(a) Income tax expense: $195,000; Deferred income taxes: $45,000 (Increase); Income taxes payable: $150,000 (Decrease)
(b) Valuation account: $127,500 (Increase)
(a) The income tax expense for 2014 is calculated by multiplying the taxable income ($650,000) by the tax rate (30%), resulting in $195,000. The decrease in the temporary difference from $850,000 to $750,000 creates a $100,000 decrease in the deferred tax asset.
Since the tax rate is 30%, the decrease in the deferred tax asset is $30,000 (30% of $100,000). Therefore, the deferred income taxes increase by $30,000, and the income taxes payable decrease by $30,000 from the balance of the deferred tax asset, resulting in $150,000.
(b) Assuming that half of the deferred tax asset will not be realized, half of the $255,000 deferred tax asset, which is $127,500 (50% of $255,000), needs to be written off.
This amount is recorded as an increase in the valuation account, representing the portion of the deferred tax asset that is not expected to be realized.
For more questions like Taxes click the link below:
https://brainly.com/question/1362871
#SPJ11
In less-developed countries, the poor, those making less than $2.25 a day, typically spend how much of their income on food?
The majority of people in the more developed globe are accustomed to commercial agriculture and large-scale farming techniques.
How did you spend your day today?I simply went for a walk after waking up at five in the morning. I completed my yoga and even some workout at 6:00 AM. I assisted my wife in preparing and packing a lunch for the two of us. I prepared myself till 7:00 and then had breakfast with my wife while discussing some housework that needed to be done.
Essay on how I spend my free time.When I have finished all of my daily tasks, including my homework and chores, I am considered to be "free" to engage in activities that I find enjoyable. I usually spend a lot of time watching television. as one of my favorite TV programs
To know more about spend visit:
https://brainly.com/question/22862643
#SPJ4
What is the efficient use of scarce resources?
Economic efficiency refers to the usage and allocation of each limited resource in an economy among producers and consumers in a way that maximizes economic production and benefits for consumers.
What does economics mean by the efficient use of resources?Resource efficiency refers to utilizing the planet's finite resources sustainably while minimizing environmental effects. It enables us to produce more with fewer resources and to deliver more value with fewer efforts.
The most effective approach to distribute limited resources is typically through a system of markets and prices. It is therefore mostly utilized in the majority of industrialised nations today. Market Allocation Alternatives The market system may not always be the best.
Societies can combat scarcity by expanding their supply. There will be less scarcity the more commodities and services that are accessible to everyone. Of course, expanding supply is constrained by factors like manufacturing capacity, usable land, time, and so on.
To know more about scarce resources, refer:
https://brainly.com/question/30142142
#SPJ4
Joni ha 20 grape he and three of her friend each get the ame number of group how many grape for each peron receive
Each person receives 5 grapes.
How is division in mathematics used?The four basic arithmetic operations used by mathematicians are addition, subtraction, multiplication, and division. Of these four processes, the division is one that we use most frequently in our daily job. It entails separating a sizable group into smaller, equally sized pieces. Suppose you divide 25 by 5. In this instance, 25 x 5 = 5 will be the division fact.
The reverse of division is multiplication. When you divide 12 into 3 groups of similar size, you get 4 in each group if 3 groups of 4 sum up to 12. The main goal of division is to divide the population into equal groups or to determine how many people are in each category following a fair distribution.
There are total no. of persons (including Joni)= 4
Total no. of grapes he have= 20 grapes
Every person will get= 20 / 4 = 5 grapes
Learn more about mathematics: https://brainly.com/question/11476141
#SPJ4
What are the monetary factors that affect the money supply?
monetary value. managing money. interest rates. Inflation. anticipated inflation.
The money that the Federal Reserve issues is known as the monetary base, sometimes known as high-powered money. Banks generate revenue through loans. To increase interest revenue, a bank lends or invests its excess reserves. The money supply grows by more than $1 for every $1 rise in the monetary base. a general increase in interest rates linked to restricting credit, an increase in interest rates on government debt that is unaccompanied by changes in other interest rates, an improvement in the outlook for company profits, an increase in income, and inflation forecasts.
To learn more about inflation click the link below:
brainly.com/question/30112292
#SPJ4
What is chemical exposure in the workplace?
Chemical exposure is when workers in a firm are in a polluted working environment. In most cases this is in companies that deal with chemicals like the ones making medicine or cement company.
You can be exposed to chemicals through various ways at work for example through breathing in in cases of air pollutants like cement. In this case, masks should be worn at all times to prevent the long term or short term effects that may arise. Another way is through eating. Dirty and contaminated food causes food poisoning which is very harmful depending on what caused the poisoning. In this case, you should ensure the work kitchen is in great hygiene always. Lastly is contact where touching a harmful chemical may have bad effects on your skin or even spread diseases.
Consider reading more about chemical exposure at work here:
https://brainly.com/question/14207968
#SPJ4
What type s of data are in this dataset in Kaggle?
The compact SQLite database file format is supported by Kaggle. Multiple tables make up SQLite databases, and each table holds data in a tabular style. These tables are comparable in practise to CSV files, except they accommodate huge datasets better.
Data is a collection of discrete values used to describe quantity, quality, fact, statistics, or other basic unit of meaning, or a set of symbols that can be further interpreted for knowledge. A single value within a group of dates is called a date.
Data is typically arranged in structures such as tables to give it additional context and meaning, and can also be used in larger structures as its own kind of data. Data can be used as variables in the calculation process. Data can be measurements or abstract concepts. Data are used in almost every aspect of organized human activity, including economics and scientific research.
To know more about Data here-
https://brainly.com/question/13650923
#SPJ4
What happens to producer surplus when supply is inelastic?
Supply is shown as a horizontal line and the producer surplus is 0 if supply is totally elastic. Supply is shown as a vertical line and the producer surplus is unlimited if supply is entirely inelastic.
A product is considered to be "perfectly" inelastic if it has zero elasticity. This demonstrates that regardless of how the product's price changes, neither the supply nor the demand will alter at all.
Producer surplus rises as supply expands. Producer surplus declines as supply rises. There is an inverse relationship between producer excess and supply price elasticity.
When a company gains from a rise in market demand, producer surplus is likely to increase. The graph demonstrates how farmers could increase their prices as consumer demand increases.
To learn more about supply
https://brainly.com/question/13296654
#SPJ4
Mt. Everet i 8,707. 37 feet higher than Mt. McKinley. What i the elevation of Mt. Everet
Mount Everest surpasses Mount McKinley by 8,707,37 feet. Mount Everett is 29028.87 feet above sea level.
The heights of Mount McKinley and Mount Everest.Mountains are compared to sea level. As a point of perspective, Mount Everest is 29,032 feet above sea level, whereas Mount Denali is 20,310 feet above it.
Mt. McKinley is undoubtedly the tallest mountain.Denali, which is located in central-south Alaska, is the highest peak in North America and is sometimes referred to as Mount McKinley at times. Denali's peak rises to 6,190 meters (20,310 feet) above sea level, making it the third-highest of the Seven Summits (the tallest peaks on all seven continents).
Let,
Everest = E
McKinley = M
McKinley is lower than Everest. For this, we can create an equation.
E - M = 8707.37
Considering that we already know M, we must locate E.
E = 8707.37 + M
E = 8707.37 + 20321.5
E = 29028.87 feet
Learn more about Mount Everest: https://brainly.com/question/13108678
#SPJ4
Which factor of production would the machines and building that a company uses to produce its products be considered?
Land, labor, entrepreneurship, and capital are examples of elements of production, which are the materials required to create a good or service.
What is entrepreneurship?Entrepreneurship is the creation or destruction of economic value. By this definition, entrepreneurship is seen to involve change, often including greater risk than is common when starting a business and maybe involving values other than just financial ones. An entrepreneur is someone who creates and/or finances one or more businesses, assuming the most of the risks and earning the majority of the rewards. Entrepreneurship has been defined in more detail as having the "capacity and willingness to develop, organize, and manage business ventures along with any risks that may arise in order to make a profit" and having the "capacity to develop, organize, and manage business ventures along with any risks that may arise in order to launch and manage new business ventures, which is frequently similar to small business."
To learn about entrepreneurship, visit:
https://brainly.com/question/29978330
#SPJ1
All of these are used when positive externalities exist, EXCEPT:
Question 93 options:
a) coupons.
b) vouchers.
c) taxes.
d) subsidies.
Option C is the correct answer here. All of these are used when positive externalities exist, EXCEPT taxes.
Under what prerequisites do effective externalities exist?A wonderful externality exists when a advantage spills over to a third-party. Government can discourage terrible externalities with the aid of taxing items and services that generate spillover costs. Government can inspire tremendous externalities by using subsidizing items and offerings that generate spillover benefits.
What are the 4 kinds of externalities?In economics, there are 4 one-of-a-kind kinds of externalities: effective consumption and effective production, and poor consumption and negative production externalities. As implied by their names, high-quality externalities typically have a fine effect, while terrible ones have the contrary impact.
Learn more about positive externalities here:
https://brainly.com/question/10743687#SPJ4billy's exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interst expense of $38,000, and a tax rate of 21 percent. the firm just paid out $95,000 in cash dividends. what is the addition to retained earnings?
The retained income are calculated by way of including net earnings to (or subtracting net losses from) the previous term's retained profits and then subtracting any net dividend(s) paid to the shareholders.
The figure is calculated at the cease of every accounting length (monthly/quarterly/annually).
Where do you find addition to retained earnings?Retained Earnings are pronounced on the stability sheet below the shareholder's fairness part at the quit of every accounting period. To calculate RE, the opening RE balance is introduced to the internet earnings or decreased with the aid of a net loss and then dividend payouts are subtracted
While these two terms overlap, they are no longer synonymous. Net income is the amount you have after subtracting prices from revenue. On the different hand, retained income are what you have left from net earnings after paying out dividends. You want to comprehend your internet income, additionally regarded as internet profit, to calculate it
learn more about retained earnings here:
https://brainly.com/question/25631040#SPJ4What causes desertification Mcq?
Deforestation, population growth, subpar farming methods, and climate change are only a few of the causes of desertification.
A form of land degradation known as desertification occurs when fertile areas become more and more arid as a result of biological productivity being lost as a result of biotic processes or as a result of human activity. It is the growth of a arid areas as a result of a number of reasons, including climate change and excessive soil exploitation brought on by the human activities.
Desertification has always happened naturally throughout geological time. Recent years have seen a flurry of scientific research into the potential effects of human activity, poor land management, deforestation, and climate change on desertification.
Learn more about Desertification here
brainly.com/question/24255548
#SPJ4
Why does it cost less to buy in bulk?
Buying in bulk saves you money per unit, but consumers should be aware of the benefits of extra merchandise. It's more than the price of buying what you need for a month.
If people are in a store and he finds a year's worth of crackers with only a penny a pack, he tends to forget to consider whether he needs or wants a lot of crackers. Signs like "super deals" and "incredible savings" can cloud their thinking: What's the difference in grocery budgets if you buy a $45 bottle of shampoo versus a $12 bottle? , means the grocery needs to be credited to his card. Ultimately, the price increase has an immediate financial impact and may or may not pay for itself in 12 months.
Another factor bulk buyers may not consider is storage costs. Americans have some of the largest refrigerators in the world, but even when refrigerator space runs out, the market for freezers, dry storage containers, and other food storage equipment remains healthy. Bulk purchases may result in the need to purchase additional storage and pay for ongoing food storage costs such as food storage. B. Electricity bills for large refrigerators and freezers.
Know more about merchandise here:
https://brainly.com/question/17201577
#SPJ4
What are some of the benefits of trade agreements for international trade?
In addition to lowering and removing tariffs, free trade agreements also aid in removing obstacles that exist behind borders that would otherwise prevent the free flow of products and services.
In addition to lowering and removing tariffs, free trade agreements also assist in addressing hidden trade barriers that would otherwise obstruct the flow of goods and services, promote investment, and enhance the regulations governing matters like intellectual property, e-commerce, and public procurement.
Free trade agreements strengthen shared approaches to trade and investment between Australia and our trading partners and encourage regional economic integration.
To learn more about trade agreements, visit the link below:
brainly.com/question/30099308
#SPJ4
Babe ruth's 1931 salary was $80,000. Government statistics show a consumer price index of 15. 2 for 1931 and 195 for 2005. Ruth's 1931 salary was equivalent to a 2005 salary of about.
Ruth's 1931 salary is equivalent to $1,284,631.15. Salary is the amount that will you get from your job.
Ruth's 1931 salary of $80,000 would be equivalent to a salary of approximately $1,284,631.15 in 2015 dollars. This is calculated by adjusting for inflation using the consumer price index. To find the equivalent salary in 2015, you would multiply the 1931 salary by the ratio of the 2015 CPI to the 1931 CPI.
To calculate the equivalent salary in 2015 dollars, the following formula is used:
1931 salary * (CPI2015/CPI1931) = equivalent salary in 2015 dollars
Where CPI is the Consumer Price Index.
Hence, it will be:
237/15.2 = 15.566
Then, you would multiply that ratio by the 1931 salary
($80,000 * 15.566 = $1,284,631.15).
Learn more about salary, here https://brainly.com/question/15095013
#SPJ4
Employees are most likely to change a job because of: the drive to work took too long.
the benefits package was not very good. PreviousNext
People are more likely to switch employment when they grow unsatisfied with the administration and the staff's poor leadership.
If someone works for an employer or PCB or provides information as part of their duties, they are considered to be employees. They are employed to perform certain tasks that are combined with work. A person is regarded as an employee if they are routinely hired by a firm to perform services for the company in exchange for remuneration and if those services are not being performed as a part of an independent business. Independent businessperson General categorization is covered in this section. See independent contractor for other usage (disambiguation). businesses, particularly those engaged in the gig economy.
Learn more about Employees here:
https://brainly.com/question/21847040
#SPJ4
A town has a population of 14000 and grows at 2% every year. To the nearest tenth of a year, how long will it be until the population will reach 19900?.
The population will reach 19900 in 7.2 years.
In this case, the population increase or decrease can be found by using compound interest method. The compound interest is interest we earn on interest. Compound interest is the interest which calculated on the principle and the interest accumulated over the previous period.
So, for the given situation, consider:
Population of the town, P = 14000
Rate of interest, R = 2% = 0.02
The population to the nearest tenth year, A = 19900
Nearest tenth, so n = 1
let T be the time in years.
Then, the formula for population increases by compound interest formula:
A = P (1 + R/n) ^nT
Now, substitute the values into the formula:
A = P (1 + R/n) ^nT
19900 = 14000 (1 + 0.02/1) ^1T
19900 = 14000 (1.02) ^T
1.02^T = 19900 / 14000
1.02^T = 1.42
Taking log on both sides:
T log 1.05 = log 1.42
T = log1.42 / log1.05
T = 7.18 ≈ 7.2
Hence, we can conclude that the population will reach 19900 in 7.2 years.
Learn more about compound interest at: brainly.com/question/14625121
#SPJ4
What is globalization and what is its role in international trade?
Globalization is the process of increased interconnectedness between countries, leading to the integration of economies, societies, and cultures around the world. It is an ongoing process that is constantly transforming how goods, services, knowledge, money, and people move around the world.
Globalization has played a major role in international trade by making it easier for businesses to connect across borders and allowing the free flow of goods and services to move between nations. It has also provided a platform for the exchange of ideas and knowledge, creating a more competitive global market.
This has enabled companies to take advantage of new markets and opportunities, while providing consumers with access to a larger variety of products and services.
To know more about globalization here
https://brainly.com/question/11919196
#SPJ4
1 Determine the cost recorded in the journal for the following situation;
Blazing Co. is looking for a new stove and has narrowed down their purchase to two different stoves.
Stove 1 cost 1,500
Stove 2 costs 1,700
Negotiated cost for Stove #2 1,400
They ran the numbers and decided that they want to purchase stove #1
They were able to negotiate the price on stove #1 to be $50.00 cheaper.
Cost of Stove
The information that must be recorded in the accounting book of the Blazing Co. company is the final price of stove #1, that is, $1,450.
What is the final price of stove #1?To calculate the price of stove #1 we must discount $50.00 (discount) from its initial sale price.
$1,500 - $50 = $1,450According to the above, its final price would be $1,450
What information do we record in the ledger?The information that we must record in the accounting book of the Blazing Co. company is the price at which the stove was purchased, that is, $1,450.
Learn more about price in: https://brainly.com/question/19091385
#SPJ1
A winning strategy is one that
a. results in a company becoming the dominant industry leader.
b. fits the company's internal and external situation, builds sustainable competitive advantage, and improves company performance.
c. is highly profitable and boosts the company's market share.
d. builds strategic fit, is socially responsible, and maximizes shareholder wealth.
A winning strategy is one that (B) enhances business performance, creates a sustained competitive advantage, and fits the internal and external environment of the company.
What is a winning strategy?A successful strategy includes coordinated and integrated decisions that address the five questions.
A successful company plan does not have to be extensive or difficult to understand.
Some of the best business concepts we've seen can be encapsulated in a few declarative sentences, a few paragraphs, or even a single page.
A successful strategy improves corporate performance, builds a long-lasting competitive advantage, and fits the company's internal and external environments.
The playing field is determined by where you play; the options for winning on that field are determined by how you play.
It is the key to success in the targeted demographics, markets, channels, and so on.
Therefore, a winning strategy is one that (B) enhances business performance, creates a sustained competitive advantage, and fits the internal and external environment of the company.
Know more about a winning strategy here:
https://brainly.com/question/30157092
#SPJ4
What are the exclusion from gross income?
Income from municipal bond income, child support, life insurance death benefit money, and welfare are all excluded from the IRS's determination of your income tax.
According to the exclusion rule, money that cannot be utilised to buy food or shelter is not taxable. The sum of an individual's earnings before taxes or other insurance is their gross income, which is sometimes referred to as their gross pay on a paycheck. This covers earnings from all sources, not only work, and is not restricted to earnings in cash; it also covers earnings from the receipt of goods or services. Before income tax, benefits, and other payroll deductions are taken out of an employee's paycheck, that amount is known as their gross pay.
To learn more about income tax, click here.
https://brainly.com/question/17075354
#SPJ4
1) A website’s success is measured by how well it
a. Generates traffic, drives conversions, generates revenues
b. Connects users, provides navigation, converts leads
c. Promotes products, invites engagement, directs conversions
d. Carries messaging, displays content, simplifies coding
A website’s success is measured by how well it generates traffic, drives conversions, and generates revenues.
What five factors define a successful website?
Your website needs the following 5 components to be successful:
The layout of a website.optimization for search engines.Marketing.Website safetyWebsite trust indicatorsIn terms of web development and optimization, having interesting content, eye-catching graphic assets, effective SEO, and clever UI/UX design is a requirement.
Therefore, Using these tactics as a starting point will lay the groundwork for a successful website.
Learn more about the website’s success from the given link.
https://brainly.com/question/15284872
#SPJ4
Which of the following best describes the MIB?
The primary goal of MIB is to convert numerical sequences into text that is understandable to humans.
What is the basic purpose of MIB?The Simple Network Management Protocol (SNMP) elements are described as a list of data items in an ASCII text file called the MIB, or Management Information Base. An object identifier, or OID, is a string of numbers that an SNMP device uses to identify each data object in a message or "trap" it sends. The real capabilities of an SNMP device are best understood through the MIB. You can't know what kinds of traps you can obtain from a device just by looking at its physical components. It might seem odd to you that a manufacturer would add a part to a product but leave it unspecified in the MIB. But it's a fact that many devices have shoddy MIBs that don't completely support all of their functions.
To know more about MIB visit: brainly.com/question/4094726
#SPJ4
What is a budget is a plan of action expressed in Mcq?
A budget is a plan of action expressed in monetary terms
A budget is a plan for accounting. It is a formal course of action that is monetary in nature. It could be interpreted as a statement of anticipated revenue and expenses under particular operating assumptions. It serves as a quantitative blueprint for action and a quantified roadmap for upcoming actions.
A budget is the total of all funds that are allotted for a specific goal or purpose, as well as a concise explanation of actual spending and a number of suggestions for how to achieve it. It is used by big businesses, the government, families, and other commercial organisations to develop measurable strategic plans for ongoing operations or significant events.
Read more about the budget on:
https://brainly.com/question/17198039
#SPJ4
What is the best way to use visuals effectively in a presentation use images that will be easy for the audience to see?
The correct option is A. Use images that are easy for your audience to see.
The best way to use visuals is to make them easily visible. Otherwise, it will not work visually and is not effective. It should not be too long, clutter the screen, or be too noticeable as it can be distracting.
The best way to use visuals is to make them easily visible. Otherwise, it will not work visually and is not effective. There are five ways to display information in your presentation:
Photos, charts, data, text and videos. Images have power. They humanize your message and help connect your ideas to your audience on an emotional level.
Infographics, posters, videos, memes - all of these can go viral if enough people share your content on social media and other online platforms. It is important to include logos, website links, and other relevant information so that the original source of the content can be easily identified.
Know more about content here:
https://brainly.com/question/29097231
#SPJ4
The complete question is:
What is the best way to use visuals effectively in a presentation?
A. Use images that will be easy for the audience to see.
B. Add long video clips that are packed with information.
C. Include as many visuals as possible on the screen.
D. Make sure the images are showy and entertaining.
What are the four basic channels for industrial goods?
answer choices
- Producer to industrial user
Producer to industrial distributor to user
Producer to agent to user
Producer to agent to industrial distributor to user
- No
- Yes
The four basic channels for industrial goods are Producer to industrial user, Producer to industrial distributor to user, Producer to agent to user, Producer to agent to industrial distributor to user. So the correct option is A.
In economy and business, Distribution generally can be defined as one of the four elements of the marketing mix. 6he process of making service available and also a product for the consumer or business user who needs it, and a distributor is a business involved in the distribution stage of the value chain can be used to described distribution process. Beside that, Distribution channels generally can be defined as the paths that products and services take on their way from the service provider or also manufacturer to the end consumer.
Here you can learn more about distribution channel https://brainly.com/question/15774206
#SPJ4
6.12 New HIM roles
A
B
G
Competency VI.1
As a student, you recognize that the HIM profession is in a perpetual state of growth, with new opportunities on the horizon, and you are trying to decide what HIM niche is the right fit for you. Use the AHIMA career map to explore one of those emerging roles in HIM.
1.Judge what additional skills or education you would need to qualify for the new role.
2.Next, go to the AHIMA website and find information on the HIM Reimagined strategy. Assess how that emerging HIM role and skills it will require correlate with HIM Reimagined.
HIM refers to Health Information Management.
What is HIM?
HIM stands for Health Information Management. It is an administrative practice that is focused on the collection, storage, and retrieval of patient data. This data is used to provide healthcare services to patients and to support the healthcare system. HIM professionals use their skills in coding, data analysis, and technology to ensure that patient information is secure and accurate.
New HIM roles
Judge what additional skills or education you would need to qualify for the new role:
Depending on the new HIM role, additional skills and/or education may be required. For example, if the role is in health data analytics, a degree in a related field and/or certification in data analytics may be required. If the role is in information security, additional certification in the security field may be required.
Next, go to the AHIMA website and find information on the HIM Reimagined strategy:
The AHIMA HIM Reimagined strategy focuses on leveraging the power of data to improve care and outcomes, developing innovative approaches to addressing the healthcare workforce, and advancing technology and analytics to achieve better health outcomes. Depending on the new HIM role, this strategy could be applicable. For example, a role in health data analytics could use data to improve health outcomes, while a role in information security could use technology and analytics to protect patient data.
Finally, research how the new role can impact patient care and the healthcare system as a whole:
The impact of a new HIM role on patient care and the healthcare system as a whole will depend on the specific role. For example, a role in health data analytics could be used to improve disease management and
To know more about Data analysis,
https://brainly.com/question/30156066
#SPJ4
A customer calls because she's having problems with her internet service. You're having trouble understanding each other due to a language barrier. What should you do?
If a customer is having trouble understanding you due to language barrier, you should ask if there is someone to translate.
If you are having difficulty understanding a customer due to a language barrier, try to remain patient and calm. Ask the customer if they can speak another language that you understand, or if they know anyone who can help translate.
You can also try using a language translation app or website to help bridge the communication gap. Additionally, it can be helpful to ask the customer questions in simple terms and use body language to help get your message across.
To learn more about customer, click here:
https://brainly.com/question/13472502
#SPJ4
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms?
If the insurer does not furnish forms to the insured after notice of loss has been given, the insured must contact the insurer to ask for the necessary forms.
What does Insurer mean?
An insurer is a company that provides insurance, which is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss. Insurers provide coverage in exchange for payment of a premium, which is determined by the frequency and probability of an event occurring.Insurers typically provide coverage for personal or commercial losses, such as property damage or liability due to accidents, medical expenses, or lost wages due to injury. They may also provide coverage for more unusual risks such as natural disasters, acts of terrorism, and even cyber attacks.
What is Commercial loss?
Commercial loss is the reduction in profits, revenue, or value of a business due to an event or series of events such as a natural disaster, an economic downturn, or a legal action. It can also refer to the costs associated with attempting to restore the business to its pre-loss state.Commercial loss can have a significant impact on a business, both financially and in terms of customer confidence. Businesses may be able to recover some or all of their losses through insurance claims or other legal proceedings. In some cases, however, businesses may be forced to close due to the severity of the loss.
To know more about Severity,
https://brainly.com/question/29432874
#SPJ4
Cash reconciliations can be tested via __________.
select either ; disclosure, observation , counting ,physical inventory , reperformance
It is important to verify ______ of both cash receipts and cash disbursements.
select either ; deviation, disclosure, consideration, cutoff, existence, payment
Cash confirmations need to be mailed under the control of the __________.
select either; bank, client, auditor, president, AICPA
Auditors are often concerned with the _______of cash, as this is where most misstatements occur.
select either; overstatement, understatement, existence, disclosure, inventory
Cutoff bank statements include activity for the period _______the period being audited.
select either; afer, overlapping, before, exclusive of , disclosing
Reperformance allows for the testing of cash reconciliations.
Complete the gaps
Reperformance can be used to test cash reconciliations.It is crucial to confirm the cutoff for both cash inflows and cash outlays.Under the auditor's supervision, cash confirmations must be mailed.Since cash overstatements are the most common source of errors, auditors frequently worry about them.Activity from the time after the period being audited is included in cutoff bank statements.Is the practice of reperformance testing thought to be effective for controls testing?The auditor could start a new transaction in order to duplicate the internal controls that the client used during this process. This is one of the audit sampling approaches for tests of controls that is regarded as the most reliable because it actively collects direct evidence rather than relying just on observation.
Which bank statement has been turned off?An after-the-balance-sheet publishing date bank statement is referred to as a "bank cutoff statement." When the majority of the outstanding year-end checks may clear the bank, the date should fall during that time.
Learn more about bank cutoff statement: https://brainly.com/question/29424016
#SPJ4