Tests of transactions

Assignment Help Accounting Basics
Reference no: EM13144665

As planning materiality is decreased, the auditor would most likely plan more tests of transactions to.

a. Find smaller misstatements.

b. Find larger misstatements.

c. Increase the tolerable misstatement in the accounts.

d. Decrease the risk of assessing control risk too low.

Reference no: EM13144665

Questions Cloud

Select a second sampling technique for same hypothesis : Select a second sampling technique for the same hypothesis and give a second detailed design of how you would gather sampling data.
Calculate the enthalpy change for an isobraic change : calculate the enthalpy change for an isobraic change of steam from 0.8 MPa and 250 C to saturated liquid
Which of the following is not a function of membrane protein : Which of the following is not a function of membrane proteins?
How large a sample is necessary for confident of results : A recent poll of 700 people who work indoors found that 278 smoke. If the researchers want to be 98% confident of their results to within 3.5 percentage points, how large a sample is necessary?
Tests of transactions : As planning materiality is decreased, the auditor would most likely plan more tests of transactions to.
What will be the final temperature of the water : If 420 Joules are added to 20 grams of water to 30oC, what will be the final temperature of the water?
Method for financial accounting purposes. : In 2010, Steinrotter Construction Corp. began construction work under a 3-year contract. The contract price was $1,000,000. Steinrotter uses the percentage-of-completion method for financial accounting purposes.
Problem related to advertiser records : In an Advertiser's records, a newspaper ad submitted and publisdhed this week with the agreement to pay for it next week would:
Calculate the concentrations of pb+2 : To 333 milliliters of a 0.120 molar Pb(NO3)2 solution, 0.667 milliliteres of 0.435 molar KIO3 is added. Calculate the concentrations of Pb+2 and IO3- in the solution at equilibrium.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What additional procedures pherson must perform

Criticize the positions taken by Pherson and Collier, and express your own opinion about the similarities and differences that should exist in understanding internal control and assessing control risk for different-sized companies.

  Maximizing revenues for specific year

A. Which price should Premium choose, $57 or $60, to maximize its revenues for the year? B. What other factors should Premium consider before making its pricing decision?

  Application of cost principle in finding acquisition cost

Explain the application of the cost principle in determining the acquisition cost of plant assets.

  Cost of the setup mechanics

If the company allocates the cost of the setup mechanics based on the number of setups, the setup costs to be allocated to an order of 300,000 Nurturing Face Cream jar covers for Aristedes Cosmetics Company would be:

  Material participant in the restaurant activity

Maria, who owns a 50% interest in a restaurant, has been a material participant in the restaurant activity for the last 20 years. She retired from the restaurant at the end of last year and will not participate in the restaurant activity in the fu..

  Budgeted cash balance

Finally, Giovanni estimates that he needs to withdraw $55,000 from the business (as dividends) to cover his own personal living expenses this year. Will Giovanni have enough cash to get through the year? What is his budgeted cash balance on Decemb..

  What would the stock price be just after the dividend shares

The company also declared and paid a 10% stock dividend on its common shares. When the stock dividend was declared, 1 million common shares were outstanding, and the market price of common stock was $135 per share.

  Calculate the amount of interest capitalized for 2011

On January 2, 2011, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2012.

  Share partnership losses

Partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. Kasi's basis in the partnership interest is:

  Annual net income and the annual net cash flow

What is the effect of amortizing a bond discount upon an annual net income and the annual net cash flow from operating activities?

  What is net present value using these alternative estimates

Calculate the net present value of the project. (For all net present value calculations, if the net present value is negative, show the amount in (parenthesis). Round all answers to 0 decimal places.)

  Journal entries made by colson company

Prepare the journal entries made by Colson Company on the followin dates:

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!

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