What type of a service would a CPA perform if a loan that is collateralized by inventory requires a CPA to observe the count of the inventory and trace sampled items to the vendor invoices in order to determine the value of inventory is not misstated

Answers

Answer 1

Answer:

An attestation engagement.

Explanation:

An attestation engagement involves hiring a third party called a CPA to give attestation on subject matters or services like examinations, reviews, reports that are created by a client. The attestation engagement is a form of audit. The CPA is responsible for the client. It is of 3 types

1. The examination engagement

2. Review engagement

3. Agreed upon procedures engagement


Related Questions

At his current level of output, a monopolist has an MR of $10, an MC of $6, and an economic profit of zero. If the market demand curve is downward sloping and his marginal cost curve upward sloping, the monopolist:_______

Answers

Answer:

The monopolist is in the long run.

Explanation:

The monopolist is in the long run because, in the long run, a monopolist earns or gets zero economic profit. In the short run, it earns supernormal profit that attracts the new firms into the market and this entry continues until the economic profit becomes zero and in the long run, its price is equal to the average total cost.  Moreover, the average total cost curve becomes tangent to the demand curve in the long run.

Explain the importance of international employment

Answers

Answer:

having international workers allow organisation to be connected two other country markets as well.they get to know the best places to get resources and how to approach different countries through being thought business norms and culture by international employees.

Answer:

Employment created through the investment of a country or the partnership of countries is known as international employment. International employment are important to provide employment opportunities to people , help in bringing the investment of foreign capital , increase the pace of economic activities , provide environment to operate with foreign people's knowledge , skill and technology , create variation in material production etc.

Bob operates Bob's Pizza, a small pizzeria that sells about 50 pizzas a day. Bob's daily total fixed costs are $100, and his daily total variable costs are $600. If for some reason Bob's fixed cost increased to $150, then his: Select one:

Answers

Available options are:

A. All of the choices are correct.

B. Average fixed costs would increase.

C. Marginal costs would increase.

D. Average variable costs would increase

Answer:

Option B. Average fixed costs would increase.

Explanation:

As the variable cost is the same which means that the marginal cost (All variable costs) would neither increase nor the average variable cost (Average variable cost due to fluctuating variable cost) would increase. Hence both Option C and D are incorrect.

Option B is correct because:

Average Fixed cost = (Initial Value + Value Now) / 2

Average Fixed cost = ($100 + $150) / 2 = $125

This means that the average cost has been increased.

You've been brought in as a security consultant for a small bicycle manufacturing firm. Immediately, you notice that they're using a centralized key-generating process, and you make a note to dissuade them from that without delay. What problem is created by using a centralized key-generating process?

Answers

Answer: Key transmission

Explanation:

Using a centralized key-generating process always leads to key transmission.

______ costs are administrative costs related to determining an order quantity, preparing purchase invoices, inspecting goods received for quality and quantity, and moving goods for temporary storage.

Answers

Answer: Ordering

Explanation:

Ordering cost tends to look at the cost required to order a particular item, from the initiation of the process till it's being inspected on it's arrival till it's moved to the store room. The first aspect is making enquires for the item, this us followed by bidding for the item, purchasing it, inspection and delivering to it's temporary location.

Which of the following is classified as investment? I. existing homes II. business spending on new equipment III. purchase of corporate stock IV. taking out a loan to build an office building

Answers

Answer:

The answer is II. business spending on new equipment

Explanation:

For a spending to be classified as investment, the money must ne spent or acquiring non-current asset(fixed asset or long-lived asset.

In the question above, only business spending on new equipment will be classified as investment because the business spent money to acquire non-current asset.

Purchase of current stock is a financing activitiy while taking out loan is also a financing activitiy.

Studies show financial advantages to diversity in senior management. But the promotion process tends to suppress expressed differences. To be seriously considered for promotion to a top-level management position in many U.S. companies, individuals must assimilate to the company’s culture. Companies can manage this through:__________

Answers

Answer:

employee training and diversity-oriented company policies

Explanation:

Diversity has been shown to have positive financial advantages because different views are considered and the best one to increase profit can be chosen.

However suppression of expressed differences has been a setback to diversity in the workplace.

To be seriously considered for promotion to a top-level management position in many U.S. companies, individuals must assimilate to the company’s culture.

This challenge can be managed when company policy is diversity-oriented. That is they value different views and don't use this as a criteria to restrict employee promotions.

Also proper employee training will align them to company culture.

In trying to understand the evacuation of the World Trade Center when it was first bombed in 1993, B. E. Aguirre, Dennis Wenger, and Gabriela Vigo argue that the more "the search for meaning in the milling process focuses upon defining the situation as serious, the quicker should be the mobilization of people and the initiation of collective behavior." What type of theory are they using to make this prediction?

Answers

Answer: Emergent norm theory

Explanation: The emergent norm theory could be explained as the energy, discipline and panache which surrounds a particular situation. When there is a situation at hand, the extent at which the issue or situation is managed hinges on the social interaction or atmosphere within the crowd or pool of participants. It defines the importance, seriousness and norm exhibited by members who make up the pool or crowd. The crowd behavior reverberates around individual members and as such influences their behavior by adopting or following the trend due to the nature of the circumstance at ahead which has given rise to a change in the individual attribute or character of the people.

ABC is a Medicare Advantage (MA) plan sponsor. It would like to use its enrollees’ information to market non-health related products such as life insurance and annuities. To do so it must obtain authorization from the enrollees. Which statement best describes the authorization process?

Answers

Answer is given below

Explanation:

The Medical insurance company provided all consent knowledge to the patient or beneficiary. It should be well defined so that it can dispel all the doubts of the beneficiary. Must have a valid registration page. The beneficiary should give all the information related to the company.  and the registration page should ask for all the information needed for a future claim. There should be a proper definition of coverage of illnesses and risks so that the beneficiary has no doubt.

Answer:

Authorization may be obtained by directing a beneficiary to a website to provide consent as long as the website includes a mechanism for an electronic signature that is valid under applicable law

Explanation:

Individuals are said to be collaborating when:_________.A) they have reciprocal faith in others' intentions and behaviors.B) they have a sense of togetherness and unity.C) they have ceased to be competitive with one another and prefer harmony.D) their motivation comes from a desire to please a supervisor or the seeking of a tangible reward.E) they are sharing information and coordinating efforts to achieve a collective outcome.

Answers

Answer:

Correct Answer:

E) they are sharing information and coordinating efforts to achieve a collective outcome.

Explanation:

In any given sector, there are limited opportunities available hence the need why there is competition in-order to maximize and gain more. This competition drives most individual to work alone. In a situation where there is no competition, the individuals works together through sharing of information and coordination in order to achieve a common result. This collective action is called Collaboration.

"a customer owns 1,000 shares of xyzz stock, purchased at $40 per share. the stock is now at $45, and the customer has become neutral on the stock, but believes that the stock still has good long term growth potential the client asks her representative for a "conservative recommendation" that will give her a positive portfolio return. the client should be told to:"

Answers

Answer:

Sell 10 XYZZ 45 call contracts

Explanation:

Since it is mentioned that the customer purchased for $40 and sale at $45 also he is neutral and thinks of a good investment. Therefore the stock should not be sold

Now if the customer sold the calls as opposed to the position of the stock than it would generate an additional premium income. This is we called conservative income strategy

Also if the stock increased, the expiration of put is done and the customer also owns the stock but if the stock decline, the short put is exercised i.e reflects that the customer should buy the stock

And in the recession market, the client lose doubles in a fast manner

Therefore the above is the answer

Incident action planning and strategic communication planning
A. should be contracted to incident action planning specialists during emergency responses.
B. are both managed by the planning section chief.
C. have no relationship.
D. are related because the first step to each is understanding the situation.

Answers

Answer:

D. are related because the first step to each is understanding the situation.

Explanation:

An incident action plan is a course of panning, which aims to resolve all identified phases of incident control within a time limit. it begins foundationally with an understanding of the the situation and objectives built to solve the problems that situation imposes.

Strategic communication planning is the alignment of an organization's core objectives with its communication function. The aim is to drive plans and tactics that would prompt the performance of an organization. It is however pertinent to understand the situation like identifying whom should be communicated to, determining the reasons for the communication etc , which is the first step.

Select all businesses directly involved in marketing.

Bank
Marketing research form
medical center
government agency
car dealership
advertising agency

Answers

Answer:

The correct options are;

Marketing research firm

Advertising agency

Explanation:

Marketing research firms are firms that undertake field data sourcing and assessment with regards to goods and services consumers, local and international competitors, market distribution networks as forces and participants as well as other factors that determine a market place. Market research firms usually work in behalf of other organisations

An advertising, creative, or ad agency are establishment that plan, handle and develop advertising, sales promotions and marketing campaign for their business customers.

Midpoint City operates its own municipal public drinking water system for which the Environmental Protection Agency has set maximum levels of pollutants. The city does not use any equipment to meet these standards. With regard to any contamination of the water, under the Safe Drinking Water Act, this is most likely

Answers

Question options:

a. a violation. b. not a violation because the city does not set the standards. c. not a violation because water is not a stationary source. d. not a violation because the city does not use any equipment.

Answer:

A. A violation

Explanation:

The safe drinking water act(SDWA)is a federal law that protects and guards the public against unsafe drinking water. It enforces this through the Environmental Protection Agency(EPA) who are responsible for setting standards on quality of water and monitoring states and water suppliers in meeting these standards set. The state by not making use of any machine in trying to keep to these standards are clearly in violation of EPA standards and consequently SDWA

Frank wants to add contact information for his references to his resume what should he obtained before including this contact information

A.Training certificates
B. Each person’s approval
C. Experience letter
D. Membership certificates.

Answers

Answer: B

Explanation: You should always contact someone before you list them as a reference to confirm that they are comfortable giving you a good recommendation if the potential employer contacts them, and also to confirm that you are listing the correct contact information on your resume.

John Montgomery Ward founded the first baseball players union to fight what practice(s) by baseball team owners? A. Salary caps B. Baseball's reserve system C. Baseball's practice of selling players without the players receiving a share of profits D. All of these are correct. E. Salary caps and baseball's reserve system

Answers

Answer:

D. All of these are correct

Explanation:

John ohn Montgomery Ward was a first sports player who is a professional and baseball league.

Here the practices that should be considered by basketball team owners are as follows

a. Salary caps

b. Profit sharing is not considered

c. Reserve system of basketball

Hence, the correct option is D

Thus, all the options are correct

A customer buying an unfamiliar product that carries a fair degree of risk would most likely engage in ________ decision making.

Answers

Answer:

extended problem solving

Explanation:

A situation where a buyer is buying a product he or she has never bought before hence requires considerable efforts, such is termed extended problem solving. The reason is that a buyer does not have prior experience about the product or the supplier, thereby creating complex buying decisions.

In extended problem solving, buyers evaluate and search for information about products they intend to buy due to the fact that they are not familiar with the products. Here, buyers search for all available information inorder to choose among brands of products they intend to buy; being the first time of purchasing such.

It should be engaged in the cognitive decision-making.

What is cognitive decision-making?

It is the decision-making that should be based on processes such as perception, memory, and attention. In the real-life situations, it needs a series of decisions should be made with each and every decision based on the last feedback form.

So at the time when the customer purchased the non-familiar product so it should be engaged in the cognitive decision-making.

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Excel Cost of common stock: Whitewall Tire Co. just paid a $1.60 dividend on its common shares. If Whitewall is expected to increase its annual dividend by 2 percent per year into the foreseeable future and the current price of Whitewall common shares is $11.66, what is the cost of common stock for Whitewall

Answers

Answer:

The cost of equity is 16%

Explanation:

The annual rate of return that an investor expects to earn when investing in shares of a company is known as the cost of common equity.

Price of stock = Next dividend / I-g

i = rate of return

g =  growth rate

Since Whitewall Tire co. just paid $1.60 dividend, the next dividend will be 1.60(1.02)

11.66 = 1.60(1.02) / (i - 0.02)

We solve for i

i = {1.60(1.02) / 11.66}+ 0.02

i = 0.16

i = 16%

Therefore, the cost of equity is 16%

Treasury stock that was purchased for $2,500 is sold for $3,000. As a result of these two transactions combined, a.income will be increased by $500. b.stockholders' equity will be increased by $3,000. c.stockholders' equity will be increased by $500. d.stockholders' equity will not change, because the amount of authorized stock has not changed.

Answers

Answer:

The stockholder's equity will be increased by $500

Explanation:

While stockholders equity is the amount of assets available to shareholders after all liabilities have been settled , treasury stock is the stock that is bought back by the issuing organisation with the aim of reducing the number of outstanding stock in the open market.

Looking at the scenario given , it was an indirect way of raising fund and increasing the equity of the stockholders equity as the treasury stock was later resold at a higher price.

Therefore , the stockholder's equity increases by 3,000- 2500 = 500

Considere que a empresa vale dos lirios Ltda, recebeu por meio de caixa, o valor registrado an conta de clientes referente a venda efetuada no mês de marco/2020- no valor de $3.400,00. Qual a alternativa que corresponde o método das partidas dobradas?

Answers

Responda:

Por favor, verifique a explicação

Explicação:

O método de dupla entrada simplesmente se refere a um princípio contábil em que cada transação realizada tem um registro duplo, ou seja, se uma operação de crédito é realizada, o débito correspondente é registrado, da mesma forma, quando ocorre um débito, o lançamento a crédito correspondente também é registrado ao lado.

No cenário acima, a entrada de débito do ativo adquirido pelo cliente à vista de R 3.400 enquanto a vale Lirios Ltda é creditada com o dinheiro recebido na venda de seu ativo.

Ativo Caixa R $ 3.400 - - - - Débito

vale Lirios Ltda (ativo) R $ 3.400 - - - crédito

Suppose consumption demand of GDP decreases during a recession while the other demands are unaffected. What happens to the equilibrium real interest rate in the economy?

Answers

Answer:

Since consumption represents almost 70% of the GDP, any change in consumption affects the economy more than any change in the rest of the components of the GDP (net exports, investment, government). If consumption decreases, then the real interest rate will decrease.

The higher the interest rate, the lower the consumption level. This should increase the savings = more investment in the economy, but since consumption is so important to the economy, a decrease in consumption will decrease the equilibrium interest rate. This lowering in the real interest rate will be carried out in order to try to increase consumption.

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment.

Answers

Answer:

tracked, as part of its ongoing environmental scanning activities, the percentage of households with single cup brewers

Explanation:

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks tracked, it was prepared for this shift in its marketing environment.

What is a partnership?

The partnership is referred to as the alliance formed between two or more two people with share capital as well as profit and loss of the business and achieve the common objective of the organization.

A shift in the marketing environment can lead to both profit and loss for an organization. Every organization needs to plan in advance to cope with the rising challenges and utilize them as opportunities for the business.

The change in the marketing environment is caused by political, social, economic, and cultural factors which affect the sales of any product.

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Ollie wants to sign up with an online social network called TeensMeet, which other kids at school have joined. The TeensMeet site asked Ollie for the following personal information: his full name, the name of his school, the city where he lives, his age, and his favorite music.

Answers

All of this would be known as his personal info which would be needed to sign up! I’m not sure what your question is?! Message me back so we can figure this out together!

What are people with out a college education most likely to do

Answers

Fail and not be able to get a good paycheck

On December 1, 20X1, Tigg Mortgage Co. gave Pod Corp. a $200,000, 12% loan. Pod received proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of $4,450, beginning January 1, 20X2. The repayments yield an effective interest rate of 12% at a present value of $200,000 and 13.4% at a present value of $194,000. What amount of accrued interest receivable should Tigg include in its December 31, 20X1, balance sheet

Answers

Answer:

$2,000

Explanation:

Accrued interests = loan principal x interest rate x time = $200,000 x 12% x 1/12 (1 month) = $2,000

The adjusting journal entry to record accrued interests should be:

December 31, 20x1, accrued interest receivable

Dr Interest receivable 2,000

    Cr Interest revenue 2,000

Interest receivable is an asset account with a normal debit balance.

Answer:

$2,000

Explanation:

Present value of loan = $200,000

Interest rate = 12%

Therefore, the accrued interest receivable can be calculated using the simple interest formula :

Where the present value of the loan is the principal amount,

Accrued interest = principal * rate * time

Since the period is between December 1st to 31 st December = 1 month = (1/12) years

Accrued interest = $200,000 * (1/12) * 12%

Accrued interest = $200,000 * 0.083333 * 0.12

Accrued interest = $2000

The fastener division of Southern Fasteners manufactures zippers and then sells them to customers for $8 per unit. Its variable cost is $3 per unit, and its fixed cost per unit is $1.50. Management would like the fastener division to transfer 12,000 of these zippers to another division within the company at a price of $3. The fastener division could avoid $0.20 per zipper of variable packaging costs by selling internally. Determine the minimum transfer price.

Answers

Answer and Explanation:

The computation of the minimum transfer price is shown below:

a. For Not operating at full capacity

Minimum transfer price = Variable cost + Opportunity cost

= $3 - $0.20 + 0

= $2.80

b. For operating at full capacity

Minimum transfer price = Variable cost + Opportunity cost

= $2.80 + $8 - $3

= $2.80 + $5

= $7.80

We simply applied the above formulas

So, that the each part could come

If you buy a burger and fries at your favorite fast food restaurant, Group of answer choices then neither GDP nor consumption will be affected because you would have eaten at home had you not bought the meal at the restaurant. then GDP will be higher, but consumption spending will be unchanged. then GDP will be unchanged, but consumption spending will be higher. then both GDP and consumption spending will be higher.

Answers

Answer:

d. then both GDP and consumption spending will be higher

Explanation:

In case when the consumer purchased a burger and the fries to the favorite of his fast-food restaurant than it leads to an increase in the spending of the consumer and the Gross domestic product

As if the consumer spends his money so automatically his consumer spending risen also leads to the increase in gross domestic product.

Therefore the last option is correct

An owner has a home across the street from a river bluff. She has a lovely view of the river, but, if the property is sold, she might lose the view because of new construction. What can the owner do to preserve her view?

Answers

Answer:

Have the window moved to an angle to see it more

Explanation:

Tara earns $8.50 an hour (after taxes) at the pizza place. She is scheduled to work four hours this afternoon. However, her friend Kayla called and asked her if she wants to go to the movie. A ticket to the movie costs $9.50. In addition, she always spends about $7 on snacks.

Which of the following statement are true? Select all that apply.

1. Tara's opportunity cost if she goes to work instead of the movie is $34.
2. Kayla's opportunity cost to go to the movie is $9.50.
3. There is no opportunity cost for Tara to go to the movie.
4. Tara's total cost of attending the movie is $50.5
5. Tara's opportunity cost if she goes to the movie instead of working is $34

Answers

The true statements about the given question are:

Option 2.option 4.Option 5.

Opportunity cost is the loss of possible gain from other choices of options of a decision when an option choice is made, in other words, it the something an individual gives up for a particular choice of item or decision.

In this case,

Kayla gives her time and cash that is $9.50 both of which can be used for something more important than the movie, therefore, the opportunity cost is $9.50.If Tara also went for a movie leaving the opportunity of earning $8.50 per hour for four hours that is 8.50×4 = $34, thus, her opportunity cost is $34 and the total cost would be $50.50

Thus, the correct answer is options 2, 4 and 5.

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From the options given, the true statements include:

Second option

Fourth option

Fifth option

Opportunity cost refers to the cost of an alternative that we forgo. With regards to the question, the second option is correct. If Kayla goes to the movie, then she'll have to forgo $9.50. Therefore, her opportunity cost of going to the movie is $9.50.

Furthermore, Tara's total cost when she attends the movie will be:

= ($8.50 × 4) + $9.50 + $7 = $50.5.

Therefore, the total cost of Tara attending the movie will be $50.5.

Finally, Tara's opportunity cost when she goes to the movie will be:

= $8.50 × 4

= $34

Therefore, her opportunity cost when she goes to the movie rather than working will be the amount that she could have earned while working which is $34

In conclusion, the correct options are options 2, 4 and 5.

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Cash Payback Period, Net Present Value Analysis, and Qualitative Considerations The plant manager of Shenzhen Electronics Company is considering the purchase of new automated assembly equipment. The new equipment will cost $1,400,000. The manager believes that the new investment will result in direct labor savings of $350,000 per year for 10 years. Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2.402 2.283 2.106 4 3.465 3.170 3.037 2.855 2.589 5 4.212 3.791 3.605 3.353 2.991 6 4.917 4.355 4.111 3.785 3.326 7 5.582 4.868 4.564 4.160 3.605 8 6.210 5.335 4.968 4.487 3.837 9 6.802 5.759 5.328 4.772 4.031 10 7.360 6.145 5.650 5.019 4.192 a. What is the payback period on this project? 4 years b. What is the net present value, assuming a 10% rate of return? Use the table provided above. Round to the nearest whole dollar. Net present value

Answers

Answer:

NPV = $750,598.49

Explanation:

Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows

Payback period =  amount invested / cash flow = $1,400,000 / $350,000 = 4 years

Net present value is the present value of after tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow in year 0 =  $-1,400,000.

Cash flow each year from year 1 to 10 =  $350,000.

I = 10%

NPV = $750,598.49

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

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