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accounting.. I would be needing an explanation for the answers below.. can someone help me?
accounting.. I would be needing an explanation for the answers below..
can someone help me?
:)
a.
Which of the following represents a correct statement concerning the risk of misappropriation of cash for SSC?
Deposit of cash into a lockbox system decreases the risk of misappropriation
b.
Which of the following correctly identifies a risk facing SSC that might adversely affect cash receipts during the coming years?
Sales to Wingo
c.
Which of the following correctly identifies a risk facing SSC that might adversely affect sales during the coming years?
A general slowdown in the economy.
d.
Which of the following correctly identifies a risk facing SSC that might affect its ability to continue as a going concern over the long run?
Competition from several competitors.
e.
Of the following, the most significant risk factor relating to the risk of misstatement arising from fraudulent financial reporting for SSC is that:
The company must refinance a significant portion of its debt
f.
In addition to the risk factor identified in the preceding question, another risk factor relating to misstatements arising from fraudulent financial reporting is:
Earnings this year are lower than management had hoped