Reference no: EM132485407

Using the Annual Report of Apple Inc, answer the following questions in the discussion:

Question 1: What is the name of the outside auditing firm for Apple Inc?

Question 2: How long after Apples Inc year-end did the auditors issue their opinion?

Question 3: Who bears primary responsibility for maintaining effective internal control over financial reporting? How can you tell?

Question 4: Does it appear that Apple inc has adequate internal control procedures? How can you tell?

Question 5: By how much did Apples inc cash balance change from the beginning of the year to the end of the year?

Question 6: What type of instruments does Apple inc consider to be cash equivalent?

Question 7: Calculate the cash ratio. How does this ratio compare with the industry?

Question 8: What is the balance of accounts receivables for Apple Inc?

Question 9: Compute the acid-test ratio. If the current liabilities came due immediately, could the company pay them?

Question 10: Compute the accounts receivable turnover at year-end.

Question 11: Compute days sales in receivables at year-end.

Question 12: Based on the acid-test ratio, accounts receivable turnover, and days sales in receivables, how does Apple inc compare to the industry?