Auditing‚ 12e (Arens) Chapter 1 The Demand for an Auditing and Assurance Profession 1.1 Identify the components of an audit and explain why there is a demand for audits 1) Which of the following illustrates the definition of auditing with respect to the evidence analysis process? A) accumulation and evaluation of evidence about balance sheet accounts B) learning about different types of computing technology‚ such as mainframes C) writing an operational audit report that is tailored to the client’s
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Solution maf420 Question 1 a) Kettle : 3000 unit per month : 1‚500 kg of Material L Rice cooker : 1000 unit per month : 1‚500 kg of Material L So‚ the ratio is 1:3. If the company wishes to fulfill all the targeted kettle produce‚ therefore they should use all the material available to produce rice cooker for produce that component. From here‚ we can conclude that‚ the company need to scarified 1000 unit of rice cooker to produce 3000 unit of kettle. The total contribution lost is….
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Chapter 1 Managerial Accounting‚ the Business Organization‚ and Professional Ethics Management accounting produces information for managers within an organization. Financial accounting produces information for external parties‚ such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies. What kind of accounting information do managers need to achieve their goals and objectives? Good accounting information helps answer three types of questions: 1. Scorecard questions 2. Attention-directing
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CHAPTER 11 Depreciation‚ Impairments‚ and Depletion EXERCISE 11-4 (15–25 minutes) (a) $315‚000 – $15‚000 = $300‚000; $300‚000 ÷ 10 yrs. = $30‚000 (b) $300‚000 ÷ 240‚000 units = $1.25; 25‚500 units X $1.25 = $31‚875 (c) $300‚000 ÷ 25‚000 hours = $12.00 per hr.; 2‚650 hrs. X $12.00 = $31‚800 (d) 10 + 9 + 8 + 7 + 6 + 5 + 4 + 3 + 2 + 1 = 55 OR n(n + 1) = 10(11) = 55 2 2 10 X $300‚000 X 1/3 = $18‚182 55 9 X $300‚000 X 2/3 = 32‚727 55 Total for 2015 $50‚909 (e) $315‚000 X 20% X
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Summary: Chapter 11 At the beginning of chapter 11 of the novel “The Hobbit“ when the group reaches the foot of the mountain they decide to search out the secret door described on their map. After hours of searching‚ Bilbo finally locates a narrow passage along a cliff that leads to a patch on the mountain’s side. Though the patch must be the door‚ the dwarves cannot find a way to open it. One evening the hobbit suddenly the riddle on the map. He quickly gathers the other dwarves by the door‚
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1. award: 7 out of 7.00 points TF Qu. 1 Activity-based costing involves a two-stage ... Activity-based costing involves a two-stage allocation process in which overhead costs are first assigned to departments and then to jobs on the basis of direct labor-hours. True False True / False Difficulty: Medium TF Qu. 1 Activity-based costing involves a two-stage ... Learning Objective: 03-01 Understand the basic approach in activity-based costing and how it differs from conventional costing
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Chapter 4 1. If you invest $1000 today at an interest rate of 10% per year‚ how much will you have 20 years from now‚ assuming no withdrawals in the interim? SOLUTION: n PV FV PMT Result 20 2. i 10 1000 ? 0 FV =6‚727.50 a. If you invest $100 every year for the next 20 years‚ starting one year from today and you earn interest of 10% per year‚ how much will you have at the end of the 20 years? b. How much must you invest each year if you want to have
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CHAPTER 11 TEST QUESTIONS True-False 1. Efficiency of distribution facilities and networks is not nearly as critical as their speed. True/False 2. Inventory handling‚ storage‚ and processing facilities help supply chains create time and place utility. True/False 3. Sortation refers a type of conveyer equipment. True/False 4. Organizations may benefit substantially from the establishment of one or several warehouses to reduce transportation costs. True/False 5. A common fulfillment
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In chapter 11‚ of Harper Lee’s‚ To Kill a Mockingbird‚ Jem has to go to Mrs. Dubose’s house after school every day to read to her because he destroyed her flowers. The story would be described much differently‚however‚ if it was from the perspective of Mrs. Dubose. All throughout the first part of the book‚ Jem and Scout have to walk past Mrs. Dubose’s house to get home from school everyday. They are ridiculed constantly and‚ for the most part‚ handle it well. That is‚ before Mrs. Dubose crossed
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Chapter 11 Review Questions 1. What is the role of knowledge management and knowledge management programs in business? Define knowledge management and explain its value to businesses. Knowledge management is the set of processes developed in an organization to create‚ gather‚ store‚ maintain‚ transfer‚ apply‚ and disseminate the firm’s knowledge. Knowledge management promotes organizational learning and incorporates knowledge into its business processes and decision making. Describe the important
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