Business, 13.02.2020 02:19 Queenhagar
Which statement is false? a. Assessing control risk as high means the auditor does not have confidence that internal controls will prevent or detect material misstatements; assessing control risk as low has the opposite implication. b. If control risk is assessed as low, the auditor cannot plan on relying on the controls to increase substantive procedures for account balances. c. The auditor will not perform tests of controls; instead, the auditor must plan for substantive procedures, without relying on the client's internal controls. d. Based on obtaining an understanding through risk assessment procedures, the auditor assesses control risk ranging from high (weak controls) to low (strong controls).
Answers: 3
Business, 22.06.2019 05:00
What is free trade? a. trade that is not subject to taxes or fees b. trade that governments do not interfere with c. trade with a high level of government regulation d. trade between states in the u.s. b
Answers: 1
Business, 22.06.2019 15:00
Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.
Answers: 3
Business, 22.06.2019 18:30
You should typically prepare at least questions for the people who will host you during a job shadow. a. 3 b. 4 c. 5 d. 2
Answers: 1
Business, 22.06.2019 20:30
Casey communications recently issued new common stock and used the proceeds to pay off some of its short-term notes payable. this action had no effect on the company's total assets or operating income. which of the following effects would occur as a result of this action? a. the company's current ratio increased.b. the company's times interest earned ratio decreased.c. the company's basic earning power ratio increased.d. the company's equity multiplier increased.e. the company's debt ratio increased.
Answers: 3
Which statement is false? a. Assessing control risk as high means the auditor does not have confiden...
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