subject
Business, 19.09.2019 05:00 bhhzd7499

For each of the following situations based on sab no. 101, indicate the audit evidence that should be obtained to determine whether revenue should be recognized or not in the current period: the company you are auditing, thomson telecom, maintains an inventory of telecommunications equipment. bayone telephone company placed an order for 10 new transformers valued at $5 million, and thomson delivered them just prior to december 31. thomson's normal business practice for this class of customer is to enter into a written sales agreement that requires the signatures of all the authorized representatives of thomson and its customer before the contract is binding. however, bayone has not signed the sales agreement because it is awaiting the requisite approval by the legal department. bayone's purchasing department has orally agreed to the contract, and the purchasing manager has assured you that the contract will be approved the first week of next year.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 11:20
Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year.a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs.b. calculate the eoq.c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?
Answers: 2
question
Business, 22.06.2019 12:10
The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:
Answers: 3
question
Business, 22.06.2019 22:00
Retail industry fundamentals credential exam,part 1 all answers
Answers: 3
question
Business, 23.06.2019 01:30
Why would adjusting the money supply be expected to increase economic growth during a recession? a) increasing the money supply will encourage more saving. b) increased money supply will encourage more spending and investment. co) decreased money supply will encourage more spending and investment. d) recession is caused by too much
Answers: 3
You know the right answer?
For each of the following situations based on sab no. 101, indicate the audit evidence that should b...
Questions
question
Mathematics, 15.04.2020 03:12
question
Arts, 15.04.2020 03:12
question
Biology, 15.04.2020 03:12
question
Health, 15.04.2020 03:12
Questions on the website: 13722360