. Knowledge of basic statistical concepts of 10 randomly selected engineers was measured on a scale of 100, before and after a short course in statistical quality control. This resulted in the data tabled below.

Researchers believe that the short course will improve test scores. They will analyze this with a hypothesis test. Give the details of the test

A computer random number generator was used to generate 750 random digits (0,1,...,9). The observed frequences of the digits are given in the table below.

Test the claim that all the outcomes are equally likely using the significance level α=0.05α=0.05.
The expected frequency of each outcome is E=

The test statistic is χ2=

The p-value is

Is there sufficient evidence to warrant the rejection of the claim that all the outcomes are equally likely?
A. No
B. Yes

Please Show work

1) A certain medical machine emits x-rays with a minimum wavelength of 0.025 nm. One day, the machine has an electrical problem and the voltage applied to the x-ray tube decreases to 74% of its normal value. Now what is the minimum x-ray wavelength produced by the machine?

?min = _________ nm

2) What is the maximum x-ray energy this machine (with electrical problems) can produce?

Emax = _________ eV

3) The atomic number of an element is 82. According to the Bohr model, what is the energy of a K? x-ray photon?

E = ___________ eV

1. Why is a cash account said to have a high inherent risk of possible fraud? Explain some of the controls related to cash accounts!

2. You are an auditor at a public accounting firm. You are conducting an audit for the financial year ending December 31, 2019. Your client has go public. This client is a property development company. Your client builds property in the form of apartment units, housing / real estate and also property investment products in the form of lots ready to build. In addition, this client also has a project development cooperation with its customers. The client is bound by a contract signed by both parties before a notary for the construction of a project with this customer. The project has not been completed 100%, however, the client says that the project has been completed 60% and the client acknowledges 60% of the development as revenue in the 2019 financial year.
Question:
a. In your opinion, as an auditor, what account should the client classify the apartment and housing / real estate complex be? Explain your answer!
b. What is the audit procedure that you will apply to ensure the recognition of revenue that is 60% of the project!
c. What audit evidence will you examine and what are the related assertions? Explain your answer!

3. You are an auditor at a public accounting firm. You and your team are entrusted by Partner to handle clients engaged in the home appliance retail business. Your client is a company that has go public. The client's financial statement in the previous year reported a loss, however this year reported a material gain. After you check, it turns out that the client reports income that is not much different from the previous year, however, there can be a profit due to the decrease in Cost of Goods Sold (COGS). The client reports that the amount of inventory has increased drastically, even though sales have not increased and the account payable balance is almost the same as in previous years, this has led to suspicion of a double counting scheme in the client's inventory. In addition, when a random check was carried out incidentally at one of the client's warehouses, it was found that many inventory were out of date but the client did not make adjustments.
Question:
a. If you wanted to perform an analytical procedure to check the suspected occurrence of this double counting scheme, what ratio would you calculate? Explain your answer!
b. What assertions are related to the above case? Explain your answer!

Subject : Financial Audit II

This relates to Subsequent Events for Audit

----

Tanners Ltd is a wholesaler of packaging products and you are about to complete the financial report audit for the year end 30 June 2015. Before you finalise your audit opinion you are considering some significant events that have recently occurred in Tanners Ltd.

Denners Ltd and Minners Ltd

Denners Ltd, a customer of Tanners, is suing the company due to being sold faulty packaging.

Denners is a food manufacturer and has claimed that as a result of unhygienic packaging supplied by Tanners it had to re-supply some products to its customers, pay them compensation for their losses and dispose of other products that were now unfit for sale. Denners has made a claim against Tanners for $450 000, which Tanners is disputing because the fault lay with a new machine recently purchased from Minners Ltd. The board of Tanners have indicated they do not intend to provide for any amounts payable to Denners as these will be recouped from Minners.

Factory fire

There was a fire at one of Tanners’ factories in late July 2015. Some machinery, raw materials and finished products were damaged in the fire. The insurance company was informed and an investigation showed that the factory supervisor was at fault by not following safety procedures, as a result the insurance company have refused to accept the claim.

Jonners Ltd

In August 2015, Tanners was informed by one of its long-standing customers, Jonners Ltd, that it was having going concern problems and that paying the amount owed to Tanners was going to be difficult. No amount has been received from Jonners since June. The directors of Tanners believe that it is not necessary to adjust the receivable balance at 30 June 2015 as Jonners has always paid them in the past.

Question:

What are auditors’ responsibilities for the events? (There's 3 events or scenarios)

1.

2.

3.

While attempting to measure its risk exposure for the upcoming year, an insurance company notices a trend between the age of a customer and the number of claims per year. It appears that the number of claims keep going up as customers age. After performing a regression, they find that the relationship is (claims per year) = 0.245*(age) + 8.873. If a customer is 45 years old, how many claims would you expect them to make in a given year?

Question 7 options:

Solarius Trading Company is considering lengthening its credit period from 30 to 50 days. All customers will continue to pay on the net date. The firm currently has $300,000 of sales per year, but believes that as a result of the proposed change, sales will increase to $360,000. Bad debt expense will increase from 3% to 5% of sales. The variable cost is 70% of sales. The firm has a cost of capital of 12%. Assume a 360-day year.

1. What is the incremental cost of investment in accounts receivable?
2. What is the incremental cost of the bad debts?
3. Should Solarius lengthen its credit period from 30-50 days?

A 1000 kg car has a maximum power output of 120 hp. How steep a hill can it climb at a constant speed of 74 km/h if the frictional forces add up to 600 N?

61. The law that specifically prohibits payments to foreign officials in order to attain business is known as ________.

Group of answer choices

A) FCPA

B )BICPA

C) SOX

D) IFRS

62. The managers of an organization are responsible for performing several broad functions. They are ________.

Group of answer choices

A)planning, controlling, and selling

B)directing, controlling, and evaluating

C)planning, controlling, and evaluating

D)planning, evaluating, and manufacturing

63. The stockholders of a company are:

Group of answer choices

A)the owners

B)responsible and liable for the financial well-being of the company

C)operating within the company as independent shareholders

D)policy setters

78. Variable costs are expenses that ________.

Group of answer choices

A) remain constant on a per-unit basis and remain constant in total regardless of activity level

B) remain constant in total regardless of activity level within a relevant range

C) remain constant on a per-unit basis but change in total based on activity level

D) decrease on a per-unit basis as activity level increases

64 Which of the following represents the components of the income statement for a manufacturing business?

Group of answer choices

A) Service Revenue - Operating Expenses = gross profit

B) Sales Revenue - Cost of Goods Manufactured = gross

C) Sales Revenue - Cost of Goods Sold = gross profit

D) Service Revenue - Cost of Goods Manufactured = gross profit