21. Suppose you are now a Founder and CEO of Rent the Dresses, Inc., an online rental site for premium dresses primarily for women. Because the business is a start-up, there is no accountant on the management team yet, so you have been doing the accounting. You notice that an average of 100,000 visitors come to your website, of which 60% browse through the website, 20% of them register and put at least one item in the shopping cart. One out of three registered customers actually checkout and pay for the items. Calculate the following (and show your work for partial credit!) a. Bounce rate b. Conversion rate Average monthly revenue, assuming AOV is $200. c. Barkeley is an audit manager at Los Pollos Hermanos, a large restaurant chain just outside er uses the backsides of old paper to make for customers upon payment. When asked about this, the manager responded that he just hen, Charles shift, journalizes the 22. Charles BCC. During his audit, he notices that a shift manag receipts wanted to help save some money and the environment by re-using used paper. T notices that the same manager counts the cash in the register at the end of the sales, and goes to the bank to make the deposit. Discuss which internal control principles have been violated and they should do to fix them. 23. Name and describe the four assumptions and the four principles of financial reporting according to the FAS8 Conceptual Framework 24. Name and discuss four different types of risks we learned in class. 25. Gus Fring is premium diamonds. His team is creating a flowchart to model a customer's shopping process. He and his team spent several days observing the steps that customers take to purchase a diamond, of Accounting Systems at Perfection Jewelry Unlimited, a global merchandiser of which are summarized below: a. Customer selects a diamond she likes from the catalogue b. She places an order for that diamond c. The sales associate checks the inventory database to see if the store has it d. If the store has it, then either the customer's credit card is charged or she pays cash e. If the store does not have it, then the customer is given two options: either she can wait a week for the diamond to arrive from the distributor, or she can cancel the order. f. If the customer pays, then she is given a receipt, and a picking slip is generated and sent to the distributor. Then, the distributor sends the diamond to the store via express mail. When the diamond arrives at the store, the customer is notified and she picks it up Create a flowchart based on the customer purchase steps outlined above