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Question: The owner of Touring Inc., Mei Chang, is concernedabout the financial management of her company. When she started up Touring Inc., a companythat provides bus tours in Banff, Alberta, she hired Peter Rosen to manage the company. Chang isnot highly involved in the operations of her business since she is located in Toronto, Ontario. Shehas entrusted the management of Touring Inc. to Rosen. Chang recently received financial state-ments prepared by Rosen for the year ended 2012. She noticed that sales were quite high but thatnet income was very low. For instance, in July 2012, total sales were $6,800 but reported profitswere only $600. Chang is worried that Rosen is not being honest. What action should Chang taketo ease her mind?

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Accounting Basics, Accounting

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