Answer:
The answer is Chief Executive Officer and and the Chief Financial Officer
Explanation:
As part of the requirements for audit process, the external auditor will obtain from the management a written representation for the financial statements being presented to the external auditor. The management is responsible for the preparation of Financial statement and the external auditor expresses their opinions on it.
To show accountability, The Chief Executive Officer and the Chief Financial Officer both sign on it.
Answer:
a.Perishable items must have an actual physical flow of FIFO
Explanation:
- Cost flow estimates are required to determine the cost of goods sold and to end inventory. Companies make some ump habits about what goods are sold and what items are listed (as a result of various accounting methods).
- Financial reporting and tax benefits and the actual movement of goods are not required to be accepted
- The continuous inventory system may have different end inventory and COGS yields compared to the periodic inventory system due to LIFO's calculation time and weighted average cost flow estimates.
- Reducing or exceeding the lower price of goods sold when prices fall or rise
Answer:
the pension obligation on the basis of the plan formula applied to years of service to date and based on existing salary levels
Explanation:
Accumulated benefit obligation (ABO) is the nearest amount that represent the liability pension plan of the company for the time period. It is predicted and depend upon the assumption that the pension plan would be ended on instant basis also it would not considered any increment in the future salary
So according to the options given, it would determined the pension obligation that based upon the plan formula and the same would be applied to service years also it would be depend upon the existing level of salary
Answer:
Compound interest (or combining interest) is that the interest on a loan or deposit calculated supported each the initial principal and also the accumulated interest from previous periods.
