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Alpine Cupcake Inc
You are concerned about the adequacy of the substantive audit work done by the engagement team. You decide to carefully and in detail review the cash confirmation and bank reconciliation substantive audit program steps (C.3 and C.4) and the associated audit work papers (C.3.1 to C.4.8). This question relates to Step 4 of the Garcia and Foster Audit Plan. Identify any of the following issues:
a. Did they perform all of the steps associated with the audit program?
b. Did they perform the steps accurately? If not, describe the problem and follow up on it to the extent possible with the information given.
c. Do you see any other issues or problems with the auditors' work or client documentation?
Consider a macroeconomy was initially at equilibrium level. Using the Short Run aggregate demand and aggregate supply model graphically illustrate and discuss the short-run of the following events upon economic activity:
Write the subsequent demand equation, with Qd as the dependent variable; Price, Advertising, Product Development, and Rel Price as the independent variables - Classify the relationship between these products as complements or substitutes. The form..
Identify the key success factors and risks of the firm's strategy and the sustainability of profits generated by the strategy given the threat of competition.
the cost of producing 600 small fiberglass sailboats per year and the cost of producing sails and fittings necessary to
Discuss the pressures for local responsiveness and global standardization faced by each firm. Which experiences the greater pull toward local responsiveness? Why? Which faces a greater need for global standardization? Why?
What would be the present value of an item that has a salvage value of $25,000 at the end of four years?Assume a discount rate of 3.8% for an end-of-year factor?
Discuss a firm's objective relative to its economic cost. Describe each of the firm's economic cost, and whether these would be considered explicit or implicit. What is the difference between an economic profit and an accounting profit.
Difference between adverse selection and moral hazards? Use detailed examples to explain what the two concepts imply. In the context of your examples, discuss how the problems associated with moral hazards and adverse selection can be resolved.
Catching illegal parkers is expensive. Exactly how often do you have to catch illegal parkers, before they will buy the $63 parking permit instead? (Hint: Set EU legal = EU illegal and solve for p, the probability).
1. Los Angeles is committed to raising $1 billion for a new stadium. It is considering a $1 surtax on all cab rides because most cab rides are by non-residents. Use supply and demand to evaluate the wisdom of such a tax.
Identify some of the benefits and some of the costs to the host country from allowing a multinational corporation to locate in a country with a developing economy.
Using a supply and demand diagram, demonstrate how a positive externality leads to market inefficiency. how might the government help to eliminate this inefficiency.
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