User Account

All Pages

Explain why are long-lived assets and inventory assertion

Assignment Help Financial Accounting
Reference no: EM132734617

Question 1: Why are the long-lived assets and inventory assertions of existence said to have an inherent risk of material misstatement that is higher than that of the account payable?

Question 2: Do you think the blank confirmation is included in the positive or negative confirmation? Also explain what the advantages and disadvantages of each type of confirmation are, along with what kind of situation it is suitable to use!

Question 3: Why is a cash account said to have a high inherent risk of possible fraud? Explain some of the controls related to cash accounts!

Reference no: EM132734617

Questions Cloud

Determine what account should client classify the apartment : You are an auditor at a public, In your opinion, as an auditor, what account should the client classify the apartment and housing / real estate complex be?
How unethical practices impact the law : This module's focus is on the Legal System, but in our examination of ethics, it's important to pay attention to how unethical practices impact the law.
Evaluate merit of primary vs. tertiary health services : Evaluate the merit of primary vs. tertiary health services related to a population's health in a country of your choice.
Evaluate the authors use of literature : For this Discussion, you will evaluate the purpose statements in assigned journal articles in your discipline and consider the alignment of theory, problem.
Explain why are long-lived assets and inventory assertion : Explain Why are the long-lived assets and inventory assertions of existence said to have inherent risk of material misstatement that is higher than
How molecule of glucose provides energy in form of atp : Briefly explain the process of how a molecule of glucose provides energy in the form of ATP, in the presence of oxygen
Studying professional organization : Analyze and discuss the selected organization's aim and activities.
Maintain blood calcium homeostasis : How does your endocrine system compromise your bone density to maintain blood calcium homeostasis?
How goals utilize the genetic and biological theories : Develop two goals for a client with ADHD using the genetic and biological theories of personality development. Explain how these goals utilize the genetic.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare report-effect on companys total net operating income

n outside supplier has offered to make the part and sell it to the company for $32.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. Prepare a report that shows the effe..

  Estimate the equity beta for vrc

40%, that the operating income is proportional to divisional value and that VRC has a debt to capital ratio of 40%, estimate the equity beta for VRC.

  Calculate the total revenues earned by brown company

Calculate the total revenues earned by Brown Company during its first year of operations - Calculate the balance in the advertising expense account at December 31, 2006.

  Record all necessary entry related to contract on the june

On June 1, 2017, Record all necessary entry/entries related to this contract on the June 30, 2017, when HIF closes its books of accounts dates

  What the accrued interest in dollar amount would be

Pays interest every 364 days just paid interest 54 days ago, if the par value on the bond is $1,000, then the accrued interest in dollar amount would be

  What is the correct journal entry for recording

What's the correct journal entry for recording the second semiannual payment? (Round interest calculation to the nearest dollar.)

  Prepare a record the exchange of land to settle debt

Prepare a Record the exchange of land to settle debt. Record any necessary adjustment prior to recording the exchange for debt.

  Prepare all necessary journal entries in for both situation

Prepare all necessary journal entries in 2019 for both situations. Hatcher Cosmetics acquired 10% of the 200,000 ordinary shares

  As controller of company-determine selling price of bonds

The Windsor Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in the Sunbelt. In order to do so, Windsor has decided to locate a new factory in the Panama City area. As the controller o..

  Determine what amount will the investment accumulate

What amount will the investment accumulate? $28,214, invested today for 5 years at 19.39 percent, compounded monthly. Round the answer to two decimal places.

  Straight-line amortization of premium related to bond

Straight-line amortization of a premium related to a bond issuance would result in which of the following?

  What was the purpose of the neutrality acts

Why did World War I seem like an ineffective effort to many Americans? How did this affect Americans' views of war? What was the purpose of the Neutrality Acts? Why were they challenging to maintain? What role did America play in the world between Wo..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd