Answer:
D. The auditors cannot form an opinion on the fairness of presentation of the financial statements as a whole.
Explanation:
The issue of a disclaimer of opinion normally represent that the auditor could not able to form the opinion on the fairness of the financial statements that shows the financial position and the condition of the company.
He is not able to give his opinion for the company financial statements
So, the last option would be correct
And, the rest of the options would be incorrect
Voice is very important to connect your thoughts with the readers. If you want to get connected with your readers you should know their language. There are different types of voices such as you-voice, we-voice, I-voice and impersonal voice. All theses voices have their own use and purpose.
You-voice will force you to consider the needs and wants of your readers. You-voice is all about the needs and wants of the readers.
<span>they are almost as confident about their incorrect memories as they are about their correct memories.</span>
So you would need to set up a formula for this. 2,900 = .29(x)
Basically, 2,900 is 29% of what number.
To isolate x, divide both sides by .29 = 10,000
So the buyer would need to make 10,000 per month to qualify for the 29% rule. So their annual income would need to be 120,000
Answer:
Not only does IAS 2 norm allow this, also US GAAP allows this. I believe that the reasoning behind that is the following:
Holding precious metals in inventory is actually considered an investment. Precious metals are commodities, and since they can be easily traded around the world, just having them increases a company's wealth. The revenue recognition principle (top of the inverted pyramid) applies here even to any individual that finds gold nuggets by accident in the country side (no need to be a mining business). The fact that you possess gold increases your personal assets and net wealth. The same applies to other precious metals. This happens because gold or other precious metals can be easily converted into cash (extremely liquid), e.g. this same individual can go to a local jewelry or or a pawn shop and sell the gold nuggets he found.
If finding a gold nugget increases an individual's net worth, then imagine what holding a ton of gold does to a company. What makes gold and silver so special is that they are accepted everywhere. Remember that until the early 1970s, the worlds' currencies were based on the price of gold (gold standard). Most central banks in the wold hold gold reserves and they also follow this same logic. Price of gold increases, the wealth of the nation increases.
