Which account and assertion would be least represent a risk

Assignment Help Accounting Basics
Reference no: EM132690835

Problem 1: You are the auditor of Muthi Pty Ltd (Muthi). You have noted that during the year, Muthi's management has implemented a bonus incentive scheme for salesmen based on achievement of individual sales targets. Which of the following account and assertion would be LEAST likely to represent a risk in the audit of Muthi?

a) Sales: Cut-off.

b) Accounts receivable: Completeness.

c) Sales: Accuracy.

d) Accounts receivable: Existence.

Reference no: EM132690835

Questions Cloud

Which would be the most appropriate audit opinion for moped : You are the auditor for Moped Pty Ltd (Moped), Which would be the most appropriate audit opinion for the Moped engagement?
ENG 215 Research And Writing Assignment : ENG 215 Research And Writing Assignment Help and Solution - Strayer University, USA - Homework Help - Writing Activity - Prewriting & Research Packet
Explain challenges associated with involving a nurse leader : Consider the benefits and challenges associated with involving a nurse leader on an implementation team for health information technology.
Which would require pri management to undertake : Pri's management, which of the audit opinion would be most appropriate for the audit of Pri for the financial year ending 30 June 2018?
Which account and assertion would be least represent a risk : You are the auditor of Muthi Pty Ltd (Muthi). Which account and assertion would be LEAST likely to represent a risk in the audit of Muthi?
Compare and contrast pubiix : Compare and contrast Pubiix against its new competitors in Richmond, Virginia, to get a sense of the industry environment. Based on your analysis
Which appropriate procedure to undertake in testing sales : Which of the following would be the LEAST appropriate procedure to undertake in testing sales of the Minnki Palsii product line?
Processes-products and services : Apply the EFQM Business Excellence model, using relevant theory and concepts learnt on the module, to one organisation of your choice
Describes the auditor determination of planning materiality : Describes the auditor's determination of planning materiality? Which audit activities is undertaken at the finalisation and reporting stage of an audit?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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