During the external audit of Indico Ltd, which provides industrial maintenance services, the audit senior discovered that the operations director, with the approval of the other directors of Indico, had instructed employees to breach statutory health and safety regulations so that the company would benefit from cost savings. Explain the audit senior’s and the audit firm’s responsibilities in respect of this matter.

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.

Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?

When immigration adds to the size of the domestic labor pool, which of the following is likely to occur? a. wages decrease. b. productivity increases. c. consumption decreases. d. minimum wage increases.