Drake's report on the Computer Services Company's (CSC) payroll processing system and its suitability of controls should contain the following elements Introduction, System description, Control activities, and Monitoring.
Introduction: A brief overview of the purpose of the report and the scope of the engagement, including the management's description of the system, the specific areas of focus, and the information provided by the management.
System description: A detailed description of CSC's payroll processing system, including its inputs, processing, and outputs, as well as the technology and infrastructure used to support the system.
Control activities: A description of the control activities in place to support the control objectives, such as access controls, segregation of duties, and transaction monitoring.
Monitoring: A description of the ongoing monitoring processes in place to assess the effectiveness of the control activities, including periodic self-assessments, internal audits, and external audits.
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Consumer complaints are frequently reported to the Better Business Bureau. Industries with the most complaints to the Better Business Bureau are often banks, cable and satellite television companies, collection agencies, cellular phone providers, and new car dealerships. The results for a sample of 200 complaints are in the file BBB.
a. Show the frequency and percent frequency of complaints by industry.
b. Which industry had the highest number of complaints?
c. Comment on the percentage frequency distribution for complaints
Consequently, the cell industry receives the most complaints.
Step-by-step explanation:
a. The frequency and percent frequency of complaints by industry is shown below:
Industry Frequency Percentage Frequency
Bank 26 13%
Cable 44 22%
Car 42 21%
Cell 60 30%
Collection 48 13%
b. Cell has the highest complaints (60).
c. The decreasing order of complaints goes thus: Cell (60%) , Cable (22%), Car(21%).
Both Collection and Bank, together account nearly up to 27% of the total complaints.
addressing (b): The sector with the most complaints
The highest frequency in the aforementioned table is 60, which corresponds to the number of complaints received by the cell industry.
How to solve (c): Comment
The percentage frequency table reveals that the banking industry (at 13%) receives the fewest complaints, while the cell industry (at 30%) receives the most.
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Which of these is NOT a function of a hypothesis?
Multiple Choice
Encourages the researcher to broaden the array of data needed.
Encourages researcher to think about facts/data needed to support or reject the hypothesis.
Encourages researcher to think about relationships between variables.
Suggests the research design.
"Encourages the researcher to broaden the array of data needed", is not a function of a hypothesis. Hence, the correct option is A.
An assumption is said to as a hypothesis when it is supported by evidence. Any investigation that turns the research questions into predictions must start here. Variables, the population, and the relationships between the variables are among its constituent parts.
A hypothesis used to examine the link between two or more variables is known as a research hypothesis. One of the roles of a hypothesis is that it makes observations and experiments possible and serves as the basis for further research. Additionally, it aids in correlating the observations and guiding the appropriate enquiries.
The correct answer is option A.
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use these financial statements to answer the following questions: balance sheet income statement what is the operating cash flow for this year?
The assets and liabilities of a corporation are shown on balance sheets at a certain period. Income statements display the total amount of money a company has made and spent over time.
Cash flow statements over time also depict the movement of funds within a company and outside of it. A financial statement called a cash assets statement provides comprehensive data on all cash inflows a business receives from ongoing operations and outside sources. It also covers any cash withdrawals made to pay for investments and business expenses during a certain time frame. The cash inflows and outflows for a corporation are shown on the cash flow statement, period by period.
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in 2002, congress passed what legislation seeking to prevent business scandals by increasing corporate responsibility through imposing additional corporate governance requirements on publicly held corporations?
Federal legislation known as the Sarbanes-Oxley Act of 2002 imposed stringent financial and auditing standards for publicly traded firms. To shield shareholders, employees, and the general public from accounting mistakes and dishonest financial activities, legislators enacted the legislation.
The law, also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and the "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House), is more commonly referred to as Sarbanes-Oxley, SOX, or Sarbox. It has eleven sections that impose guidelines on all boards of directors, management teams, and public accounting firms of U.S. public companies. The Act's provisions, such as the wilful destruction of evidence to obstruct a government investigation, also apply to privately held businesses. The rule was implemented in response to many significant business and accounting scandals, notably Enron and WorldCom.
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what types of decisions concern the allocation and utilization of resources?
Managerial decisions concern the allocation and utilization of resources
The goal of managerial decision-making is to enable the effective and efficient performance of corporate tasks while resolving identified challenges. Making a decision from among a greater number of possibilities is a cognitive process that is dependent on the information, knowledge, experience, and beliefs of the decision-makers. In order to accomplish organisational goals, managerial decisions entail the allocation and usage of resources like time, money, people, and materials.
Effective managers must balance the trade-offs between cost, quality, and time when making decisions that maximise the use of these resources. This calls for a thorough comprehension of the organization's assets and liabilities as well as any potential outside influences on its performance. These choices could be tactical like setting up work hours or strategic like putting money into new technology or expanding into new markets. The results of these choices could significantly affect the organization's performance and long-term viability.
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in developing standards, the fasb considers the: (select all that apply.)
In developing standards, the fasb considers the Needs of investors, Needs of creditors, Feedback from public stakeholders, Needs of preparers Feedback from regulators.
The FASB considers a variety of factors when developing financial reporting standards. This includes the needs of investors, creditors, preparers, and feedback from public stakeholders and regulators.
The needs of investors are an important factor in the development of standards. Investors rely on financial statements to make informed decisions regarding their investments. The FASB seeks to create standards that provide investors with the necessary information to make informed decisions.
The needs of creditors are also a factor. Creditors need to be able to assess the financial stability of a company before they are willing to lend money. The FASB works to create standards that provide creditors with the necessary information to make sound lending decisions.
The feedback from public stakeholders and regulators is also taken into account. The FASB seeks to create standards that are acceptable to all stakeholders and regulators. This includes taking into account concerns from public stakeholders and feedback from regulators.
Finally, the FASB considers the needs of preparers. The standards created by the FASB must be practical and achievable for preparers. This includes taking into account the resources available to preparers and the complexity of the standards.
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how long after your state taxes are accepted to get refund
The length of time it takes to receive a tax refund after submitting your state taxes can vary depending on several factors, including the state you live in, the method you used to file your taxes, and whether you have any outstanding issues with your tax return.
Typically, if you file electronically and have your refund directly deposited into your bank account, you can expect to receive your refund in about 2 to 3 weeks. If you file a paper return, it may take several weeks longer.
If there are any issues with your tax return, such as a mistake or a missing form, the process may take longer, and the state tax agency may contact you for additional information or clarification.
It's a good idea to check with your state tax agency for more information about their specific process for issuing refunds.
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Product-oriented vision statements provide managers with. A) Strategic flexibility. B) Customer solutions. C) Service goals. D) Employee goals.
Product-oriented vision statements provide managers with service goals. The correct answer is option C.
Your product's overarching long-term objective is outlined in your product vision, often known as your product vision statement. Aspirational and succinct, vision statements explain where the product aims to go and what it hopes to accomplish in the long run. Product-focused vision statements characterize a company in terms of the product or service it offers.
Improved customer service metrics, quicker response times, making it simple for customers to contact you, and developing a customer-centric culture are a few examples of customer service goals.
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measurement of productivity in service is more straightforward than in manufacturing since it is not necessary to take into account the cost of materials.
This statement is True, measurement of productivity in service industries is often more straightforward than in manufacturing, as there are no physical goods produced and therefore no costs associated with raw materials.
Manufacturing is the process of turning raw materials into finished goods through a series of steps. This process involves designing, planning, sourcing materials, producing, testing, and distributing products. The manufacturing process often takes place in a factory setting and may involve a variety of processes such as assembly, molding, cutting, welding, and stamping.
The end goal of manufacturing is to create products that are functional, safe, and of high quality. The success of a manufacturing process depends on many factors including the quality of the raw materials, the efficiency of the equipment, and the skill of the workers.
Manufacturing has a significant impact on the economy as it creates jobs, drives innovation, and contributes to the growth of a country's gross domestic product (GDP). The industry is constantly evolving with the use of new technologies such as robotics, automation, and 3D printing, which are helping to make the manufacturing process faster, more efficient, and more cost-effective.
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Complete Question:
Measurement of productivity in service is more straightforward than in manufacturing since it is not necessary to take into account the cost of materials.
A). True
B). False
fill in the blank..in 2000, microsoft ® founder william h. gates iii was listed by forbes ® magazine as being worth ____billion.
in 2000, microsoft ® founder william h. gates iii was listed by forbes ® magazine as being worth 60 billion.
American business magnate, author, investor, and philanthropist William Henry Gates III was born on October 28, 1955. He co-founded Microsoft with his late childhood friend Paul Allen. During his time at Microsoft, Gates held the positions of chairman, CEO, president, and chief software architect. Until May 2014, he was also the biggest individual stakeholder in the business. As an entrepreneur, he made a substantial contribution to the microcomputer revolution of the 1970s and 1980s.
Gates was born and raised in Seattle. In 1975, he and Allen founded Microsoft in Albuquerque, New Mexico. It progressed to become the largest provider of personal computer software globally. When Gates resigned as CEO of the company in January 2000, Steve Ballmer took over.
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a new hardware company is writing its mission statement. which of the following is the best mission statement possible for the new company?
We will work with clients to construct, revitalize, repair, update, or entirely redesign their homes or businesses.
Singular, plural, and noncount nouns can all be used with the word "business." Businesses is the plural of business as a count noun with a -es ending. The easiest type of business structure is a sole proprietorship. The plural version of the word business, which is used to refer to a "company," is simply referred to as businesses. Incorporating a business into a statement is as follows: Over time, Amazon has bought a lot of companies. Any particular company would have appropriate nouns in its names. Since a proper word must identify a particular business, there isn't one that would work for all businesses. A typical noun is "business."
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A new hardware company is writing its mission statement. Which is the BEST mission statement for the new company?
The project charter serves as a formal legal contract between the project team and the project sponsor.
T or F
False, A formal legal agreement between the project team and the project sponsor is not created by the project charter.
What commitments are made in the project charter?A crucial document known as the project charter describes the fundamental conditions that must be met for the project to live up to stakeholders' expectations. Formally, a project charter is an agreement between a business that has committed to provide a good or service and a client who has requested and received the item or service.
A contract is there one in the project charter?Specified in a project charter is an agreement between the project manager, sponsor, and significant stakeholders. Goals, deliverables, and scope of the project are all specified in it. The charter also details the duties and functions of each team member.
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What is a key factor contributing to the feeling that some people have been left behind by globalization?
a. Increased protectionism b. high tariff barriers c. advances in technology d. China’s highly skilled workforce
Increased protectionism is a key factor contributing to the feeling that some people have been left behind by globalization. The term "globalisation" is used to describe how trade and technology have increased connectivity and interdependence around the world.
The resulting economic and societal developments are also included in the scope of globalisation. Globalization is the acceleration of international exchanges and movements (of people, things, and services, money, technologies, or cultural norms). One of the effects of globalisation is to promote and protectionism relationships between different communities and places around the world. Additionally, it makes it easier for businesses to expand internationally, diversify across cultures, and pay less in tariffs and taxes while conducting business abroad. further reading.
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how did huey long help louisiana residents during the great depression?
Huey Long, a senator, used a strategy he called "Share the Wealth" to combat the Great Depression in Louisiana.
Huey Long changed Louisiana's economic reality from one that was stacked against its rural impoverished residents to one that provided opportunity and resources for advancement. By 1936, Long's initiatives and liberal policies had allowed the typical Louisiana family to save more than $425 annually on living expenditures, which is equal to $5,100 today. People at every level of the economic ladder received the opportunity to advance, particularly the impoverished, thanks to free education and increased mobility. Everyone in Louisiana had a high cost of living prior to Huey Long's presidency, but the poor majority of the state in particular.
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which market will have the most competing dentists with comparable prices?
A market with a high density of population will have the most competing dentists with comparable prices.
The factors such as population size, consumer demand for dental services, and the presence of other dental providers in an area can affect the level of competition and prices in a given market.
Considering these factors, the densely populated urban areas with high disposable income are likely to see the presence of many dentists offering services at a comparative price. On the other hand, smaller areas with less population will not require the services of as many dentists.
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which means the provider agrees to accept what the insurance company allows or approves as payment in full for the claim?
Assignment denotes your physician's, supplier's, or other healthcare professional's consent to accept the Medicare-approved sum as full payment for the covered services.
What does a corporation of insurance do?They pay for the costs the policyholder incurs due to losses to their health or property (usually offered plans include medical expenditures, house, car, and fire insurance), as well as monetary losses like lost wages. Reinsurance is a unique type of non-life insurance.
What is an illustration of an insurance company?Policies from various insurers are sold by independent agents and brokers. State Farm, GEICO, Progressive, Liberty Mutual, Allstate, Farmers, and Nationwide are recognizable brands among direct dealers of home and vehicle insurance.
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now, suppose the government is experiencing a budget deficit. this means thatnational saving will decrease , which leads toa decrease in the supply of loanable funds.
As a result, the interest rate will increase, making borrowing more expensive for households and businesses. This decrease in borrowing will reduce investment spending, which will result in a decrease in aggregate demand and economic growth.
This can potentially impact investment and economic growth, as higher borrowing costs can discourage businesses from expanding and investing in new projects. However, government borrowing to finance the deficit can also increase demand for loanable funds, potentially offsetting the decrease in supply. The ultimate effect depends on the balance between these two opposing forces.
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T/F : the maximum outstanding balance allowed to a customer by a vendor.
The most money you can borrow or charge on a credit card or line of credit is known as your credit limit. It's not always a good idea to push yourself to your limit even if you are aware of it.
The maximum amount you can charge to a credit card is known as the credit card limit. A $5,000 credit card limit, for instance, indicates that you are permitted to use the card to carry a $5,000 balance. A credit limit is the highest amount of credit that a bank or other lender will grant a borrower for a specific line of credit.
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Supporters of NAFTA and free trade would contend that such agreements:
increase government control of a nation's economy
limit the growth an economy and prevents inflation
hamper democratic reforms and open markets in areas that are already strong
ultimately produce lower prices and greater variety of products
Supporters of NAFTA and free trade would argue that such agreements ultimately produce lower prices and greater product variety. Option D is correct.
What are economic blocs?They correspond to commercial agreements between different nations to obtain economic benefits, such as price and interest reductions, greater availability of products, etc. Some examples are:
NAFTAEuropean UnionMercosurTherefore, free trade supporters would argue that the advantages of economic blocs are the common benefits for members, ensuring greater economic liberalism and development for both.
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What is the balance of the manufacturing overhead account and is overhead underapplied or overapplied at the end of the year?A)Credit of $30,000,overapplied B)Credit of $30,000, underapplied. C)Debit of $30,000, overapplied. D)Debit of $30,000, underapplied.
D)Debit of $30,000, underapplied.is the balance of the manufacturing overhead account
Manufacturing overhead (MOH) is a type of indirect cost that is incurred in the production process but cannot be traced directly to any specific product. It includes expenses such as rent, utilities, property taxes, insurance, and depreciation of production equipment.
At the end of the accounting period, the manufacturing overhead account balance is calculated to determine if there is an over- or under-applied amount.
The calculation is based on the actual MOH costs incurred during the period and the amount that was allocated or assigned to products based on a predetermined overhead rate.
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which of the following is a complex sentence? question 13 options: visit our website to learn more about our newest product line. the conference will be held on monday, but few managers will be able to attend. employers are now using social media sites to screen applicants; therefore, job seekers are advised to clean up their digital presence. because of rising insurance premiums, many companies are offering employee-wellness incentives.
Complex sentence- As a result of rising insurance costs, it is advised that job seekers clean up their online reputation.
Complex sentences fall into one of the four categories of sentences based on structure (simple, complex, compound, and compound-complex). They are unique to complex and complex-compound sentences and are only present in these types of sentences.
A complex sentence consists of one independent clause and at least one dependent clause. It works best when you need to change or amplify the main idea of your claim. Complex sentences are easy to recognize because they frequently use subordinating conjunctions to link clauses, such as because, since, or until.
Dependent clauses, also known as subordinate clauses, are those that cannot be used on their own to complete a sentence. In the absence of an independent clause, a dependent clause is essentially a sentence fragment.
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Which two of the following financial measures are among the three factors used to determine a company's credit rating?
a. The percentage of net profit used to make payments on the company's total debt outstanding in the prior year, the company's inventory turnover ratio, and the amount of cash the company keeps in its retained earnings account
b. Its debt-to-equity ratio and its interest payments as a percentage of total assets
c. A company's current ratio and interest payments as a percentage of the company's net profits
d. Its current ratio and its interest coverage ratio
e. The amount by which current assets exceed total interest payments and the amount by which the company's year-ending cash balance exceeds upcoming-year interest payments due and payable
The financial measures, which are used to determine a company's credit rating is: its current ratio and its interest coverage ratio. The Option D is correct.
What is the usefulness of a company's credit rating?A corporate credit rating is a numerical assessment of a company's creditworthiness that quantifies the likelihood of debt default. Rating agencies issue corporate credit ratings, which assist investors in determining the riskiness of investing in a corporate bond.
A credit rating agency or company assists investors in determining how risky it is to invest in a specific country, security, or bond by providing independent, objective assessments of a company's and country's creditworthiness.
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Which of the following processes can be used to calculate future value for multiple cash flows?
Multiple select question.
Discount all of the cash flows back to Year 0
Calculate the future value of each cash flow first and then add them up
Compound the accumulated balance forward one year at a time
Find the future value of a single lump sum amount
The answer to the above question Which of the following processes can be used to calculate future value for multiple cash flows? is Compound the accumulated balance forward one year at a time
Future value, multiple streams
To find the FV of multiple cash flows, sum the FV of each cash flow.
Finding the future value (FV) of multiple cash flows means that there are multiple payments/investments and the firm wants to find his total FV at a given point in time.
The future value of an annuity is simply the sum of the future values of each payment. The formula for the future value of an annuity is the sum of a geometric progression.
FVAD = A(1 + r)1 + A(1 + r)2 + ... + A(1 + r)n.
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what actions would you have taken if you were an arthur andersen audit partner in the enron audit engagement?
I would have challenged the decisions made by Enron management that were not in line with generally accepted accounting principles (GAAP).
I would have ensured that proper disclosure was made regarding Enron's off-balance-sheet activities and that all information was accurate, relevant, and up-to-date. I would have also implemented additional checks and controls to make sure no conflicts of interest or fraudulent activity were taking place.
If I had been an Arthur Andersen audit partner, I would have been extremely thorough in my review of the Enron audit engagement. I would have made sure that all accounting policies had been compliant with applicable laws and regulations and that all books and records were kept accurately and in accordance with GAAP.
I would have also ensured that all financial statements presented were a fair and accurate representation of the company's underlying financial position.
Additionally, I would have taken the time to review all accounting changes proposed by Enron, as well as all related transactions and activities, to make sure that no unethical practices were taking place.
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what is the principal reason why point-of-sale credit card fraud has declined rapidly? question 19 options: less people use credit cards than in the past. credit cards now have embedded chips in them. states increased prison terms for those convicted of identity theft. more people are going online to purchase major items. police are apprehending more identity thieves.
The basic principal of why point of sale credit card fraud has decline rapidly is Credit cards now have embedded chips in them. So the correct option is B.
In economic and business, A credit card generally can be defined as a type of credit facility, provided by banks that allow customers to borrow funds within a pre-approved credit limit. Credit card give a big impact through the transaction, it is enables customers to make purchase transactions on goods and services. In the other side, credit card also give a benefit through the customer to borrow money from the card issuer up to a certain limit to purchase items or withdraw cash.
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which sequence of events best describes the role of textile manufacturing in initiating
The following incident best exemplifies the significance that textile industry had in sparking industrialization.
Cotton demand increased, cottage industry emerged, cottage industry was overtaken by machines, and early shed factories emerged.
The economic and social developments known as industrialization led the human race toward an industrial society. The recording of the economy for production was a component of it. The establishment of new industries led to an increase in employment, greater personal income, a new market for finished goods, and sped up economic development. The world's inception of industrialization is attributed to Britain. It was a daring move forward, but Britain showed the world who they were.
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Which designation includes personally identifiable information?
Information that can be used to identify a person, such as their full name (if it's uncommon), face, home address, email, ID number, passport number, license plate number, fingerprints or handwriting, credit card number, etc., is referred to as personally identifiable information, or PII.
Any information that connects to a specific individual is considered personal information, also known as personal data. Examples of personal information that are readily apparent include a person's name, mailing address, email address, phone number, and medical records (if they can be used to identify the person).
The categories of personal information that are typically covered are listed below: confidential information. sensitive facts about an individual. information on health.
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Which situation describes a company experiencing an accounting loss? Click or tap a choice to answer the question Total revenue is more than total cost. The total cost includes only the implicit costs The explicit costs are higher than the Implicit costs. The explicit costs are higher than total revenue.
The situation which describes a company experiencing an accounting loss is when the explicit costs are higher than total revenue.
If the total cost exceeds the total revenue, the business is in the red. Explicit cost is the total sum of cash spent to bring an item to market, whereas total revenue is the amount of money made by a business from the sale of its products or services.
The whole amount of money a vendor can make by providing goods or services to customers is known as total revenue. The formula for this is P Q, or the purchase price times the number of items sold. According to demand and price, it measures how successfully a company is generating revenue from its main operations.
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Primary markets are markets in which users of funds raise cash by selling securities to funds suppliers.a. Trueb. False
Primary markets are markets in which users of funds raise cash by selling securities to funds suppliers - True
The primary market is the market where new securities, such as shares, stocks, etc., are sold for the first time to the general public, often known as an initial public offering (IPO). The major market is demonstrated by the initial public offering. These securities are bought by investors directly from the issuer, who also receives all sales revenue.
On the other hand, secondary markets are places where securities that have already been issued be purchased and sold by investors rather than being issued for the first time. They, therefore, make it possible for businesses and governments to draw in investors and raise funds for debt repayment or expansion.
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who pays
income taxes
Answer:Middle-Income Taxpayers
Explanation:
it is right
Answer:
us citizens
Explanation: