Auditors consider fi nancial statement assertions to identify appropriate audit procedures. For
items a through f, match each assertion with the statement that most closely approximates its
meaning. Each statement may be used only once.

Assertion
a. Completeness
b. Cutoff
c. Existence and occurrence
d. Presentation and disclosure
e. Rights and obligations
f. Valuation

Statement

1. There is such an asset.
2. The company legally owns the assets.
3. All assets have been recorded.
4. Transactions are recorded in the correct
accounting period.
5. Assets are recorded at proper amounts.
6. Assets are properly classified.

Dahlia enterprises needs someone to supply it with 127,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you’ve decided to bid on the contract. it will cost you $940,000 to install the equipment necessary to start production; you’ll depreciate this cost straight-line to zero over the project’s life. you estimate that in five years, this equipment can be salvaged for $77,000. your fixed production costs will be $332,000 per year, and your variable production costs should be $11.00 per carton. you also need an initial investment in net working capital of $82,000. if your tax rate is 30 percent and your required return is 11 percent on your investment, what bid price should you submit? (do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration