primarily created in reaction to the following: C) The uncertainty brought on by the contrasting rulings made by several kings
What does the Code of Hammurabi say just before the list of laws?
The Code of Hammurabi is an ancient Babylonian law code that was written on a stele by the sixth Babylonian king, Hammurabi, in 1754 BCE. The code is preceded by a prologue that reads: "Hammurabi, the lofty prince who feared God, was summoned by the names of Anu and Bel to establish the rule of righteousness in the realm and to wipe away the wicked and the evildoers so that the powerful would not oppress the helpless. So that I should rule over the black-headed people like a shepherd, and enlighten the land, to further the well-being of mankind. The prologue states Hammurabi's mission is to establish justice and righteousness in the land, to protect the weak from the strong and to bring about a society where everyone is treated fairly.
It also expresses his belief that his rule is divinely-ordained, as he was called by name by the gods Anu and Bel. The code that follows is meant to be an example of how this mission can be achieved.
To learn more about Hammurabi refer :
https://brainly.com/question/710846
#SPJ4
Due in a large part to advances in technology, ________ is a major trend whereby product and service producers are bypassing intermediaries and going directly to final buyers, or radically new types of channel intermediaries are emerging to displace traditional ones.
A) the vertical marketing system
B) the corporate marketing system
C) disintermediation
D) the corporate merger
E) the hostile takeover
Correct answer is option C. Due in a large part to advances in technology, disintermediation is a major trend whereby product and service producers are bypassing intermediaries and going directly to final buyers, or radically new types of channel intermediaries are emerging to displace traditional ones.
The process of eliminating the mutual fund in a payment is referred to as disintermediation. It may enable a consumer to purchase directly from a supplier instead of from a middleman such as a retailer, or it may allow a business to acquisition process from the a manufacturer rather than a distributor.
It is seen in the financial sector when an investor can buy stock straightforwardly rather than through a real estate agent or a financial firm. Disintermediation is typically used to reduce costs, increase speed delivery, or both. Cryptocurrencies are removing the financial sector and government from the middle of monetary transactions.
To learn more about disintermediation refer here
brainly.com/question/29218035#
#SPJ4
when we are forced to make choices, we are facing the concept of: group of answer choices free goods. scarcity. ceteris paribus. the margin.
People face the idea of scarcity when we are compelled to make decisions. Compared to their limitless wants and demands, resources like time, money etc. are scarce because of their restricted availability.
This idea serves as the cornerstone of economics and informs all economic judgements. When resources are limited, people must decide how to distribute them to optimise their enjoyment. This necessitates analysing the advantages and disadvantages of various solutions and determining trade-offs. In essence, scarcity causes people to distribute their resources, and it is these decisions that form the basis of an economy. The idea of scarcity ultimately serves as a reminder that we cannot have everything we desire and that we must make decisions regarding how to utilise our resources in order to accomplish our objectives.
learn more about scarcity here:
brainly.com/question/30123232
#SPJ4
Goldman Sachs is a white-shoe investment bank. The firm does well by maintaining close connections throughout the business, investment, and political worlds and staying wel-informed. Hank Paulsen, a former CEO, became the U.S. Secretary of the Treasury and managed the Treasury during the Great Recession of 2008-2009. To maintain its connections, Goldman hires people o a. who are people-oriented o b.who have worked in government. o c. of varied backgrounds.
o.c. of varied backgrounds, To maintain its connections, Goldman hires people of varied backgrounds.
What is the definition of a bank?bank, a business that deals with money and its alternatives as well as other financial services. A bank lends money and accepts deposits as part of its function as a financial middleman.
What do bank services entail?Banking Services are all services that are typically offered by banks or that are also provided by the Corporation or its affiliates. The financial institutions will lend the money to debtors, trying to charge the debtors a higher interest and profiting from the rate of interest spread. Asset management, retail or commercial remit or lending business, and all other services are included under this definition.
To know more about corporation visit:
https://brainly.com/question/11745931
#SPJ4
which of the following is an example of reinforcing as persuasion? group of answer choices getting people who already donate blood to donate more often giving a student $500 to participate in a research study reciting a mantra to yourself to feel more motivated in the morning convincing your employee to work over the weekend by threatening to fire them
Option (a), A technique used to persuade those who already donate blood to do so more regularly is reinforcement.
What is the reinforcement theory of persuasion?Persuasion in Reinforcement Theory: Context. A description of the hypothesis A change in viewpoint that leads to a change in attitude can be achieved through providing reinforcement in areas such as acceptance, comprehension, and attention.
What exactly is a persuasive strategy?The methods or strategies authors employ to take a position on a subject and persuade their audience to share a particular point of view or attitude are known as persuasive approaches. According to their target audience, goals, and writing genre, authors change their persuasive methods.
Learn more about Persuasive techniques: https://brainly.com/question/29640806
#SPJ4
The complete question is:
which of the following is an example of reinforcing as persuasion?
group of answer choices
(a) getting people who already donate blood to donate more often
(b) giving a student $500 to participate in a research study
(c) reciting a mantra to yourself to feel more motivated in the morning
(d) convincing your employee to work over the weekend by threatening to fire them
registration of securities in a state by coordination becomes effective: a 2 business day after the filing with the state is completed b 5 business days after the filing with the state is completed c 10 business days after the filing with the state is completed d when the sec registration becomes effective
Coordination-based registration of securities takes effect a few business days after the state has received the filing. The correct option is option b.
A registered security is either one whose transfer is prohibited or one whose owner is recorded with the issuer. Securities whose ownership is recorded with the issuing business or its agent are referred to as registered securities. Debt securities, equity securities, derivative securities, and hybrid securities—a mix of debt and equity—are the four primary categories of security. A corporation must register with the Securities and Exchange Commission (SEC) in order to submit the necessary paperwork outlining the specifics of a planned public offering. The prospectus and private filings are normally the two components of the registration.
To learn more about securities tap here:
brainly.com/question/28070333
#SPJ4
A contingent liability typically is accrued for product warranties because it meets which of the following criteria?A future loss is probableThe amount of the future loss can be reasonably estimated
For product warranties, a contingent responsibility is often incurred because it fits which of the following requirements. A loss in the future is likely.
An obligation that arises dependent on the outcome of a certain occurrence and provides coverage for damages to a third party for whom the insured is vicariously liable is known as a contingent liability, also known as indirect liability.
The three categories of contingent liabilities as defined by GAAP are probable, plausible, and remote.
A company's financial statements never include contingent liabilities. Although these duties have not yet materialized, they might do so in the future. Therefore, contingent liability is not treated in an accounting sense. These contingent liabilities now need to be examined annually.
Learn more about contingent liability here brainly.com/question/29035187
#SPJ4
which of the following is not an expected outcome from strategic group map analysis. group of answer choices it may reveal gaps in the industry where there is very little current competition. it will provide a good overview of the profit potential of the industry. it provides an opportunity to see other potential paths to success. it helps you to focus on the most relevant competitors.
It provides an opportunity to see other potential paths to success is not an expected outcome from strategic group map analysis.
What is strategic group map analysis?The application of strategic group map analysis in strategic management allows for the visual representation of various companies' locations within an industry depending on their market positioning. Key strategic characteristics, such as product differentiation, cost structure, or target market segments, are used to plot companies on a two-dimensional graph to conduct the analysis.
The goal of this research is to paint a clear picture of the industry's competitive environment so that businesses can better comprehend their positions compared to others and those of their rivals. A company's future course can be decided using this information to help in strategic decision-making.
To know more about strategic group map analysis visit:
https://brainly.com/question/17304685
#SPJ4
C. F. Lee Inc. has the following income statement. How much after-tax operating income does the firm have? Sales $2,850.00 Costs 1,850.00 Depreciation 192.00 EBIT $ 808.00 Interest expense 285.00 EBT $ 523.00 Taxes (35%) 183.05 Net income $ 339.95
C. F. Lee Inc. records $525.20 of after-tax operating income.
After-tax operating income refers to a company's total operating income after being deducted by income taxes. After-tax operating income excludes any after-tax benefits. After-tax operating income can be calculated using formula:
After-tax operating income = Operating income x (100% - income taxes)
From the case, we know that:
Sales = $2,850
Costs = $1,850
Depreciation = $192
EBIT = $808
Interest expense = $285
EBT = $523
Taxes (35%) = $183.05
Net income = $339.95
To calculate the after-tax operating income, we will use EBIT value as the operating income. Hence, after-tax operating income would be:
After-tax operating income = EBIT (100% - income taxes)
After-tax operating income = $808 (100% - 35%)
After-tax operating income = $808 x 65%
After-tax operating income = %525.20
Learn more about After-tax Operating Income here: brainly.com/question/14310665
#SPJ4
European Union is the best example of
Trade agreement
Trade alliance
Market grouping
Exchange control
The EU is the best illustration of a trade deal. Therefore, the first choice in the answer choices, or trade agreement, is the right response.
What was European Union ?All of the aforementioned are accurate answers. Offering freedom, security, and justice across borders is the EU's main purpose. The EU was first founded as a commercial union, but over time it evolved into a legal and political structure. Countries in the EU are supporting progress and battling social marginalisation in relation to cultural diversity.
One of the most globalised economies is that of the European Union. It is also the largest single market region in the entire planet. One of the basic foundations of the EU was free trade among its members, and it is dedicated to opening up world trade as well.
Learn more about European Union here
https://brainly.com/question/11222834
#SPJ1
john and mabel's company, high-tech solutions, is a medium-sized high-tech firm with a core employee group of highly skilled professionals. around this core is a group of twice as many part-time contract programmers and other computer professionals. as they win programming contracts, they hire contract workers. when work slows, they let the part-timers go but keep their core group. their target industries are facing increasing government scrutiny and possible regulation due to the number of firms that are doing poor work and causing long-term problems for customers. john believes, when hiring for either the core group or for the part-time work force, they need to look not only at each candidate's technical work skills and competency but also think about other factors as well: the candidate's emotional control, team orientation, self-awareness, self-esteem, and what the company has to offer them in terms of family support. mabel agrees to a degree. she thinks that the key to productivity and quality is through their people, but she wants to focus more on technical competencies and less on the other areas john mentions. high-tech solutions uses teams extensively. employees are trained how to work in teams, handle conflict, work cooperatively, etc. joan, a five-year veteran at high-tech, plays softball in a church league with several of her coworkers. she has asked for investment advice from a couple of the work-group members who are heavily into the stock market. she, in general, highly enjoys her work because of the relationships she has with her coworkers. in sharp contrast, one of the new employees is having a hard time with her supervisor. she wants greater independence and more affirming feedback. the supervisor wants to be sure the new employee can do her job, so he is supervising closely and is giving a lot of corrective feedback. refer to case 1.1. john's approach to hiring is an example of the concept of hiring
The idea of employing a total person is demonstrated by John's hiring strategy.
The Total Person concept is a way of life that emphasizes goal-setting and action plans that take into account six crucial areas: family and home, financial and career, mental and education, physical and mental well-being, social and cultural diversity, and morality and ethics. In this individualized Plan of Action, self-evaluations are used to help people determine their values, set priorities, and set goals. These efforts enable the individuals in your business to establish equilibrium in all six spheres of existence. People who attain that balance are happier and more productive, according to study, and when everyone is more productive, your organization as a whole performs better.
To learn more about hiring strategy from
brainly.com/question/30096628
#SPJ4
Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of A. perceived threats. B. value loss. C. risk. D. exposure.
Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of risk. Thus, option c is correct.
What is risk?Business risk is the exposure a company or organisation has to element(s) that will reduce its profits or cause it to fail. A business risk is anything that compromises a company's ability to reach its financial objectives. There are numerous factors that may combine to produce business risk. Sometimes a company's top management or leadership is the one who creates circumstances in which a business may be more exposed to risk.
However, there are times when a company's external environment is the source of risk. As a result, a business cannot completely protect itself from risk. However, there are ways to reduce the overall risks connected with running a business; most businesses achieve this by implementing a risk management strategy.
Learn more about risk
https://brainly.com/question/23269329
#SPJ4
comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.
Our business cultures comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.
What is the importance of business cultures?Work culture is what distinguishes each company. It reflects the "personality" of an organization and can drive engagement, attract top talent, and influence organizational performance. Work culture is influenced by factors such as leadership style, workplace policies and practices, compensation and benefits, transparency and accountability, and work/life balance.
Not only does culture reflect those in positions of power, but it also drives employee engagement and satisfaction. When a company's culture values its employees, it is easier to retain and attract professionals. The culture of a company influences who it hires. For example, if a company needs a new creative director, it will almost certainly hire someone who can match its brand.
Read more about business cultures
brainly.com/question/27778728
#SPJ1
The Financial Accounting Standards Board's (FASB) objectives of financial reporting for not-for-profit organizations includes which of the following? A. Assessing management stewardship and performance.
B. Assessing budget to actual performance for the period.
C. All of the above are objectives.
D. Assessing fiscal accountability.
The Financial Accounting Standards Board's (FASB) objectives of financial reporting for not-for-profit organizations includes Assessing management stewardship and performance.
What are the financial reporting goals of the FASB?Financial reporting's goal is to give existing and future owners, lenders, and other debtors financial data about the reporting company that they can use to decide whether to give the entity resources.
Which accounting principles do nonprofits adhere to?The commonly accepted accounting principles, or GAAP, must be followed by both government and nonprofit organizations. The primary goal of GAAP is to guarantee accurate and timely reporting of financial data.
To know more about nonprofit organizations visit:
https://brainly.com/question/25230172
#SPJ4
An increase in the inventory account will be ______ net income to arrive at net cash flow provided by operating activities.
An increase in the inventory account will be subtracted from net income to arrive at the net cash flow provided by operating activities.
A firm's net earnings are referred to as its total net income. It is calculated by subtracting the total of the receipts less the sum of all the expenses. Net income is the financial method employed to compute stockholders' earnings per share. It will be ideally subtracted from an increase in the inventory account in order to compute the total net cash flow provided by operational operations.
The shift in inventory is viewed as a use of cash because the firm has purchased or created more commodities than it has yet to sell. The goal of the statement of cash flows is to show the sources and uses of cash during a given period, therefore any change in inventory is put back into the income to calculate the net cash flow provided by operational activities.
Read more about net income on:
https://brainly.com/question/15530787
#SPJ4
the cfo is not responsible for which of the following departments? check all that apply. A. human resources B. legal issues C. capital budgeting D. production E. research and development
The CFO (chief financial officer) is not responsible for the following departments: A. human resources, D. production, E. research and development.
The chief financial officer (CFO) is a company's highest financial officer. They are in charge of monitoring cash flow and financial planning, as well as analyzing the company's financial strengths and weaknesses and recommending strategic initiatives.
Almost all companies have an organizational structure in which the board of directors elects a chief executive officer (CEO).
The CFO is typically in charge of accounting, treasury, credit, legal, capital budgeting, investor relations, security analyst relations, and investment decisions.
The COO ( chief operating officer) is in charge of the company's operations, which include marketing, production, human resources, administration, and research & development.
Learn more about organization structure here:
https://brainly.com/question/30257570
#SPJ4
Assume that a manufacturing company incurred the following costs:
Direct labor $ 90,000 Advertising $ 40,000 Factory supervision $ 38,000 Sales commissions $ 15,000 Depreciation, office equipment $ 4,000 Indirect materials $ 5,000 Depreciation, factory building $ 29,000 Administrative office salaries $ 1,000 Utilities, factory equipment $ 2,500 Direct materials $ 105,000 Insurance, factory $ 7,000 Property taxes, factory $ 7,000 What is the total amount of product costs?
The total amount of product cost for the manufacturing company is $548,500.
Product cost includes all the related cost incurs to create a product. Product cost consists of direct materials, direct labors, and manufacturing overhead cost.
From the case, we can find the product cost elements, such as:
Direct materials = $105,000
Direct labors = $90,000
Manufacturing overhead costs:
Factory supervision = $38,000
Depreciation, office equipment = $4,000
Indirect materials = $5,000
Depreciation, factory building = $29,000
Utilities, factory equipment = $2,500
Insurance, factory = $7,000
Property taxes, factory = $7,000
Total manufacturing overhead = $353,500
Total product cost would be:
Total product cost = Direct materials + Direct labors + Manufacturing overhead
Total product cost = $105,000 + $90,000 + $353,500
Total product cost = $548,500
Learn more about Product Cost here: brainly.com/question/14949537
#SPJ4
A state statute requires each insurance company that offers burglary insurance policies in the state to charge a uniform rate for such insurance to all of its customers residing within the same county in that state. So long as it complies with this requirement, a company is free to charge whatever rate the market will bear for its burglary insurance policies. An insurance company located in the state files suit in federal district court against appropriate state officials to challenge this statute on constitutional grounds. The insurance company wishes to charge customers residing within the same county in the state rates for burglary insurance policies that will vary because they would be based on the specific nature of the customer's business, on its precise location, and on its past claims.
In this suit, the court should
In this suit, the court should hold the statute constitutional, because the statute is a reasonable exercise of the state's police power.
What is statute?A statute is a law that has been passed by a legislature, which is the body that has been given the authority by a constitution to pass legislation, or laws. A statute becomes law and a part of statutory law once it is passed.
The United States Congress is the country's federal assembly. Each state has a legislature that makes laws specific to that state. Statutes are signed into law by the head of the executive branch after they have been passed by the legislature; for federal statutes, this is the president; for state statutes, it is the governor. Codes are collections of statutes arranged thematically.
Learn more about statute
https://brainly.com/question/7582973
#SPJ4
Why do some people feel threatened by diversity?
Answer: because one can feel that another race can be higher than the other
Explanation:
people act like there everything when we are all the same people just different color so its hard for other people to understand that everything we do or say or wear is what everybody else does
inferior of cultural beliefs
