In this discussion question, you will identify the purpose of auditing and the ethical standards applicable to auditing.
Why do you believe that it is essential for organizations to have an audit? What purpose does an audit serve? Who benefits? Why? What ethical standards apply to auditors? Which ones do you feel are the most important? Why?

Seitz trucking's current year net income or loss given that Seitz trucking declared $30,000 of dividends during this year with retained earnings increased by $50,000 is $80,000.

Seitz Trucking's current year net income or loss given that it declared $30,000 of dividends during the current year can be calculated as follows:

Retained earnings increase + Dividends declared = Net income

$50,000 + $30,000 = $80,000

Therefore, Seitz Trucking's current year net income or loss is $80,000.

Net income is a measure of a company's profitability that represents the amount of revenue that remains after deducting all expenses. It is calculated by subtracting all expenses from the total revenue. If a company declares dividends during the year, the amount of dividends paid must be subtracted from the net income to arrive at the retained earnings figure. The retained earnings figure reflects the amount of profit that is kept by the company after paying dividends.

In the given scenario, Seitz Trucking's retained earnings increased by $50,000 during the current year. This means that the company made a profit during the year that was sufficient to cover all expenses and pay $50,000 as dividends. If the amount of dividends declared is added back to the retained earnings increase, we can calculate the company's net income for the year.

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A federal inspection stamp on a cut of meat indicates that the cut was found to be wholesome and fit to eat.

A federal inspection stamp was established after making meat inspection mandatory in US. It is a responsibility which comes under the Food Safety and Inspection Service. It ensures the quality of the meat provided in markets.

A federal inspection stamp is placed on each cut of meat which passes inspection. It is a round stamp with purple ink and written 'US Inspected and Passed'. So this stamp on the meat or the carton implies that the meat is fresh and wholesome to eat and has met every requirements of the federal inspection.

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Answer:

Risk can be thought of as the possibility of incurring a loss.

Explanation:

Loss.

The new securities have a duration of 18.75 years.

The original amount is =. $100

New securities = $40

Time = 12.5 years

In both public and private markets, securities are substitutable, tradeable financial instruments used to raise capital.

Total Portfolio - Original Amount + New securities

= 100 + 40

= 140

Let the duration of the $40 million in new securities be = D.

Therefore,

12.5 = (100/140 × 10) + (40/140 × D)

12.5 = 7.1425 + 0.2857 D

18.75 = D

The new securities have a duration of 18.75 years.

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Answer: Punishment and Decrease

Explanation: I got it right.

The correct options are (A) By creating an embargo, Country W is creating a barrier to trade. The embargo will cause Country L's productivity to (B) decrease or decline, as they are having difficulties receiving the metals needed for production of their cars.

A barrier in trade refers to any obstacle that hinders free and open trade. Such hindrances can be created intentionally or unintentionally by governments or other players in the market. Barriers in trade can take on many forms, such as tariffs, quotas, embargoes, regulations, and subsidies. They affect international trade by increasing the costs of goods, limiting consumer choices and reducing the amount of trade between countries. The result is often a negative impact on the economy, as barriers lead to decreased productivity, reduced competition, and increased costs. Countries often use trade barriers to protect their domestic industries or to correct perceived trade imbalances.

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Answer:

D. Sales tax

Explanation:

This is because the person is burben with the tax

Answer:

profit

Explanation:

Answer:

profit

Explanation:

Kentwood corporation reports net sales of $880,000 in year 1 and $720,000 in year 2, then by the use of Horizontal analysis, the percentage increase or decrease in sales is 22.22%.

Horizontal analysis is a technique that is used in examining a company's financial records throughout time.

It is frequently shown as a percentage increase over the same line item the previous year. Financial statement consumers can easily discover trends and growth patterns using horizontal analysis.

Computation of percentage increase or decrease in sales:

Percentage decrease in sales = decrease in sales / year 1 sales × 100

Decrease in sales = 160,000 ($880,000-$720,000)

= 160,000/720,000×100

= 22.22 %

Therefore, the percentage increase or decrease in sales is 22.22%.

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The Net FUTA tax is $740.4,  Net SUTA is $5,923.2 and  Total unemployment taxes is $6,663.6.

A. Net FUTA tax

Net FUTA tax= $123,400 x 0.6%

Net FUTA tax= $740.4

B. Net SUTA tax

Net SUTA tax= $123,400  x 4.8%

Net SUTA tax= $5,923.2

C. Total unemployment taxes

Total unemployment taxes= $5,923.2 + $740.4

Total unemployment taxes= $6,663.6

Therefore the Net FUTA tax is $740.4,  Net SUTA is $5,923.2 and  Total unemployment taxes is $6,663.6.

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The TRUE statement about Shawn, who lost $15,000 on his stock investments this past year, is that C. He can deduct the loss from his taxable income.

Shawn's taxable income (capital gains) will be reduced by the amount of the investment loss. However, he can only recover $3,000 in each year while the remaining will be carried forward to subsequent years.

Shawn cannot recover the investment loss:

Thus, the true statement is C.

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Humans build homes and businesses to live properly without financial burden. The shelter is one of the fundamental requirements for every human being be it financial, along with food and clothing. It protects human beings from wild animals, natural disasters, and changing climatic conditions.

The shelter is one of the fundamental requirements for every human being along with food and clothing. It protects human beings from wild animals, natural disasters, and changing climatic conditions. So, humans need shelter to feel protected and for a sense of well-being. It is a comfortable place for a person where one can rest, rejuvenate and revive. Thus humans build homes and businesses to live properly without financial burden.

So, humans need shelter to feel protected and for a sense of well-being.

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Answer:

depends on the situation give me a strategy and ill give you why it would be the best

The profit in percentage given the revenue and the expenses is -38.60%

Percentage is the fraction of a number expressed as a value out of 100. The sign that is used to represent percentage is %. In order to convert a number to percentage, multiply by 100.

Profit is the difference between revenue and expenses. Revenue is the total income earned by a company before any deductions are made. Expenses include all the cost incurred in running a business.

Profit = revenue - expenses

1,000,000 - 1,386,000 = -386,000

Profit in percentage = (profit / revenue) x 100

(-386,000 / 1,000,000) x 100 = -38.6%

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Answer:

OSHA

Explanation:

FDA is food and drug

USDA is the US department of agriculture

FTC is federal trade commision

OSHA is a government organization that develops workplace safety regulations. Thus, the appropriate choice is (D).

A government agency, occasionally an appointed commission, is a permanent or semi-permanent institution within the legislative, executive, and judicial branches of government that is tasked with supervising and managing a variety of tasks, including administration.

Agency kinds come in a wide range. A government agency is often distinct from a department, ministry, and other sorts of public bodies established by the government, notwithstanding terminology differences. Since different sorts of organizations (such commissions) are typically established in an advising capacity,

The boundary between executive and advisory tasks of an agency is sometimes blurred in reality, yet it is not permitted.

Within a federal system, an agency of the government may be founded by either the federal government or a state government.

Hence the correct option is (D).

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The schuler insurance company processed 60,000 claims in march. The cost to process each claim was $24 ($240,000 of labor / 60,000 claims + $840,000 of overhead / 60,000 claims = $24).

What do you know about insurance company?

An insurance company is a financial institution that specializes in providing insurance products and services to individuals and businesses. It provides financial protection against unexpected loss or damage to assets, and can help protect against financial losses caused by illness, accident, or death. Insurance companies also help customers manage risks by providing advice on how to reduce potential losses, and they often provide additional services such as investment management and estate planning. Insurance companies are heavily regulated by the government, and they must adhere to strict regulations to ensure customer protection.

So, The cost to process each claim was $24.

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The correct answer is b. A differentiation strategy requires a functional structure with limited formalization, broad job descriptions, and an emphasis on the product R&D and marketing functions.

Organizational structure plays a crucial role in the successful implementation of business-level strategies. Different strategies require different structures to effectively execute the plan. For instance, a cost leadership strategy focuses on cost reduction and requires a simple structure with high specialization, centralization, and structured job roles. A differentiation strategy, on the other hand, requires a functional structure with limited formalization, broad job descriptions, and an emphasis on the product R&D and marketing functions. This structure enables the organization to differentiate its product from competitors through innovation, quality, and service.

An integrated cost leadership/differentiation strategy requires a multidivisional structure using high formalization, decentralized decision making, and vertical coordination. This structure allows the organization to focus on both cost reduction and differentiation, as well as manage multiple product lines. A focused strategy requires a functional structure featuring high levels of both specialization and formalization, allowing the organization to concentrate on a specific market niche.

Therefore,the correct answer is b. A differentiation strategy requires a functional structure with limited formalization, broad job descriptions, and an emphasis on the product R&D and marketing functions.

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If Mountain Fun buys bindings and manufactures another product, it can contribute an additional $2,700 to profit. In this case, the best alternative for the company is to buy bindings. Hence, option C is correct.

To determine whether Mountain Fun should make or buy the bindings, we need to perform an incremental analysis. Currently, the total manufacturing cost for 1,850 bindings is $30,155, making the cost per pair $16.30. If the company decides to buy the bindings from an outside supplier, the cost per binding will be $14, plus $1.00 for transportation and $0.20 for adding the logo, resulting in a total cost of $15.20 per binding. For 1,850 bindings, the cost would be $28,120. By purchasing the bindings, the company can avoid $2,400 in fixed overhead costs.
Incremental Analysis:
Make: $30,155 (total manufacturing costs)
Buy (Outsource): $28,120 (total cost of 1,850 bindings from supplier)
Difference: $2,035 (savings if the company buys the bindings)
Based on this analysis, Mountain Fun should buy the bindings from the outside supplier, as it would save $2,035.
Considering the alternative use of the facilities, if Mountain Fun buys bindings and manufactures another product, it can contribute an additional $2,700 to profit. In this case, the best alternative for the company is to buy bindings and use the facilities to manufacture another product, as it will save costs on the bindings and generate additional profit from the new product.

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The administrative department handles management activities that affect the entire organization. The accounting department keeps the financial records of the business and prepares reports that help the business to make financial decisions.

Using the double  declining-balance depreciation method,  the vehicle's second year depreciation expense is: $2,812.50.

First step is to calculate the first  year depreciation expense

First  year depreciation expense=15,000×(100%/8 x 2)

First  year depreciation expense=15,000 x 25%

First  year depreciation expense=3,750

Second step is to calculate Second year depreciation expense

Second year depreciation expense = (15,000-3750) x 25%

Second year depreciation expense=11,250x 25%

Second year depreciation expense  =2812.50

Therefore  Using the double  declining-balance depreciation method,  the vehicle's second year depreciation expense is: $2,812.50.

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The VRIO framework is used to determine whether a firm's internal resources and capabilities are valuable, rare, inimitable, and organized. These characteristics might indicate the firm's ability to create a sustainable competitive advantage over rivals. Xiaomi, the Chinese technology company, has expanded into the electric vehicle industry, aiming to take advantage of China's booming electric car market.

Xiaomi has been involved in the EV industry for several years, but only recently declared its goal to launch an EV. The VRIO model can be used to examine how Xiaomi's internal resources and capabilities may assist it in creating a competitive advantage in the EV industry. Let's look at how Xiaomi's capabilities may be evaluated using the VRIO framework:

Value: Xiaomi is a highly respected brand with a large following in China and across the world. This could give the firm an advantage in terms of marketing and branding for its EV.

The company is also known for its ability to create high-quality, low-cost smartphones, which could transfer to the EV industry by offering affordable, high-quality electric vehicles.

Rarity: Xiaomi's experience in smartphone design and production, as well as its access to capital, may be rare in the EV industry. The company's ability to collaborate with various suppliers and partners, as well as its experience in managing complex supply chains, might also be useful in the EV industry.

Inimitability: Xiaomi's brand and reputation, as well as its organizational culture, are difficult to duplicate. However, since the electric vehicle market is already overcrowded, Xiaomi may need to develop a distinct product or service offering to stand out from the competition.

Organization: Xiaomi has a culture of innovation and is known for continuously improving its products and services. This culture could be used to drive development and innovation in the EV industry, potentially leading to a competitive advantage. Xiaomi's expertise in software development could also be leveraged to provide advanced electric vehicle features, such as self-driving capabilities.

In conclusion, Xiaomi may have some valuable resources and capabilities that could assist the company in developing a competitive advantage in the EV industry. However, given the current competition and market saturation, Xiaomi may need to develop a distinct product offering to differentiate itself from the competition.

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The amount of direct supplies charged to task no. 23 is $6,250, according to the query.

To determine the amount of direct materials charged to job no. 23, we need to use the predetermined overhead rate and the direct labor cost. Since the predetermined overhead rate is given as 80% of direct labor cost, we can calculate the direct materials charged as follows:

Direct Labor Cost = $5,000

Predetermined Overhead Rate = 80%

Direct Materials Charged = Direct Labor Cost / Predetermined Overhead Rate

Direct Materials Charged = $5,000 / 0.80

Direct Materials Charged = $6,250

Therefore, the amount of direct materials charged to job no. 23 is $6,250.

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The answer will depend upon the inventory cost flow assumption in use.

Essentially, cost flow assumptions refer to the method by which costs are removed from a company's inventory and reported as COGS. In the U.S., the following assumptions are commonly used for cost flow calculations: First-in, First-out (FIFO), Last-in, First-out (LIFO), and average. Furthermore, there are ways to estimate ending inventory, such as using retail inventory methods (specific identification methods) and assigning costs to inventory based on actual costs.

The inventory cost flow assumption states that inventory items' costs change after being acquired or built and after they are sold. Due to the cost differential, management needs a formal system for assigning costs to inventory.

In cases where inventory costs are relatively stable over the long term, the cost flow assumption is a minor item. This is because the cost of goods sold will not differ significantly regardless of which cost flow assumption is used. As a result of dramatic changes in inventory costs over time, different cost flow assumptions will yield different profit levels. In periods of fluctuating costs, the accountant should pay particular attention to the financial impact of the inventory cost flow assumption.

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Answer:

haha i am wierd too i feel u

Explanation:

Answer:

i shall win them and im wierd also.

Explanation:

Answer: Portfolio income is money received from investments, dividends, interest, and capital gains. It is one of three categories of income.

Explanation:

Answer:

concerned with the actions related to particular functions or processes within a business. the overall companywide game plan for managing a set of businesses.

Explanation:

Business strategy, as a level of the company's strategy-making process, is Multiple choice question. the strategic initiatives and approaches for managing key operating units and specific operating activities. focused on improving the competitive strength of a single business unit or non diversified business. co

If the government cuts taxes by 10 billion dollars and cuts spending by the same amount, RGDP will: C. remain the same.

RGDP will remain the same  because the two actions, tax cuts and spending cuts, cancel each other out in terms of their effect on the overall economy. While the tax cuts may stimulate consumption and investment, the reduction in government spending may have a contractionary effect on the economy.

The net effect on RGDP would be zero, assuming all else remains equal. However, in reality, the impact on the economy could be more complex and depend on various factors such as the overall state of the economy, the specific sectors affected by the spending cuts, and the way the tax cuts are distributed among different income groups.

Therefore the correct option is C.

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The four-firm concentration ratio for this industry is 91% if a Industry Y is dominated by five large firms that hold market shares of 41, 21, 17, 9, and 12 percent.

To calculate the four-firm concentration ratio for Industry Y, we need to add up the market shares of the four largest firms.

The four largest firms in Industry Y hold market shares of 41, 21, 17, and 12 percent.

When we add these percentages together, we get:

41% + 21% + 17% + 12% = 91%

The four-firm concentration ratio for this industry is 91% if a Industry Y is dominated by five large firms that hold market shares of 41, 21, 17, 9, and 12 percent.

Therefore, the four-firm concentration ratio for Industry Y is 91%. This means that the four largest firms in the industry control 91% of the total market share.

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