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Multiple Choice Questions and Answers (Q&A)

It refers to the activities of a business related to buying and selling a product or goods. It includes finding out what consumers are demanding and determining whether it is possible to produce it at the right price.

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The most appropriate group to use to help provide evidence about the completeness assertion for accounts payable would be vendors with whom the entity has previously done business. Accounts payable refers to money owed by a business to its suppliers and is shown as a liability on the company’s balance sheet.

Accounts payable has a definite distinction from notes payable liabilities which refers to debts created by formal legal instrument documents. Accounts payable can also be defined as an accounting entry that is put in place to represent an entity’s obligation to pay off a short term debt to its creditors.

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Pls can you clear what is the questions? Or, explain the question once again?

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The name of the girl from the ring was Cathy. Toni Cade Bambara wrote the story. It dates back to 1971 and takes the perspective of a young black girl in North America. It is a short story about a black family who have to deal with some white government men. These men are treating them disrespectfully and invading their privacy.

It takes place in a rural area. The black family is self-sufficient and a hard working lot that has nothing to do with the white men but are still being bothered endlessly. It is a typical representation of the events of the day and a great read.

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D is the answer to this question. Do you know that the margin of error can be lessened when you increase your sample size? Just remember that you need to take note of the different factors that may affect your study. The alpha and the beta are going to be extremely important.

The alpha refers to the level of probability that can be accepted as true that is not due to chance. Beta, on the other hand, refers to the possibility of detecting a potential change if there is going to be changed based on what is being studied. A well-made and well-researched study can potentially provide the information that people need.

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Correct answer is option A
All the audit procedures listed above are methods to audit sales and accounts receivables, but the best method to uncover an understatement of sales and accounts receivables is to test a sample of sales transaction, selecting the sample from pre numbered shipping documents.

The auditor would select a sample of shipping documents and trace them into the sales journal to obtain evidence on whether all shipments have been recorded as sales transaction. With the use of audit software, the auditor can look for gaps in the recorded sales invoice numbers and verify that the missing numbers are appropriate and do not represent unrecorded sales.

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The marketing concept provides focus in both business firms and nonprofit organizations.

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The best audit procedure for the identification of unrecorded trade accounts payable is the option C. The best thing to do, is to review the cash disbursements that are recorded subsequent to the balance sheet date. This is done in order to determine whether the related payables apply to the prior period.

This is a concept in Finance, which is a very vast field and a sub-field of Business studies. Finance deals with the management of cash, and its flows in and out of an organization for various business purposes. Usually, finance majors are taught together with Accounting named as an Accounting and Finance course in many colleges.

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