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Snezhnost [94]
2 years ago
10

Dorothy (an audit manager) has been assigned to the audit of Tandem Electric, Inc. Dorothy is concerned that Joanne, a friend fr

om her college days, is on the internal audit staff of Tandem Electric. Dorothy believes she could provide services to this client in an objective manner. Which statement best describes how Dorothy should apply the AICPA conceptual framework approach in this situation?a. Dorothy should refuse to provide services to Tandem Electric because no safeguards would be effective in mitigating the threat(s) to her independence. b. Dorothy should not participate in the audit of Tandem Electric before obtaining a written waiver from her firm's general counsel. c. Dorothy should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level. d. Dorothy should document her assessment of independence, which should include a sworn statement from Joanne.
Business
1 answer:
Helga [31]2 years ago
7 0

Answer:

c. Dorothy should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level.

Explanation:

The best application of the AICPA conceptual framework approach in this scenario is that: Dorothy should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level.

<u>The threat of independence in the scenario is not high enough to warrant the resignation of Dorothy from the audit team because her friend is not the Finance Director or person in charge of primary preparation of the financial statements but just a member in the internal audit team, hence the risk to her independence is relatively moderate.</u>

Dorothy already believes that she will be objective, hence she should consider the threats to her independence and whether safeguards may be applied that reduce the threat(s) to an acceptable level.

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The GoT cups are a fast seller and you need to ensure that you have enough rolls of paper to fulfill demand. The first stage in
jarptica [38.1K]

Answer:

EOQ = 414 rolls

Explanation:

In order to calculate the number of orders to minimize the cost, we should calculate that by using the Economic order quantity model.

DATA

Holding cost = $1.75/unit

Annual demand = 500 rolls x 12 = 6000 rolls

Ordering cost = $25

Formula

EOQ =\sqrt{\frac{2Cod}{Ch} }

Where

Co = ordering cost

D = Annual demand

Ch = Holding cost

Solution

EOQ = \sqrt{\frac{2(6000)(25)}{1.75} }

EOQ = \sqrt{\frac{300000}{1.75} }

EOQ = 414 rolls

They should order 414 rolls to minimize the cost.

4 0
2 years ago
Read 2 more answers
The manager at the Overton Hotel in Lubbock believes that the success of the Texas Tech Red Raider Basketball team has an impact
deff fn [24]

Answer: 99.51%

Explanation:

This is a linear regression problem.

The relationship between the success of the team and the occupancy rate is in the form:

y = mx + c

y = occupancy rate

m = slope

x = number of games

c = slope

Intercept is supposed to be negative in question:

= 0.0474 * 31 + (-0.4743)

= 99.51%

<em>Options are most probably for a variant of this question.</em>

4 0
1 year ago
You inherit $300,000 from your parents and want to use the money to supplement your retirement. You receive the money on your 65
spayn [35]

The constant monthly withdrawal amount can be calculated by using PMT  function in excel as in =PMT(rate,nper,pv) where rate = 7% = 0.07/12 (Monthly rate), nper = 20 years = 20*12 = 240 months and pv = 300,000

Constant monthly withdrawal amount  =PMT(0.07/12,240,300000)

Constant monthly withdrawal amount = $2,325.90

Constant monthly withdrawal amount = $2,326 (Option C)

3 0
2 years ago
Anya, sales manager for Pacific Lumber, tells Ricardo, the firm's inventory manager, that the firm's failure to have adequate su
zaharov [31]

Answer:

The correct answer is B

Explanation:

Stockout or OOS stands for Out of Stock, which is event that causes the inventory to be exhausted. It occur with the entire supply chain.

In this case, Firm is facing failure for having adequate or enough supplies on hand, which result in the lost sales amounts to $175,000. It is representing the Stockout in the inventory management costs.

3 0
2 years ago
Natalie wants to make a 25% profit on her $70,000 land investment (there is no mortgage). She figures agents charge a 6% commiss
Ksju [112]

Natalie wants to make a 25% profit on a $70000 sale. That would be:

(125 ÷ 100) × 70000 = $87500.

Natalie wants to make $87500. But the agent would charge a 6% for the sale, Natalie will add a 6% to the $87500, that would be:

(106 ÷ 100) * 87500 = $92750.

On this $92750, there's a closing cost of $1200,

Add $92750 + $1200 = $93950.

$93950 to the nearest hundred will be $94000.

Natalie should make the final sale price $94000 in order to make a profit of %25.

7 0
2 years ago
Read 2 more answers
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