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astraxan [27]
2 years ago
6

Usually, the decision to notify parties outside the client’s organization regarding noncompliance with laws and regulations is t

he responsibility of the
Business
1 answer:
Daniel [21]2 years ago
6 0

Answer:

Management

Explanation:

Sometimes in the course of discharging his duties, an auditor might discover a case of non-compliance with laws and regulations. In such situations, he is expected to report the issue to the governing body or management of the organization who in turn notify parties outside the client's organization. This might imply reporting to the appropriate law enforcement agencies who now investigate the matter.

The auditor should ensure that he is keeping to the code of confidentiality before proceeding on such a case. The management is expected to review the report to determine if the action was indeed non-compliant with the laws before proceeding on the next call of action.

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Star software systems and henry orally agree for henry to write special accounting software. this software usually takes three y
ELEN [110]

There are 6 requirements for a verbal contract:

An offer. -- they had this

An acceptance. -- the contract was accepted

Competent parties who have the legal capacity to contract. - they both have the right to make this decision

Lawful subject matter. this is not an illegal operation

Mutuality of obligation. Both parties are obligated to do something in this case.

Consideration. if there were discussions of payment, then yes this is a legally enforceable contract.

4 0
2 years ago
The balance sheets of Davidson Corporation reported net fixed assets of $320,000 at the end of 2021. The fixed-asset turnover ra
Dmitriy789 [7]

Answer:

Net fixed assets at end of 2020 = $420,000

Explanation:

Fixed assets refer to long term assets which have useful economic life that is greater one year and they are primarily purchased not to be resold but to be used in the business activities of the company.

The net fixed asset is the purchase price of the fixed assets minus accumulated depreciation.

The asset turnover ratio refers to a ratio that is employed to assess the efficiency of the fixed assets of the company in generating sales revenue.

To compute the net fixed assets at the end of 2020 of Davidson Corporation, we use the formula for calculating the fixed-asset turnover ratio as follows:

Fixed-asset turnover ratio in 2021 = Sales in 2021 / Average net fixed asset ………… (1)

Where;

Fixed-asset turnover ratio = 4.0

Sales in 2021 = $1,480,000

Average net fixed asset = ?

Substituting the values into equation (1) and solve for Average net fixed asset, we have:

4.0 = $1,480,000 / Average net fixed asset

Average net fixed asset = $1,480,000 / 4

Average net fixed asset = $370,000

Since;

Average net fixed asset = (Net fixed assets at end of 2021 + Net fixed assets at end of 2020) / 2 ….................... (2)

Substituting the values into equation (2) and solve Net fixed assets at end of 2020, we have:

$370,000 = ($320,000 + Net fixed assets at end of 2020) / 2

$370,000 * 2 = $320,000 + Net fixed assets at end of 2020

$740,000 = $320,000 + Net fixed assets at end of 2020

$740,000 - $320,000 = Net fixed assets at end of 2020

Net fixed assets at end of 2020 = $420,000

8 0
2 years ago
A 5.5%, 5-year bond with semi-annual coupon payments and a face value of $1,000 has a market price of $1,032.19. Assume that the
Yuri [45]
$1,032.19. Assume that the next coupon payment is exactly six months away. a) What is the yield-to- maturity of the bond? b) What is the effective annual rate
6 0
2 years ago
Arabica Manufacturing Company uses a predetermined manufacturing overhead rate based on a percentage of direct labor cost. At th
Natalija [7]

Answer:

B) $56,750

Explanation:

Direct materials cost $27,500

Direct labor cost$13,000

As manufacturing overhead rate is  based on a percentage of direct labor cost so dividing the manufacturing overheads by direct labor costs we get =$1,050,000,/$840,000= 1.25

Multiplying this rate with the actual overheads we get 1.25* 13000 = $16250

The total job cost would be = Direct materials cost+Direct labor cost + budgeted Overheads =  $27,500 +$13,000+$16250= $56,750

8 0
2 years ago
If bagels and doughnuts are substitute goods, then which scenario is likely to occur if the price of bagels is reduced?
katen-ka-za [31]

Answer: If the price of bagels is reduced "a.The demand curve for doughnuts will shift to the left."

Explanation: Being substitute goods The decrease in the price of bagels causes consumers to prefer to consume bagets before donating, therefore the demand for donuts will shift to the left (decrease).

7 0
2 years ago
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