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Q. 1 Define auditing, what is the difference between audit and auditing? Explain the important techniques of auditing.
Q. 2 Explain the various classification of audit, list the type of information necessary for conducting an audit.
Q. 3 Define internal control, what are the objectives of internal control? What is the difference between internal control and internal check?
Q. 4 Explain the methods that auditor use to review the internal control procedures of the client.
Q. 5 Define vouching. Explain the main techniques of vouching.
The town of Seaside has decided to construct a new sea aquarium to attract tourist. The cost of the measure is to be paid by a special tax. Although most of the townspeople believe the sea aquarium is a good idea, there is disagreement about how t..
Linear Programming Case Study
On March 5th, Blowout Sales makes $22,500.00 in sales on the company's own credit cards. The cost of merchandise sold are $16,825.00. Journalize the sales and recognition of the cost of merchandise sold.
During 2010, Hopkins purchased $760,000 of raw materials, incurred direct labor costs of $100,000, and incurred manufacturing overhead totaling $128,000. How much is total manufacturing costs incurred during 2010 for Hopkins?
Maggie is single and supports her 85-year-old parents who live in a home rented for them by Maggie and who have no income. What is Maggie's filing status and why?
Father and son are co-owners of a manufacturing company, with father having transferred some of his stock to his son in previous years. There is no debt in excess of stock basis.
On August 1, 2007, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each February 1 and August 1.
Choose a public company in the food industry. Analyze the financial statements and assess whether the financial performance has improved or declined year-over-year. A presentation of 5-10 powerpoint slides that include the following:
During the first week in January of the current calendar year, major structural repairs are completed on the building at a $75,585 cost. The repairs extend its useful life for 7 years beyond the 20 years originally estimated. Determine the book va..
Ted is the sole shareholder of a C corporation, and Sue owns a sole proprietorship. Both businessed were started in 2010, and each business sustained a $5,000 net capital loss for the year. Which of the following statements is correct?
Define planning, organizing, and controlling and then explain why the phases of planning, organizing, and controlling are referred to as a continuous cycle?
Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2009, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income for 2009 is:
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