business questions and answers

General Quizzes:

1.       If you are an auditor of ABC company and you are tasked to audit the Enterprise Resource Planning (ERP) of a business, make an audit plan with at least 3 Audit Procedures.

2.      Health Spa enters into a contract with a customer for one year of access to any of its health clubs at $100/month. The customer has unlimited use of the health clubs. Why does this arrangement satisfy Health Spa's entitlement to recognize revenue over time? 

3.      Discuss the External Environment Assessment/Audit (General' Environment and Porter's 5 forces for Axiata Group Berhad

  • Economic — GDP, inflation rate, unemployment rate, interest rate.
  • Political and legal — employment act — minimum wage issues, foreign labour, any act related to the industry. For example, if food industry —HACCP, halal certification.
  • Social-cultural — trends in the market, preference for a certain type of products, concern on health, concern on. environmentally friendly products — green Product, green process.
  • Technology — specific to an industry (may take some input from the company website as well as competitors' website)
  • Demographics — Department of Statistics — population growth, age range, -..any statistics that are relevant.
  • Natural Environment (technology related to product and processes that is focused on natural environmental sustainability).

4.      I am currently completing a master budget in my budgets am I to always round up when its not a full number for example $77.267 =$77.27 in the budget sheet.

5.      Ximena received a gift of $69564 from her rich aunt which she is investing at a rate of 3.1%. How much money will she have in 15 years, compounding monthly. Round your answer to the nearest $0.01.

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