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The Wireshark protocol analyzer has limited capabilities and is not considered multi-faceted.

20 questions , multiple choice

Question 1

1.       Which of the following statements is true?

[removed] The Wireshark protocol analyzer has limited capabilities and is not considered multi-faceted.
[removed] Wireshark is used to find anomalies in network traffic as well as to troubleshoot application performance issues.
[removed] Both Wireshark and NetWitness Investigator are expensive tools that are cost-prohibitive for most organizations.
[removed] NetWitness Investigator is available at no charge while Wireshark is a commercial product.

5 points   

Question 2

1.       Wireshark capture files, like the DemoCapturepcap file found in this lab, have a __________ extension, which stands for packet capture, next generation.

[removed] .packcng
[removed] .paccapnextg
[removed] .pcnextgen
[removed] .pcapng

5 points   

Question 3

1.       The Wireless Toolbar (View > Wireless Toolbar) is used only:

[removed] when using a pre-captured file.
[removed] when capturing live traffic.
[removed] when reviewing wireless traffic.
[removed] in a virtual lab environment.

5 points   

Question 4

1.       In the frame detail pane, which of the following was a field unique to wireless traffic, confirming that it is a wireless packet?

[removed] The Encapsulation type: Per-Packet Information header
[removed] The Arrival time: May 11, 2007 15:30:37 041165000 Pacific Daylight Time
[removed] The Capture Length: 181 bytes
[removed] The Epoch Time: 1178922637.041165000 seconds

5 points   

Question 5

1.       Which of the following tools provides information about the antennae signal strengths, noise ratios, and other antennae information during a captured transmission?

[removed] Windows Explorer
[removed] DemoCapture
[removed] Wireshark
[removed] NetWitness

5 points   

Question 6

1.       Which of the following can be used to map who is able to communicate with whom, the measured strength of signals, and what frequencies are used, as well as be used for jamming certain frequencies and for determining which devices were likely used to set off remote bombs and Improvised Explosive Devices (IEDs)?

[removed] MAC+PHY (MAC and Physical Layer)
[removed] IEEE Layer
[removed] Flags fields
[removed] Quality of Service information

5 points   

Question 7

1.       In the IEEE 802.11 Quality of Service information and Flags fields, Wireshark displays information about the __________, which enables the network administrator to determine which Media Access Control (MAC) addresses match each of them.

[removed] antennae and signal strength
[removed] transmitters and receivers of the data
[removed] payload and frame information
[removed] Domain System and Internet Protocol version

5 points   

Question 8

1.       In the lab, Wireshark displayed the transmitter/receiver address in both full hexadecimal (00:14:a5:cd:74:7b) and a kind of shorthand, which was:

[removed] IEEE 802.11.
[removed] GemtekTe_IEEE.
[removed] GemtekTe_00:14:a5.
[removed] GemtekTe_cd:74:7b.

5 points   

Question 9

1.       Matching the __________ to their appropriate transmitter and receiver addresses can provide the needed forensic evidence of which devices are involved in a particular communication.

[removed] MAC addresses
[removed] IP addresses
[removed] brand names
[removed] IEEE numbers

5 points   

Question 10

1.       Which of the following statements is true regarding the fields displayed in Wireshark?

[removed] There are hundreds of fields of data available and there are many different ways to interpret them.
[removed] There are a few dozen fields of data available but there are many different ways to interpret them.
[removed] There are very few fields of data available and most administrators will interpret them in the same or a similar way.
[removed] Although there are very few fields of data available, most administrators will interpret them differently.

5 points   

Question 11

1.       Which of the following is a packet capture add-on that is frequently installed with Wireshark that enables the capture of more wireless information?

[removed] 3Com
[removed] QoS
[removed] GemtekTE
[removed] AirPcap

5 points   

Question 12

1.       Regardless of whether the packet is sent through the air or on a wire, the ultimate payload in an investigation is:

[removed] information regarding the transmitters and receivers of the data.
[removed] detail about the Internet Protocol version.
[removed] a Domain Name System query.
[removed] evidence of any suspicious activity.

5 points   

Question 13

1.       In the lab, the DNS query indicated an IP address of __________ for www.polito.it.

[removed] 172.30.0.100
[removed] 130.192.73.1
[removed] 177.390.13.6
[removed] 172.30.121.1

5 points   

Question 14

1.       What is the actual Web host name to which www.polito.it is resolved?

[removed] web01.polito.gov
[removed] web01.polito.it
[removed] web01.polito.com
[removed] www.polito.com

5 points   

Question 15

1.       In order to use NetWitness Investigator to analyze the same packets that you analyzed with Wireshark, you first had to save the DemoCapturepcap.pcapng file in the older __________ format.

[removed] .libpcap
[removed] .tcpdump-libcap
[removed] .pcapng
[removed] .pcap

5 points   

Question 16

1.       Which of the following statements is true regarding NetWitness Investigator?

[removed] NetWitness Investigator is available for free so it is only used for some initial analysis.
[removed] NetWitness Investigator is often used only by skilled analysts for specific types of analysis.
[removed] Investigators with little training typically can capture needed information using NetWitness Investigator.
[removed] Wireshark provides a more in-depth, security-focused analysis than NetWitness Investigator.

5 points   

Question 17

1.       Which of the following statements is true regarding NetWitness Investigator reports?

[removed] NetWitness reports contain only low-level wireless information, such as command and control.
[removed] NetWitness reports do not provide the kind of sophisticated analysis that is found within Wireshark.
[removed] NetWitness and Wireshark both provide the same information but the two tools differ in how that information is displayed.
[removed] NetWitness is unable to provide information about the geographic location of the transmitter and receiver.

5 points   

Question 18

1.       Which of the following tools displays the MAC address and IP address information and enables them to be correlated for a given capture transmission?

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[removed] DemoCapture
[removed] Wireshark
[removed] NetWitness Investigator
[removed] Both Wireshark and NetWitness Investigator

5 points   

Question 19

1.       When you were using NetWitness Investigator in the lab, the Destination City report indicated that the Destination Organization of www.polito.it was recorded as:

[removed] Turin Polytechnic.
[removed] Politecnico de Tourino.
[removed] Republic of Italia.
[removed] Turin, Italy.

5 points   

Question 20

1.       Which of the following statements is true regarding the information in the Destination City report?

[removed] The Top Level Domain (TLD) “.it” belongs to Italy.
[removed] The Top Level Domain (TLD) “.it” is proofthat the Web site is physically located in Italy.
[removed] The Top Level Domain (TLD) was actually registered in the United States.
[removed] It indicates that it will be impossible to determine the actual physical location of the server
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Writers Solution

Holding the conference with the limited number of attendees would guarantee a loss of money as their expenses reached $27,450 and their attendees only contributed $6,950 leaving a loss of $20,500

Reply to material below with at least 250 words citation and reference

  1. The alternatives that are available to Anna and Ethan with regard to holding the conference are a). postpone the conference in hopes for more registries for the next event by researching why this one went south OR b). cancel the event all together OR c). holding the conference as is.
    1. Holding the conference with the limited number of attendees would guarantee a loss of money as their expenses reached $27,450 and their attendees only contributed $6,950 leaving a loss of $20,500.
    2. Canceling the conference means losing money as well since the cost of booking and cancellation fees and airline tickets include a maximum of $17,800.
    3. Rescheduling the event means a cash inflow of $109,600 subtracted by the operating expenses of $56,700 (hotel, planning, operating fees) leaving a profit of $52,900.
  2. The pros of holding the conferences as scheduled is getting some sort of satisfaction in knowing you might have a few loyal customers who would be happy that the event continued. The cons, however, are there will be lots of money lost and the conference would be very awkward with not many people showing up (potential tainted reputation).
  3. The pros of canceling the conference include the company saving money from not incurring costs by holding the conference. The company can focus their money, time, and energy on priorities within the company outside of the conference. The cons, however, include losing those “loyal” customers who were willing and ready to attend the conference.
  4. The pros of rescheduling the conference include holding a legitimate conference (after they go back and review what went wrong with the first one) which attracts many new customers and builds their company reputation and profit. Cons include the hotel company not letting you re-book as you cancelled the first time. Also, by rescheduling the event, the company must devote their time and energy towards a new event rather than devoting their time and money towards other affairs.
  5. As a short-term perspective, Flagstone should learn from this conference by understanding what went wrong the first time. Understanding why there were few registrations and how to make better marketing decisions in the future is key prior to rescheduling any event. Once Flagstone develops an idea of what went wrong, they can pin their eyes towards the future and long-term business decisions. Long term decisions should reflect on how to hold another event which does not repeat the same mistakes and does serve its purpose of attracting many customers. Flagstone needs to identify their weaknesses and build on their strengths in order for maximum success.

References:

Davis C. E., & Davis E. (2020). Managerial Accounting, Enhanced eText (4th ed.). John Wiley & Sons. ISBN-13: 9781119577669

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Writers Solution

AutoClick Limited (ACL) operates a used automotive sales garage in Accra with two categories of customers

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QUESTION ONE

AutoClick Limited (ACL) operates a used automotive sales garage in Accra with two categories of customers, namely Individual and wholesale Dealers. A whole sale dealer is a term used to describe another used automotive dealer who buys from ACL. All whole sale dealers are offered wholesale dealer discount. 

ACL also runs a vehicle trade-in policy whereby an individual customer who owns a vehicle can trade in their vehicle at a negotiated price.

Additionally, ACL add interior extras, such as Paint Touch-up, Undercoat, etc. and exterior extras such as wheel upgrades, new tires, etc., on the request of their customers at an additional cost.

Management requires an application that will manage the sale of its used vehicles.  You are tasked to develop this app, create a Visual Basic Application that will take as input for each vehicle its lot number, Make, Model, Year, Millage, Engine Capacity and Price. For each Extra its ID, Name, Type (interior or Exterior) and Price. For output the App will list all the vehicle in the garage, all the interior and exterior extras and generate a receipt for each purchase.

The app must also manage the sales of the vehicles and generate a sales receipt. Thus, a user should be able to search for a specific vehicle using their lot Number and when a vehicle is found the information about vehicle to be purchased will be inserted into a receipt by the click of a button. After the vehicle has been successfully inserted into the receipt, additional interior or/and exterior extras should/can be inserted into the receipt. If available, the trade-in vehicle and its price must also be added to the receipt.

Apart from that, for each receipt, the app must calculate and display their corresponding costs of each inserted item as well as the total cost of the transaction, the total discount granted, the total tax, amount taxable and the payable amount. The user should also be able to remove specific vehicles or extras from the receipt or/and clear all the items from the receipt by selecting them from the receipt and removing them by clicking a button. By clicking on the appropriate buttons the user should be able to save and print the receipt.

Finally, the app should be able to display a brief report in the form of total due for all sales, number of vehicles sold, and average total due per vehicle sold.

Application Use and Special Instructions

The application user will enter the lot numbers that identifies a vehicle, the year, and the vehicle make and model, Millage, Engine Capacity and Price for each vehicle in the garage and for each Extra its ID, Name, Type (interior or Exterior) and Price.

For output the App will list all the vehicle in the garage, all the interior and exterior extras and generate a receipt for each purchase.

Price and Trade-in: 

The price for a vehicle is entered as the vehicle information is being entered into the App. If the purchaser has a trade-in vehicle, the value of the trade-in is negotiated and this value is entered into the trade-in portion of the receipt.

If the purchaser does not have a trade-in, then the value “0.00” should display in the trade-in portion.

Discounts: 

If the buyer is another car dealership, then the application user will check the wholesale discount checkbox and this will give the purchasing wholesale dealer a 20% discount on the vehicle price only. 

Extras: 

Sometimes customers wish to have a used vehicle touched-up or have extras added prior to taking possession of the vehicle.  Extras are not included in the price and the customer pays extra according to the table given below.  For both Interior and Exterior Extras, the None RadioButton control should be checked as the default when the form starts up. 

Exterior Extras

Interior Extras

Item

Cost

Item

Cost

No exterior extras

₵0.00

New Tires

₵450.00

Paint Touch-Up

₵250.00

New HD Radio

₵190.95

Undercoat

₵300.00

Built-in GPS

₵700.00

Both

₵550.00

New Floor Mats

₵55.00

Add as many Exterior extras as possible

Add as many interior extras as possible

·         After lunching the App, the user will need to enter information about each of the vehicles in the garage.  This includes entering the lot numbers that identifies a vehicle, the year, and the vehicle make and model, Millage, Engine Capacity and Price, entering information for each extra including ID, Name, Type (interior or Exterior).

·         To conduct a sale the application users selects from among the list of vehicles and extras to add to a receipt. The app must not allow an extra into a receipt until at least one vehicle is inserted. When the a vehicle and extras is inserted into a receipt, the app must calculate: 

·         Subtotal:  use a function to compute this as the price less the amount of discount (if any) plus the cost of extras (if any).

·         Sales Tax:  Regular customers must pay a state sales tax on their purchase.  The tax rate is 5% and is computed on the subtotal.  Wholesale dealers purchasing a vehicle do NOT pay any sales tax.    This must be computed using a function.

·         Total due:  This is computed as the subtotal plus the sales tax less the value of the trade-in (if any).

·         Constants:  You must declare constants to store the wholesale discount rate, sales tax rate, and cost of exterior and accessory extras, as appropriate. 

·         Add remarks to the program as required.

·         Use the Round method as appropriate for calculations. 

Programming Events.

a.    Validating Data.  You must write code to enforce the business rules listed below

             i.        All data must be converted to the appropriate data type before and after use.

            ii.        All user inputs must be validate before they are passed to the program. Thus, all data entered into the GUI must first be checked for appropriateness and politely communicate directions to the user in the event the input in not appropriate.

           iii.        All output must be properly formatted

           iv.        The right control/object must be used to design the user interface (GUI) for input and output

                                                                                                                        [10 marks]

b.    Compute Button Coding. 

                                i.            Compute the wholesale discount using the discount rate when the wholesale discount Checkbox is checked; otherwise, the discount is zero.  The discount applies to the price only – extras are charged at the full rate.

                              ii.            Compute the cost of extras (hint: use a local accumulation variable to accumulate both exterior and accessory extra charges).

                            iii.            Compute the subtotal, sales tax, and total due.

                            iv.            Accumulate the grand total due (that is the total of all total due values) to a decimal variable. 

                              v.            Accumulate a count of the number of vehicles sold to an integer variable.

                            vi.            Use MenuStrip, ContextMenuStrip, DataGridView, TabControl controls for full marks.

                                                                                                                        [20 marks]

c.    Remove Item from Receipt Button Coding.

                      i.        User selects a specific item from receipt click of button/menuitem/contextmenuitem

                    ii.        Clear that item from the receipt

                   iii.        Update all output textboxes to reflect the new state of the receipt.

                                                                                                                        [10 marks]

d.    Clear Receipt Button Coding.

                      i.        Clear all data from the receipt

                    ii.        All output textboxes must be set to “0.00”).

                   iii.        Uncheck all CheckBox controls.

                                                                                                                                    [5 marks]

e.    Print Receipt Button Coding.

When the user click on the Print button/menuitem/contextmenuitem, the app will allow him/her to print out the receipt

                                                                                                                                    [5 marks]

f.     Save Receipt Button Coding.

When the user click on the save button/menuitem/contextmenuitem, the app will allow him/her to save the receipt to the computer in either MS word or Excel format.

                                                                                                                                    [5 marks]

g.    Totals Button Coding.

Display a message box that gives the total due for all sales, number of vehicles sold, and average total due per vehicle sold.

                                                                                                                        [10 marks]

h.    Exit Button Coding. 

When the Button is clicked, do not automatically close the form.  Instead, write code to only close the form if the application user responds Yes to the question shown in this figure.  The code should default the selection to the No button.

                                                                                                                                    [5 marks]

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Writers Solution

AutoClick Limited (ACL) operates a used automotive sales garage in Accra with two categories of customers, namely Individual and wholesale Dealers

AutoClick Limited (ACL) operates a used automotive sales garage in Accra with two categories of customers, namely Individual and wholesale Dealers. A whole sale dealer is a term used to describe another used automotive dealer who buys from ACL. All whole sale dealers are offered wholesale dealer discount.  

ACL also runs a vehicle trade-in policy whereby an individual customer who owns a vehicle can trade in their vehicle at a negotiated price.

Additionally, ACL add interior extras, such as Paint Touch-up, Undercoat, etc. and exterior extras such as wheel upgrades, new tires, etc., on the request of their customers at an additional cost.  

Management requires an application that will manage the sale of its used vehicles.  You are tasked to develop this app, create a Visual Basic Application that will take as input for each vehicle its lot number, Make, Model, Year, Millage, Engine Capacity and Price. For each Extra its ID, Name, Type (interior or Exterior) and Price. For output the App will list all the vehicle in the garage, all the interior and exterior extras and generate a receipt for each purchase.

The app must also manage the sales of the vehicles and generate a sales receipt. Thus, a user should be able to search for a specific vehicle using their lot Number and when a vehicle is found the information about vehicle to be purchased will be inserted into a receipt by the click of a button. After the vehicle has been successfully inserted into the receipt, additional interior or/and exterior extras should/can be inserted into the receipt. If available, the trade-in vehicle and its price must also be added to the receipt.  

Apart from that, for each receipt, the app must calculate and display their corresponding costs of each inserted item as well as the total cost of the transaction, the total discount granted, the total tax, amount taxable and the payable amount. The user should also be able to remove specific vehicles or extras from the receipt or/and clear all the items from the receipt by selecting them from the receipt and removing them by clicking a button. By clicking on the appropriate buttons the user should be able to save and print the receipt.

Finally, the app should be able to display a brief report in the form of total due for all sales, number of vehicles sold, and average total due per vehicle sold.

Application Use and Special Instructions

The application user will enter the lot numbers that identifies a vehicle, the year, and the vehicle make and model, Millage, Engine Capacity and Price for each vehicle in the garage and for each Extra its ID, Name, Type (interior or Exterior) and Price.  

For output the App will list all the vehicle in the garage, all the interior and exterior extras and generate a receipt for each purchase.

Price and Trade-in:  

The price for a vehicle is entered as the vehicle information is being entered into the App. If the purchaser has a trade-in vehicle, the value of the trade-in is negotiated and this value is entered into the trade-in portion of the receipt.

If the purchaser does not have a trade-in, then the value “0.00” should display in the trade-in portion.

Discounts:  

If the buyer is another car dealership, then the application user will check the wholesale discount checkbox and this will give the purchasing wholesale dealer a 20% discount on the vehicle price only.  

Extras:  

Sometimes customers wish to have a used vehicle touched-up or have extras added prior to taking possession of the vehicle.  Extras are not included in the price and the customer pays extra according to the table given below.  For both Interior and Exterior Extras, the None RadioButton control should be checked as the default when the form starts up.  

Exterior Extras Interior Extras

Item Cost Item Cost

No exterior extras ₵0.00 New Tires ₵450.00

Paint Touch-Up ₵250.00 New HD Radio ₵190.95

Undercoat ₵300.00 Built-in GPS ₵700.00

Both ₵550.00 New Floor Mats ₵55.00

Add as many Exterior extras as possible Add as many interior extras as possible

• After lunching the App, the user will need to enter information about each of the vehicles in the garage.  This includes entering the lot numbers that identifies a vehicle, the year, and the vehicle make and model, Millage, Engine Capacity and Price, entering information for each extra including ID, Name, Type (interior or Exterior).  

• To conduct a sale the application users selects from among the list of vehicles and extras to add to a receipt. The app must not allow an extra into a receipt until at least one vehicle is inserted. When the a vehicle and extras is inserted into a receipt, the app must calculate:  

• Subtotal:  use a function to compute this as the price less the amount of discount (if any) plus the cost of extras (if any).

• Sales Tax:  Regular customers must pay a state sales tax on their purchase.  The tax rate is 5% and is computed on the subtotal.  Wholesale dealers purchasing a vehicle do NOT pay any sales tax.    This must be computed using a function.

• Total due:  This is computed as the subtotal plus the sales tax less the value of the trade-in (if any).

• Constants:  You must declare constants to store the wholesale discount rate, sales tax rate, and cost of exterior and accessory extras, as appropriate.  

• Add remarks to the program as required.

• Use the Round method as appropriate for calculations.  

Programming Events.

a. Validating Data.  You must write code to enforce the business rules listed below  

i. All data must be converted to the appropriate data type before and after use.

ii. All user inputs must be validate before they are passed to the program. Thus, all data entered into the GUI must first be checked for appropriateness and politely communicate directions to the user in the event the input in not appropriate.

iii. All output must be properly formatted

iv. The right control/object must be used to design the user interface (GUI) for input and output

b. Compute Button Coding.  

i. Compute the wholesale discount using the discount rate when the wholesale discount Checkbox is checked; otherwise, the discount is zero.  The discount applies to the price only – extras are charged at the full rate.

ii. Compute the cost of extras (hint: use a local accumulation variable to accumulate both exterior and accessory extra charges).

iii. Compute the subtotal, sales tax, and total due.

iv. Accumulate the grand total due (that is the total of all total due values) to a decimal variable.  

v. Accumulate a count of the number of vehicles sold to an integer variable.

vi. Use MenuStrip, ContextMenuStrip, DataGridView, TabControl controls for full marks.

c. Remove Item from Receipt Button Coding.

i. User selects a specific item from receipt click of button/menuitem/contextmenuitem

ii. Clear that item from the receipt

iii. Update all output textboxes to reflect the new state of the receipt.

d. Clear Receipt Button Coding.

i. Clear all data from the receipt

ii. All output textboxes must be set to “0.00”).

iii. Uncheck all CheckBox controls.

e. Print Receipt Button Coding.

When the user click on the Print button/menuitem/contextmenuitem, the app will allow him/her to print out the receipt

f. Save Receipt Button Coding.

When the user click on the save button/menuitem/contextmenuitem, the app will allow him/her to save the receipt to the computer in either MS word or Excel format.

g. Totals Button Coding.

Display a message box that gives the total due for all sales, number of vehicles sold, and average total due per vehicle sold.

h. Exit Button Coding.  

When the Button is clicked, do not automatically close the form.  Instead, write code to only close the form if the application user responds Yes to the question shown in this figure.  The code should default the selection to the No button.

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Chief executive officer (CEO) of GYMZ Limited (GYMZ)

Your forensic accounting firm, HONEST Partners, has been engaged by the chief executive officer (CEO) of GYMZ Limited (GYMZ). GYMZ operates a series of precious metal mines throughout Australia. GYMZ is considering entering into a joint venture with another mining company, GOLDY Limited (GOLDY). As part of this joint venture proposal, GOLDY has provided GYMZ with its income statement for the last three financial years. GYMZ is concerned that GOLDY has manipulated aspects of its income statement to make it a more attractive joint venture partner. Based on the information in the table below, describe what forensic accounting tools (including interviews and financial analysis methods) you could use to reach a view about this allegation. For each of the tools you refer to, provide a critical analysis of their respective advantages and disadvantages [400 word limit] (15 Marks)

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Why has group action largely been limited to formal organizations?

http://www.wired.com/2015/10/how-black-lives-matter-uses-social-media-to-fight-the-power/

https://www.wired.com/2011/12/gladwell-vs-shirky/

http://www.youtube.com/watch?v=lhs6RyOMfUY

file:///Users/rohanallen/Downloads/week%208_shirky_ch2_2008a%20(3).pdf

After you’ve read the Shirky and read or watched the other reading or video you chose, write a response that draws on what you have read (be explicit in naming which pieces you are discussing). You can bring in any other recent examples that relate to Shirky’s points about group formation and what groups can achieve in this age of easy connection via social media and the internet. 

Include an image that relates to the topic in your blog post. Remember images you use should be CC-licensed, or otherwise licensed for your use, and properly credited. You may also use screenshots you create from social media.

Some ideas to consider:

You may use the following ideas as a starting place for your blog post:

  1. Toward the end of his chapter, Shirky poses two questions: “Why has group action largely been limited to formal organizations? What is happening now to change that?” What is new about the type of collective action he describes, and the way the groups are formed?
  2. Apply Shirky’s ideas about group formation to a current activist group or movement that you’ve been following (or are involved with). Make sure to analyze how the group came about, what happened along the way and what goals were achieved by comparing them to another reading or video of the week.

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Billabong International Limited and Fantastic Holdings Limited

AUDITING

WORD COUNT: 2500

REFERENCE: 15-20

REFERENCE STYLE: HARVARD

Context

This assessment requires to examine real-world case studies to evaluate reporting standards and determine whether appropriate audit opinion has been expressed under different circumstances and decide the appropriate treatment for subsequent events. This assessment requires student to download the last annual reports of two ASX delisted companies’ annual report (Billabong International Limited and Fantastic Holdings Limited) of year 2018 and 2019. Both above-mentioned companies have been signed off by their external auditors without qualification of the pending business status (delisted). There are differences in the amount of information published in the auditor’s report since BBG was audited by one of the Big Four accounting firm while FAN was audited by a non-Big Four accounting firm.

Structure

Each student is to investigate the following ASX listed entities and answer the questions in the requirements following the table below, Company name ASX Ticker Fantastic Holdings Limited FAN (until 2019) Billabong International Limited BBG (until 2019)

Requirement:

The main objective is to evaluate whether the auditor’s report fully complies with ASA 700s. Your discussion should cover the following points:

1. Appraise the information contents of the independent auditor’s report for BBG and FAN. Your discussions should refer to ASA 700s on compliances and usefulness of audit reports. (10 marks)

2. Evaluate if there are undisclosed subsequent events of the entities that may affect the estimates inherent in the financial report. (10 marks)

3. In your opinion, propose substantive testing of an account in BBG and FAN respectively that could enhance the sufficiency and appropriateness of audit evidence. The reference to a specific account in the company should be based on detrimental facts of the business internal or external environment that led to delisting from ASX. (10 marks) 4. Propose a new set of factors to be considered in going concern assessment for an Australian retailer firm during this period of Covid-19 Pandemic. (10 marks)

Some Helpful Websites and Resources

Australian Government Australian Securities and Investments Commission 2020, COVID-19 implications for financial reporting and audit: Frequently asked questions (FAQs) | ASIC – Australian Securities and Investments Commission, Asic.gov.au.

Adele Ferguson, 2016. Fantastic Furniture in turmoil. The Australian financial review, pp.The Australian financial review, 2016–02-01.

Anon, 2010. ACCC institutes proceedings against Fantastic Furniture, Spotlight and Smash over unlabelled bean bags. M2 Presswire, pp.M2 Presswire, 2010–12-20.

Anon, 2020. BILLABONG INTERNATIONAL LIMITED. Hoover’s Company Records, pp.Hoover’s Company Records, 2020–10-01.

‘Audit Evidence’ Like You’ve Never Seen It Before! n.d., www.youtube.com, viewed 14 April 2021, .

Billabong International Limited – Strategic SWOT Analysis Review. (2018). In GlobalData Company Profiles – Strategic SWOT Analysis Review. GlobalData plc.

Buchman, Thomas A & Collins, Denton, 1998. Uncertainty about Litigation Losses and Auditors’ Modified Audit Reports. Journal of business research, 43(2), pp.57–63. Page 4 of 7

Eden Estopace, 2015. Billabong kickstarts supply chain transformation. Enterprise Innovation, pp.Enterprise Innovation, 2015–01-12.

Hossain, Mahmud, Raghunandan, Kannan & Rama, Dasaratha V, 2020. Abnormal disclosure tone and going concern modified audit reports. Journal of accounting and public policy, 39(4), p.106764.

Introduction to Modified Audit Reports n.d., www.youtube.com.

Mark Ludlow, 2016. Former Billabong chief guilty of fraud after failed China gamble. The Australian financial review, pp.The Australian financial review, 2016–12-21.

Muñoz-Izquierdo, Nora et al., 2019. Is the External Audit Report Useful for Bankruptcy Prediction? Evidence Using Artificial Intelligence. International journal of financial studies, 7(2), p.20.

Myers, Linda A et al., 2018. Measuring the market response to going concern modifications: the importance of disclosure timing. Review of accounting studies, 23(4), pp.1512–1542.

Stock Delisted. Good or Bad!? n.d., www.youtube.com, viewed 14 April 2021, .

The Rise and Fall of Billabong n.d., www.youtube.com, viewed 14 April 2021, .

Zhang, Joseph H, 2018. Accounting Comparability, Audit Effort, and Audit Outcomes. Contemporary accounting research, 35(1), pp.245–276.

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Camille and Candie to form a limited liability company

Ron Cardigan, son of Camille and Ray (Camille’s first husband) has met with Camille and Candie to form a limited liability company designed to be a place where young future clothing designers can work as part of an internship before entering fashion design school. Ron contributes 40% of the capital, and Camille and Candie each contribute 30%. Because it was Ron’s idea, he assumes he will receive more of the profits than Camille and Candie. Further, his contribution was greater than each of theirs. Camille and Candie feel they should all split the profits equally, as everyone has a unique talent that is being brought forth to run the new business. A dispute over the profits arises, and ultimately a court has to decide the issue. Determine the following: What law will the court apply? In most states, what form a limited liability company will result? How could this dispute have been avoided in the first place? Assess fully. Justify your answer using information from your Reading and be sure to: Assess the laws that govern the limited liability companies [Uniform Limited Liability Company Act (ULLCA)]. Evaluate how these laws frame our scenario and how a court would rule. Conclude how Ron, Camille, and Candie could have avoided the dispute by creating an operating agreement and integrating operating procedures into a written agreement.Urgency

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The court will determine whether Ron, Camille and Candie are member-managed LLC or a manager-managed LLC. This is crucial for the court to determine because “most LLC statutes and ULLCA provides that unless the articles of organization specify otherwise, an LLC is assumed to be member managed”(Miller, 2013). If Ron, Camille and Candie are member-managed LLC, the decision making process requires majority vote. The member-managed LLC is the appropriate for this kind of partnership. Since the three had no agreement on how to share the profit. This means that the court will apply LLC laws that govern how a partnership business is managed including sharing of profit.

In the case of Uniform Limited Liability company Act, the court may not apply it because less than one fifth adopted the Act. Therefore………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

Reference

Miller, R. L. (2013). Cengage Advantage Books: Fundamentals of Business Law: Summarized Cases, 9th Edition. Cengage.

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Limited resources and cost increases of these programs

Many compensation professionals are faced with making decisions over which discretionary benefit programs they must eliminate because of the limited resources and cost increases of these programs. Looking at the discretionary benefits offered by your present or past organization determine which ones you would choose to retain and identify those which you would eliminate. Are these decisions based on the existing demographic composition of your workforce? Please explain your rationale for each. Cite at least two outside sources as references in your initial response. Read about limited resources and cost increases of these programs

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Discussion

Benefits to retain

Life and disability insurance: This is one of the benefits I will retain because when the employee is injured in the line of duty, the company will compensate(McCollum, 2014). Although this benefit is available in many third-party insurance companies, it is important to give assurance to the employee that incase of death or accident in their line of duty, they get compensated, thus minimizing uncertainty among the employees.

Employee assistance program, day care services, and wellness programs: These benefits are significant in the productivity of the employees. Studies have showed that employees cannot concentrate when they are not sure about the safety of their children. Similarly, unhealth employees are not productive(Bonache & Paz-Aparicio, 2015). Therefore, it is the responsibility of the employer to ensure that employees concentrated fully in their duties by providing assistance program, day care services and wellness program. These are part of the non-traditional benefits and compensation.

Medical and health benefits: This is one of the very crucial benefits that an employer can extend to the employees. A healthy staff is very productive(Noe, et al., 2017). Many studies have showed that many employees cannot afford good medication and it’s the prerogative of the employer to maintain a healthy working staff. Medical and health benefits is the biggest perk of any employee.

Benefits to eliminate

Transportation services: Instead of incurring a lot of costs in transportation, the company should consider paying commuter allowance. Transportation services is unnecessary cost and it eats into the profit of the company.Paid time off: I don’t find it necessary to an employee…………………………………………………………………………………………………

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The Revenue Cycle of XYZ Limited

 Assessment Title: Analysing an Accounting Information SystemASSIGNMENT DETAILS
The Revenue Cycle of XYZ Limited.
After finishing your Master of Professional Accounting, you started your accounting consultancy in Brisbane, Queensland, Australia. You got a high distinction in Strategic Information System and preferred to analyse the business processes, risks and internal controls. XYZ is one of your clients, and the CEO of XYZ is delighted with your services.1 The head of the accounting department is concerned about their revenue cycle. Therefore, he has recently contacted you to evaluate their revenue cycle. During the initial meeting, you elaborate him that conceptually, the revenue cycle is a recurring set of business activities and related data processing operations associated with providing goods and services to customers and collecting their cash payments. This definition reveals that the revenue cycle can be categorised into (1) sales order processing procedures (SOPP), and (2) cash receipts procedures (CRP). The SOPP and CRP of XYZ are elaborated below. Therefore, you requested the head of the accounting department to describe the SOPP and the CRP of XYZ Limited separately. This description is given below.
SOPP of XYZ Limited
The sales department receives the unstandardised sales order since customer orders are mailed, e-mailed or faxed to the sales department. The sales clerk first converts the unstandardised sales order into the standardised sales order. For this purpose, the sales representative requests the missing information, if any. When the order is received, the sales clerk checks the customer’s creditworthiness of the customer from his computer terminal. Three years ago, the sales clerk requested the accounting department to provide him with a list of customers whose account receivables are written off. The sales clerk is still using this information to check the creditworthiness of the customers. The sales clerk is using the same procedure to check the creditworthiness of the new customers.
The customer’s order is rejected if the customer’s credit is not verified. The sales order processing is started after the credit verification. In particular, the sales clerk records the approved standardised sales order in the sales order system through his computer terminal. A digital copy of the order is distributed to the warehouse and the shipping department terminals for further processing. The computer system automatically records the sale in the sales journal. The clerk reviews this entry and files the hard copy of the customer order in the sales department.
1 XYZ is a wholesaler of rafting and camping equipment that serves outdoor sports camping retailers throughout the Queensland.
As indicated above, the receipt of the digital sales order prompts on the computer terminal of the warehouse manager. Further, the stock release and the shipping notice are also accessible at the warehouse terminal. For further processing, the warehouse manager prints out the sales order, the stock release, and the shipping notice. Using the stock release copy, a warehouse clerk picks the selected items from the shelves and sends them to the shipping department along with the stock release and the shipping notice. The warehouse manager then updates the inventory subsidiary ledger and the general ledger control account from his computer terminal.
The shipping clerk receives the physical stock, the stock release, and the shipping notice from the warehouse manager. The shipping clerk matches them to the corresponding digital sales order displayed on his terminal. If everything matches, he prints out three hard copies of the bill of lading and a packing slip. The shipping clerk sends two copies of the bill of lading and the packing slip, along with the goods, to the carrier. The stock release copy and the shipping notice are sent to the accounts receivable department. The third bill of lading copy is filed in the shipping department.
Account receivable clerk receives the stock release and shipping notice from the shipping clerk. Then, the accounts receivable clerk manually creates a hard-copy invoice, which is immediately mailed to the customer. After mailing the invoice, the clerk uses information on the stock release to update the accounts receivable subsidiary ledger and general ledger from his computer terminal. After the records are updated, the clerk files the stock release and shipping notice in the accounts receivable department. Sometimes, the account receivable clerk reconciles the quantities from the sales order and adjusts the account receivables.
CRP of XYZ Limited
The payments of customers come directly to the general mailroom along with other mail items. The mail clerk performs the following tasks:
• Sorts the mail,
• Opens the customer payment envelope,
• Removes the customer’s check and remittance advice, and
• Reconciles the two documents.
To control the checks and remittance advices, the clerk manually prepares two hard copies of a remittance list. He sends one copy to the accounts receivable department, along with the corresponding remittance advices. The other copy of the remittance list accompanies the checks to the cash receipts department. Once the checks and remittance list arrive in the cash receipts department, the treasurer performs the following tasks:
• Reconciles the documents,
• Endorses the checks,
• Manually prepares three hard copies of a deposit slip,
• Updates the cash receipts journal and the general ledger from his computer terminal,
• Sends the checks and two copies of the deposit slip to the bank, and
• Files the third copy of the deposit slip and the remittance in the department.
The accounts receivable clerk receives the remittance list and remittance advice from the mailroom and reconciles these two documents. He then updates the accounts receivable subsidiary ledger and the general ledger. Then, account receivable files the two documents in the department.
Required
Based on the above information, prepare a report for the CEO of XYZ Limited to evaluate their revenue cycle. In your report, you need to include the following items:
1. The CEO asks you to start the report from five general risks involved in the revenue cycle of any business. Further, indicate the physical and IT control against each risk.
2. Describe potential internal control weaknesses in the sales order processing procedures and cash receipts procedures of XYZ Limited.
3. Discuss the potential risks associated with the internal control weaknesses identified in Section (2) above.
4. Based on Section (3) above, what types are frauds are possible. Hint: we have discussed different types of frauds in the interactive tutorial and lectures. Your discussion should be based on these contents.
ASSIGNMENT STRUCTURE
• Reference sources must be cited in the text of the report and listed appropriately at the end in a reference list using Harvard referencing style.
• Include a minimum of ten (10) references, at least five (5) from peer-reviewed journal relevant to the unit.
Word limit: 2000 words
The report should include the following components.
1. Executive Summary
The executive summary should be concise and not involve too much detail. It should make commentary on the main points only and follow the sequence of the report. Write the executive summary after the report is completed, and once you have an overview of the whole text.
2. Table of Contents
This needs to show a logical listing of all the sub-headings of the report’s contents. Note this is excluded from the total word count.
3. Introduction
Typically, the introduction is a short paragraph which includes background, scope and the main points raised in the order of importance. There should be a brief conclusion statement at the end of the introduction.
4. Main Body Paragraphs with Numbered Sub-headings
This section contains the detailed information which elaborates on the main points raised in the introduction. Each paragraph should begin with an exact topic sentence, then supporting
sentences with facts and evidence obtained from research and finish with a concluding sentence at the end.
5. Conclusion
This section contains a logical and coherent evaluation based on a thorough and objective assessment of the research performed.
6. Appendices
This section includes any additional explanatory information which is supplementary and/or graphical to help communicate the main ideas made in the report. Refer to the appendices in the main body paragraphs, as and where appropriate. (Note this is excluded from the total word count.)
Note: The report should be grounded on relevant literature, and all references must be cited appropriately and included in the reference list.
Marking Criteria
Weighting in
Marking criteria
Total Grades
The general risks involved in the revenue cycle, and the physical and
4%
IT controls against each risk.
The potential internal control weaknesses in the SOPP and CRP of XYZ
4%
Limited.
The potential risks associated with the internal control weaknesses in
4%
the SOPP and CRP of XYZ Limited.
The potential frauds in the SOPP and CRP of XYZ Limited. 4%
Presentation and Referencing. 4%
TOTAL Weight 20%
Marking Rubric
Excellent Very Good Good Satisfactory Unsatisfactory
(80-100%) (70-79%) (60-69%) (50-59%) (0-49%)
The general risks Present an excellent Present a very good Present a good Present a reasonable Present a weak or
involved in the discussion on the discussion on the discussion on the discussion on the inadequate discussion
revenue cycle, and the general risks involved general risks involved general risks involved general risks involved on the general risks
physical and IT in the revenue cycle, in the revenue cycle, in the revenue cycle, in the revenue cycle, involved in the
controls against each and the physical and and the physical and and the physical and and the physical and revenue cycle, and the
risk. [4 Marks] IT controls against IT controls against IT controls against IT controls against physical and IT
each risk. each risk. each risk. each risk. controls against each
risk.
The potential internal Correctly identify all Correctly identify most Correctly identify Correctly identify one Fail to identify the
control weaknesses in the potential internal of the potential some of the potential to two potential potential internal
the SOPP and CRP of control weaknesses in internal control internal control internal control control weaknesses in
XYZ Limited. [4 the SOPP and CRP of weaknesses in the weaknesses in the weaknesses in the the SOPP and CRP of
Marks] XYZ Limited. SOPP and CRP of XYZ SOPP and CRP of XYZ SOPP and CRP of XYZ XYZ Limited.
Limited. Limited. Limited.
The potential risks Correctly identify all Correctly identify most Correctly identify Correctly identify one Fail to identify the
associated with the the potential risks of the potential risks some of the potential to two potential risks potential risks
internal control associated with the associated with the risks associated with associated with the associated with the
weaknesses in the internal control internal control the internal control internal control internal control
SOPP and CRP of XYZ weaknesses in the weaknesses in the weaknesses in the weaknesses in the weaknesses in the
Limited. [4 Marks] SOPP and CRP of XYZ SOPP and CRP of XYZ SOPP and CRP of XYZ SOPP and CRP of XYZ SOPP and CRP of XYZ
Limited. Limited. Limited. Limited. Limited.
The frauds possible in Correctly identify all Correctly identify most Correctly identify Correctly identify one Fail to identify the
the SOPP and CRP of the frauds possible in of the frauds possible some of the frauds to two frauds possible frauds possible in the
XYZ Limited. [4 the SOPP and CRP of in the SOPP and CRP possible in the SOPP in the SOPP and CRP SOPP and CRP of XYZ
Marks] XYZ Limited. of XYZ Limited. and CRP of XYZ of XYZ Limited. Limited.
Limited.
Presentation and An extensive amount A broad range of An adequate range of An adequate range of Little or no peer-
Referencing. [4 Marks] of high-quality quality peer-reviewed peer-reviewed journal peer-reviewed journal reviewed journal
evidence from peer- journal references and references was references was references were
reviewed journal other sources was included and used to included and used to a included, and these
articles and other included and used support discussion. basic extent to support were rarely used to
sources was included effectively to support discussion. support discussion
and used effectively to discussion. effectively.
support discussion
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