Consider this scenario: You are performing specific item testing over accounts receivable balances for a large airline parts manufacturer. Due to the bespoke nature of the parts sold, the entity sells the majority of its products to a handful of companies worldwide. The total accounts receivable balance subject to testwork is CU4,800,000. PM has been established at CU1,500,000. Based on the information provided which selection criteria would you use? Select all invoices over CU400,000 which leaves an untested population of CU1,600,000. Select all invoices over CU50,000 which leaves an untested population of I zero. Select all invoices over CU250,000 which leaves an untested population of CU840,000. Select all invoices over CU550,000 which leaves an untested population of CU2,400,000.

Your Audit team is preparing to audit a new client in the electronic retail industry. The client imports items from manufacturers in several Asian countries and retails in a chain of shops located throughout the country.  You and your team members have access to the client's following information. ·         Prior period financial reports ·         Anticipated results for the current year ·         Industry Averages Required: Explain how you would use the information to understand your new client.

The audit team is preparing to audit a new client in the toy retail industry. The client imports items from manufacturers in several Asian countries and retails them in a chain of shops located throughout the country. You have access to the following information for the client: prior period financial reports anticipated results for the current year industry averages. Required: Explain how you would use the information to understand your new client.

Ohio Logistics manages the logistical activities for firms by matching companies that need products shipped with carriers that can provide the best rates and best service for the companies. Ohio Logistics is very concerned that its carriers deliver their customers material on time, so it carefully monitors the percentage of on-time deliveries. The following table contains a list of the carriers used by Ohio Logistics and the corresponding on-time percentages for the current and previous years. a. Sort the carriers in descending order by their current years percentage of on-time deliveries. Which carrier is providing the best service in the current year? Which carrier is providing the worst service in the current year? b. Calculate the change in percentage of on-time deliveries from the previous to the current year for each carrier. Use Excels conditional formatting to highlight the carriers whose on-time percentage decreased from the previous year to the current year. c. Use Excels conditional formatting tool to create data bars for the change in percentage of on-time deliveries from the previous year to the current year for each carrier calculated in part b. d. Which carriers should Ohio Logistics try to use in the future? Why?