Primal Elements,Inc Is a New Company That Manufactures Unique Glycerin-Blend

question 91

Essay

Primal Elements,Inc is a new company that manufactures unique glycerin-blend soaps,which sell for between $7 and $9 a bar.The factory located in California in the United States has 55,000 square feet and 160 full time employees.The products are sold in 11,000 retail stores in 12 countries.2011 sales were $70 million.a.Assume you are the auditor in charge of the year-end physical inventory count for the factory.Describe what will happen during the physical inventory process;what does the client do;what does the auditor do?
b.Identify the assertions that you gather evidence for during the count and describe how you gather the evidence.c.What assertions still need to be tested after the physical count? How will you gather this evidence?

Understand the role of intention in the formation of legal contracts.

Distinguish between offers and invitations to treat.

Analyze contractual disputes and the principles for resolving them.

Recognize the significance of acceptance timing and communication in contract law.

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Definitions:

Standard Deviation

The measure indicating the amount of variation or spread in a set of data points relative to its mean.

Underlying Asset

The financial instrument (such as a stock, bond, commodity, or currency) upon which a derivative's value is based.

In The Money

A term describing an option contract that has intrinsic value, meaning it is profitable to exercise.

Underlying Stock Price

The prevailing market value of the stock that a derivative contract, like an option, relies on.