4. PERT NETWORK. All audits have a critical path, but auditors seldom recognize it as such without the aid of network analysis. In the auditing of liabilities, the following activities and estimated times have been identified: 0-1 Obtain schedule of liabilities 2 1-2 Mail confirmations 12 2-6 Process confirmations 39 Investigate debit balances Vouch selected liabilities 6-7 5 1-3 64 3-4 Test accruals and amortization 4 Test pension plan Reconcile interest expense to debt Verify debt restriction compliance Review subsequent payments 1-4 4 4-5 5-7 5 7-8 10 REQUIRED: a. The PERT Network, identifying the critical path and including slack times.

Capital Budgeting with Taxes (Non-MACRS Depreciation); Sensitivity Analysis GravinaCompany is planning to spend $6,000 for a machine that it will depreciate on a straight-line basisover 10 years with no salvage value. The machine will generate additional cash revenues of $1,200 ayear. Gravina will incur no additional costs except for depreciation. Its income tax rate is 35%. Thepresent value annuity factor for 15%, 10 years (from Appendix C, Table 2) is 5.019.Required1. What is the payback period of the proposed investment (in years, and rounded to 1 decimal place) underthe assumption that the cash inflows occur evenly throughout the year?2. What is the accounting (book) rate of return (ARR) based on the initial investment outlay? Round youranswer to 1 decimal place (e.g., 13.571% = 13.6%).

7 In June 2005, IESBA issued a revised Code of Ethics for Professional Accountants. What does the term IESBA stands for? a. Internal Ethics Standards Board for Auditor b. Institutional Ethics Standards Board for Auditor c. Integrity and Ethics Standards Board for Accountants d. International Ethics Standards Board for Accountants Clear my choice

Discuss the meaning of the following two (2) risk management concept A). Risk tracking B). Risk reporting

CVP Analysis; Commissions; Ethics Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18% commission on sales; that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2019: Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2019 ($000 omitted) Sales $28,500 Cost of goods sold Variable $12,825 Fixed 3,500  16,325  Gross profit  $12,175  Selling and administrative costs Commissions $ 5,130 Fixed advertising cost 800  Fixed administrative cost  2,150  8,080  Operating income $ 4,095 Fixed interest cost 705 Income before income taxes $ 3,390 Income taxes (30%) 1,017 Net income $ 2,373 Since the completion of the income statement, Lionel has learned that its sales agents are requiring a 5% increase in their commission rate (to 23%) for the upcoming year. As a result, Lionel’s president has…

7. Why is the ability to forecast losses important for a risk manager?    Don't use chatgpt

Practical Activity: Do a short research project on the types of funds that fallunder the auspice of the Pension Funds Act. Identify well-known retirement funds that fallwithin these categories and obtain information about their registration in terms of thePension Funds Act.

Which of the following questions would an auditor likely include on an internalcontrol questionnaire for notes payable?(1) Are assets that collateralize notes payable critically needed for the entity’s continued existence?(2) Are two or more authorized signatures required on checks that repay notes payable?(3) Are the proceeds from notes payable used for the purchase of noncurrent assets?(4) Are direct borrowings on notes payable authorized by the board of directors?

Identify the Information System that would generate the type of report shown below. DOEJOE INC. STATEMENT OF OWNER'S EQUITY FOR MONTH OF AUGUST 21, 2022 JOHN DOE, CAPITAL, AUGUST 31, 2022 INVESTMENT DURING THE PERIOD NET INCOME FOR PERIOD SUBTOTAL WITHDRAWLS DURING THE PERIOD NET LOSSES FOR PERIOD JOHN DOE, CAPITAL, AUGUST 31, 2022 O a. Management Information System O b. Decision support system O c. Business Intelligence Dashboard Od. Transaction processing system 4,000.00 1,000.00 2,000.00 $ 7,000.00 2,000.00 $5,000.00

11. Is risk management transferring the risks to another entity? Why or why not?