If accounts receivable turnover (credit sales/receivables) was 7.1 times in 2009 compared to only 5.6 times in

Question:

If accounts receivable turnover (credit sales/receivables) was 7.1 times in 2009 compared to only 5.6 times in 2010, it is possible that there were

a. Unrecorded credit sales in 2010.

b. Unrecorded cash receipts in 2009.

c. More thorough credit investigations made by the company late in 2009.

d. Fictitious sales in 2010.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing And Assurance Services

ISBN: 9780073527086

7th Edition

Authors: William MessierSteven Glover

See More Books

Question Posted: May 06, 2024 07:00 AM

See More Questions

1. For the control activities to be effective, employees maintaining the accounts receivable subsidiary ledger should not also approve a. Employee overtime wages. b. Credit granted to customers. c....
Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
Draw a total setup outline and decide the expense for the most economical design, i.e., the one where the complete expense of the correspondences circuits and equpment is the least. (b) The...
In Exercises explain why Rolle's Theorem does not apply to the function even though there exist a and b such that (a) = (b). f(x) H [1,1]
Find the minimum of ((x, y) = x2 + y2 subject to the constraint g(x, y) = xy - 3 = 0.
Africa Traders is a registered VAT vendor and uses the periodic inventory system. Africa Traders buys and sells furniture and equipment for cash or on credit. On 1 March 2021, Africa Traders sold...
Consider the flow field represented by the velocity potential $\phi=A x+B x^{2}-B y^{2}$, where $A=1 \mathrm{~m} \cdot \mathrm{s}^{-1}, B=1 \mathrm{~m}^{-1} \cdot \mathrm{s}^{-1}$, and the...
1. Describe Cream Silks promotion within the context of the multi-attribute model. 2. Will the people who left with the positive attitude purchase the product? What other factors might influence...
The company XXY, SA has presented the following financial statements. Carry out an evaluation of your situation and its evolution. The company wants to request a loan from a financial institution and...
If the number of days' sales in accounts receivable (365 days/receivables turnover) decreases significantly, which of the following assertions for accounts receivable most likely is violated? a....
Smith Corporation has numerous customers. A customer file is kept on disk. Each customer file contains a name, an address, a credit limit, and an account balance. The auditor wishes to test this file...
1. What types of businesses would prosper in China? Why? 2. What are the challenges and risks associated with doing business in China? 3. What steps should Shippertake to address these challenges and...
Two cars collide at an icy intersection and stick together afterward. The first car has a mass of 1450 kg and is approaching at 9.5 m/s due south. The second car has a mass of 650 kg and is...
If a proposed capital investment offered a $10,000 annual cash inflow after depreciation and the initial investment was $100,000 a) what is the Average Rate of Return (ARR) of this capital project...
Suppose a speck of dust in an electrostatic precipitator has N p = 3.75 10 17 protons in it and carries a net charge of Q = -83 nC. Let q e represent the charge of an electron. Part (a) Enter an...
Given the function f, defined by f(x)=3x+2x-4, find f(x + a).
Consider a two-stage rocket with the following design characteristics First Stage Second Stage 7200.0 kg 5400.0 kg 800.0 kg 600.0 kg The specific impulse for both stages in 275s. Calculate the final...
Helium is throttled from 1.2 MPa, 20C, to a pressure of 100 kPa. The diameter of the exit pipe is so much larger than the inlet pipe that the inlet and exit velocities are equal. Find the exit...
What recommendations would you make to Big Four firms to help them (1) avoid confrontations with governmental officials in an authoritarian society and (2) deal effectively with such confrontations...
Read the below linked article. Comment on the article and what ways you think it is best for companies to come up with new ideas. https://www.entrepreneur.com/article/421375
1. Describe how the Project Zero team achieves process gains? What factors might create process losses for this team? 2. Describe how the three general types of taskwork are important to the success...
What are the key factors driving the rapid adoption of digital banking, and how are traditional banks adapting to the challenges posed by fintech startups?

If accounts receivable turnover (credit sales/receivables) was 7.1 times in 2009 compared to only 5.6 times in

Question:

Step by Step Answer:

Given the decrease in accounts receivable turnover from ...View the full answer

Auditing And Assurance Services

Students also viewed these Business questions