Which of the following statements is true regarding the concept of detection risk? a. after assessing inherent and control risk and determining the level of acceptable audit risk, the auditor determines detection risk. b. detection risk is under the control of the auditor, and the level of audit effort that the auditor expends on the engagement depends on the level of detection risk. c. when the risk of material misstatement is higher, detection risk is lower in order to reduce audit risk to an acceptable level. d. the auditor controls detection risk through the nature, timing, and extent of substantive audit procedures. e. all of the above are true

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.

Which completes the equation? o + a + consideration (+ = k legal capacity legal capability legal injunction legal corporation

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?