The auditors are most likely to seek information from the plant manager with respect to the:...
The auditors are most likely to seek information from the plant manager with respect to the:
a) adequacy of the provision for uncollectible accounts.
b) Appropriateness of physical inventory observation procedures
c) Existence of obsolete machinery
d) Deferral of procurement of certain necessary insurance coverage
Homework Answers
| The auditors are most likely to seek information from the plant manager with respect to the Existence of obsolete machinery. |
| A plant manager is responsible for the physical custody of fixed assets in factory and can be contacted for information regarding these assets. |
| Information regarding existence of any obsolete or unused machinery in the factory can be obtained from the plant manager. |
| Option C is correct |
Add Answer to:
The auditors are most likely to seek information from the plant
manager with respect to the:...
The auditors are most likely to seek information from the plant manager with respect to the:...
The auditors are most likely to seek information from the plant manager with respect to the: Multiple Choice Adequacy of the provision for uncollectible accounts. Appropriateness of physical inventory observation procedures. Existence of obsolete machinery. Deferral of procurement of certain necessary insurance coverage.
auditing 7. An auditor has accounted for a sequeno information on a representative number assertion does...
auditing
7. An auditor has accounted for a sequeno information on a representative number assertion does this procedure relate to most directly A) Completeness. B) Existence. C) Legality. D) Valuation. a sequence of inventory tags and is now going to trace e number of tags to the inventory summary sheets. Which o. Which of the following is not a procedure that typically is used by the auditors in tica 8. Which of the follow examination of a client's goods held...
auditing Part Two: Multiple Choice Questions: (2.5 marks/ question) 1. To test the existence assertion for...
auditing
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Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee
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How can we assess whether a project is a success or a failure? This case presents...
How can we assess whether a project is a success or a
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This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...
Refer to the following financial statements and answer the following questions hints:- 13. cash provided (used)...
Refer to the following financial statements
and answer the following questions
hints:-
13. cash provided (used) by operating activities, investing
activities, and financing activities. 14. cash-based net income.
15. estimate of uncollectible accounts receivable. 16. calculate
and interpret accounts receivable ratio (most recent and prior
period).
hints:-
2:12 PM Wed Apr 15 39%). A 51.04cdn.com PART II NIKE, Inc. Consolidated Statements of Income in mWors, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead...
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Caterpillar Inc. 2017 2016 5 S 51,822 2,900 54,722 42,676 2,786 45,462 35,773 2,764 38,537 STATEMENT...
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Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
auditing
7. An auditor has accounted for a sequeno information on a representative number assertion does this procedure relate to most directly A) Completeness. B) Existence. C) Legality. D) Valuation. a sequence of inventory tags and is now going to trace e number of tags to the inventory summary sheets. Which o. Which of the following is not a procedure that typically is used by the auditors in tica 8. Which of the follow examination of a client's goods held...
auditing
Part Two: Multiple Choice Questions: (2.5 marks/ question) 1. To test the existence assertion for recorded receivables, an auditor would select a sample from the A) Sales orders file. B) Customer purchase orders C) Accounts receivable subsidiary ledger D) Shipping documents (bill of lading) file. 2. When control risk for the existence assertion is assessed at a high level, which of the Gallerine is a likely effect with respect to the auditors' confirmation of receivables? A) The account balances...
LO 10-6, 10 10-36 Based on an assessment of audit risk, the auditors are concerned with the following two risks: 1. The risk that that the client might be making duplicate payments to vendors. 2. The risk that the client's accounting clerk might be making unauthorized payments to himself. a. Assuming that the client has a manual accounting system, describe how the auditors can design a test to identify the duplicate payments and unauthorized payments. b. Assuming that the client...
How can we assess whether a project is a success or a
failure?
This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...
Refer to the following financial statements
and answer the following questions
hints:-
13. cash provided (used) by operating activities, investing
activities, and financing activities. 14. cash-based net income.
15. estimate of uncollectible accounts receivable. 16. calculate
and interpret accounts receivable ratio (most recent and prior
period).
hints:-
2:12 PM Wed Apr 15 39%). A 51.04cdn.com PART II NIKE, Inc. Consolidated Statements of Income in mWors, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead...
Caterpillar Inc. 2017 2016 5 S 51,822 2,900 54,722 42,676 2,786 45,462 35,773 2,764 38,537 STATEMENT 1 Consolidated Results of Operations for the Years Ended December 31 Dollar is willions cat pershare dal Sales and revenues Sales of Machinery, Energy & Transportation Revenues of Financial Products Total sales and revenues Operating costs Cost of goods sold Selling, general and administrative expenses Research and development expenses Interest expense of Financial Products Goodwill impairment charge Other operating incomel expenses Total operating costs...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
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