Answered: Completeness is an assertion used:…

Completeness is an assertion used: Select one: a. all of the responses are correct b. for transactions and events C. for presentation and disclosure d. when testing balance sheet items

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor

Section: Chapter Questions

Problem 30CYBK

See similar textbooks

Related questions

Q: Please solve this general accounting question

A: Step 1: Define Notes payableNotes payable are the sources of raising finance for the organization.…

Q: General Accounting

A: Step 1: Define AnnuityAn annuity is a financial agreement with a defined set of terms, such as a…

Q: 1) ABC Company sells two types of computer hard drives. The sales mix is 30% (Q-Drive) and 70%…

A: Required 1: Weighted average unit contribution margin = [(Q-drive Selling price per unit - Variable…

Q: WHAT IS SPACEX'S OPERATING CASH FLOW

A: Statement of Cash Flows (Indirect Method)Cash flows from operating activities: Net income…

Q: Check my work Hydro Sports budgets overhead cost of $621,000 for the year; of this amount, $405,000…

A: Calculating Total Direct Labor Hours (DLHs) for Each DepartmentStep 1: Compute Total Number of…

Q: Hello tutor solve this accounting issue

A: Step 1: Introduction to the Average Cost and the Variable CostThe average cost per unit of the total…

Q: Financial Accounting

A: Step 1: Define Cost-Volume-Profit (CVP) AnalysisThe CVP analysis for a firm is usually conducted by…

Q: Give answer please

A: Explanation of Debit: In accounting, a debit is an entry made on the left side of an account ledger.…

Q: General Accounting

A: Step 1: Introduction to the Average Operating AssetsAverage operating assets are the average of the…

Q: General Accounting

A: Step 1: Define Net IncomeThe net income is the excess of revenues over expenses during the period.…

Q: Please help solve

A: To determine the optimal production schedule and calculate the profit increase, we'll need to use…

Q: Can you please answer the accounting question?

A: Step 1: Define Contribution MarginFirms use contribution margin amount to calculate the operating…

Q: Give true answer

A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…

Q: Managerial Accounting

A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…

Q: What was the cost of goods sold for the year?

A: Step 1: Introduction to the Manufacturing CompaniesIn business and finance, manufacturing companies…

Q: Don't use AI.

A: Key references:…

Q: None

A: To determine how much of the first payment on a 60-month, $10,000 car loan with an APR of 2.89% goes…

Q: Hello tutor need answer the accounting question

A: a. If it pays on day 15, which is within the discount period, it can get the 2% discount.1,000 x 2%…

Q: R E Q U I R E D:Determine the amounts that would appear in the consolidated financial statements of…

A: 4:Pam's retained earnings as of December 31, 2019$2,670,000 (from Pam's trial balance)Sam's retained…

Q: Need answer the accounting question

A: Step 1: Introduction to the Balance SheetA balance sheet consists of sources of funds like the…

Q: General Accounting

A: Step 1: Define MarkupThe amount charged by the seller above the cost of the goods is known as…

Q: Sheridan Company reports pretax financial income of $73,500 for 2025. The following items cause…

A: Step 1:Calculation of income tax expenses=Book profit* tax rate=(Net profit before tax + fines)*30%…

Q: NKJ

A: Note: cost = cost per EUP * EUP WIP, end (materials) = 2.50*450 = 1,125WIP, end (conversion) =…

Q: UN.3 answer must be in table format

A: Step 1:Compute the maximum amount of dividend to be issued to the preferred stockholders as…

Q: Fundraising Opportunity You are in your second year in the BCom program at York University and came…

A: Balance Sheet as of August 31st:Assets:- Cash: $0- Cash advance from Paws Support: $4,300- Booth…

Q: What is the degree of operating leverage?

A: Step 1: Define Operating LeverageIn management accounting, the operating leverage refers to the…

Q: Financial Accounting

A: (1) Overhead Volume Variance: Formula: Overhead Volume Variance = Budgeted Fixed Overhead - Applied…

Q: Provide answer for this general accounting question

A: The formula for computing the asset turnover ratio is:Asset Turnover Ratio = Net Sales/Average Total…

Q: General Accounting

A: Step 1: Define InvestmentAn asset or object strongly acquired with the objective of increasing…

Q: None

A: The 25,000 represents the given unit sales by dividing the sales of $1,000,000 by the selling price…

Q: Hello tutor provide correct answer for general accounting question

A: 1. Understanding Key Terms:Beginning Inventory: The value of the inventory at the start of the…

Q: Need answer the question

A: Analysis of the question:The formula of ROE (Return On Equity) is:ROE = Net income/Owners' equity…

Q: Provide answer this question not use ai

A: Step 1: Define Job Order CostingIn cost accounting, job order costing is a costing system that is…

Q: General Accounting

A: Step 1: Formula for Capital Gains YieldStep 2: Identify Values from the ProblemStep 3: Substitute…

Q: Need answer

A: Hello student! When bonds are sold/issued at "98", this means that the cash received by the issuer…

Q: General Accounting

A: Step 1: Define ProfitNet profit is the amount the organization makes during a specific period after…

Q: Solve this problem

Q: Please need answer the accounting problem

A: Step 1: Introduction to the Overhead CostsOverhead costs are expenses a business incurs to operate…

Q: Hi expart Provide accounting question correct solution

A: Step 1: Define Cost allocationThe process of locating, gathering, and allocating expenses to certain…

Q: If you give me wrong answer I will give you unhelpful rate

A: Step 1: Define Material Price VarianceWhen the standard price per unit of raw material differs from…

Q: Hello tutor provide answer the accounting question

A: Step 1: Introduction to the Equated Monthly InstallmentsEquated monthly installments or EMI is a…

Q: Give me answer this general accounting question

A: Step 1: Define Trade CreditTrade credit is one of the issues managed by finance managers in managing…

Q: Need help with this accounting question

A: Explanation of Debt Outstanding: Debt outstanding refers to the total amount of money a company…

Q: Exercise 10-5 Ramirez Company installs a computerized manufacturing machine in its factory at the…

Q: What is the direct labor rate variance?

A: Step 1: Define Direct Labor VarianceThe direct labor variance of a firm can be categorized into…

Q: Please need answer the accounting question

A: To find the amount Taraz Aina must pay right now to completely satisfy her obligation under this…

Q: Solve this problem

A: Step 1: Introduction to the Shareholders' EquityOn a balance sheet, one can see the composition of…

Q: ! Required information [The following information applies to the questions displayed below.] Hemming…

A: Step 1:FIFO:-Fifo is the method of valuation of inventory in which inventory purchased first will be…

Q: General Accounting

A: Step 1: Define Contribution Margin RatioThe contribution margin ratio shows the contribution margin…

Q: S Kohler Corporation reports the following components of stockholders' equity at December 31 of the…

A: Approach to solving the question: For better clarity of the solution, I have attached the Excel…

Question

Don't use AI.

Completeness is an assertion used:
Select one:
a.
all of the responses are correct
b.
for transactions and events
C.
for presentation and disclosure
d.
when testing balance sheet items

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Identifying the condition of the data is part of which task? A. Performing a data audit B. Performing extract, transform and load (ETL) C. Performing data analysis D. Conducting a data assessment
Define and explain the following. Provide two references A: Audit data analytics B: Audit data analytics procedures.
Define and explain the following: A: Audit data analytics B: Audit data analytics procedures.
Reviewing database authority tables is a(n) a. access control. b. organizational structure control. c. data resource control. d. operating resource control.
1
Which one of the following qualities is most concerned with influencing users' decisions concerning the prediction of future events and the confirmation of past events? O A. Faithful representation OB. Understandability OC. Verifiability OD. Relevance (...)
Accounting information is O A. comparable O B. verifiable OC. relevant O D. understandable _when various, independent experts are able to reach a consensus that it provides a faithful portrayal. (...)
What goes in what, like what do I put on Collum a,b,c, etc I'm confused where to put the data
Draw out a trial balance using the above trasnsactions . Thank you .
In the context of databases, what does ACID stand for? A. Automatic, Consistent, Integrated, Durable B. Atomicity, Consistency, Isolation, Durability C. Array, Class, Interface, Data D. Add, Change, Insert, Delete
Providing timely information about transactions in sufficient detail to permit proper classification and financial reporting is an example of a. the control environment. b. risk assessment. c. information and communication. d. monitoring.
Please explain clearly