Which of the following is not a typical analytical procedure?
A. Comparison of the financial information with budgeted amounts.
B. Comparison of recorded amounts of major disbursements with appropriate invoices.
C. Study of relationships of the financial information with relevant nonfinancial information.
D. Comparison of the financial information with similar information regarding the industry in which the entity operates.
Answer: B
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According to the hedging principle, fixed assets should NOT be financed with
A) permanent plus spontaneous financing. B) temporary financing. C) permanent financing. D) equity financing.
Termeer Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateVariable manufacturing overhead0.30 hours$2.30 per hour?The company has reported the following actual results for the product for August: Actual output 8,000unitsActual direct labor-hours 2,380hoursActual variable overhead rate$2.10per hourActual variable overhead cost$4,998 ?The variable overhead rate variance for the month is closest to:
A. $480 U B. $476 F C. $476 U D. $480 F
The Attorney General of the state of California wanted to study criminal law in Los Angeles last year. He randomly selected 46,000 criminal records from the population of 1.5 million convicts in Los Angeles last year. From this sample, he calculated the proportion of litigations, the average amount of money involved per litigation, and the proportion of litigations resulting in a conviction
These calculations are all examples of doing ____________________ statistics. Fill in the blank(s) with correct word
Frank loaned Emma $5,000 in 2016 with the agreement that the loan would be repaid in three years. In 2017, Emma filed for bankruptcy and, based on available information from the bankruptcy court, it was estimated that Frank could expect to receive $.65 on the dollar. In 2018, final settlement was made and Frank received $600.
a. Assuming the loan is a business bad debt, what is the amount of and the nature of Frank's deduction in 2017? b. Assuming the loan is a business bad debt, what is the amount of and the nature of Frank's deduction in 2018? c. Assuming instead that the loan is a nonbusiness bad debt, what is the amount of and the nature of Frank's deduction in 2017 and 2018?