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Brilliant_brown [7]
2 years ago
12

the audit expectation gap is caused by unrealistic user expectations. what example would not be included in an unrealistic user

expectations?
Business
1 answer:
Tomtit [17]2 years ago
3 0

The audit expectation gap is caused by unrealistic user expectations. The auditors provides reasonable gap examples that would not be included in unrealistic user expectations.

NASBA believes the expectancy gap relating to fraud and going problems in a financial statement audit may be caused by a few factors: lack of knowledge by way of the general public as to what an audit is and what auditors do; inconsistent audit execution in these regions by some auditors due to lack of expertise.

The expectation hole exists while auditors and the public keep distinct beliefs about the auditors' obligations and obligations and the messages conveyed by way of audit reports. apparently, there's an opening between what the public expects and what it virtually receives.

Learn more about auditors here: brainly.com/question/26048609

#SPJ4

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Optimum Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been cl
denis23 [38]

Answer:

*** Cash $37,500

Explanation:

Optimum weight loss classified balance sheet .

Assets

Current assets

Cash $37,500

Account receivables $116,750

Prepaid insurance $7,200

Prepaid rent $21,000

Supplies $4,800

Total current assets $187,250

Non current assets

Equipment $474,150

Less

Accumulated depreciation $186,400

NBV $287,750

Land $300,000

Total non current assets

$587,750

Total assets

$775,000

Liabilities

Accounts payable $37,700

Salaries payable $9,000

Unearned fees $18,000

Total liabilities

$64,700

Equity

Common $75,000

Retained earnings $635,300

Total equity

$710,000

Total liabilities + equity

$710,300 + $64,700 = $775,000

6 0
3 years ago
Which of the following best describes goods production? (1 point)
sleet_krkn [62]

ANSWER: B) activities producing tangible products, such as radios, newspapers, buses, and textbooks

EXPLANATION: Goods production refers to the production of tangible articles from tangible raw materials as well as from intangible inputs such as ideas, knowledge and information, which will have a commercial value and will be beneficial for consumer use and exchange value. Such examples are Radios and Buses which are produced from tangible raw materials and Newspapers and Textbooks which are produced from Information and Knowledge gathered.

6 0
3 years ago
Read 2 more answers
Which document gives Congress the power to lay and collect taxes?
jarptica [38.1K]
The constitution is the correct answer
6 0
3 years ago
Jacqui decides to open her own business and earns $50,000 in accounting profit the first year. When deciding to open her own bus
Ira Lisetskai [31]

Answer:

C) $4,000

Explanation:

To calculate economic profit we can use the following formula:

economic profit = total revenue - (accounting costs + implicit costs) = (total revenue - accounting cost) - implicit costs

where:

  • accounting profit = total revenue - accounting cost = $50,000
  • implicit costs: ($20,000 x 5%) + $45,000 = $1,000 + $45,000 = $46,000

economic profit = $50,000 - $46,000 = $4,000

3 0
3 years ago
How to obtain finacial literarcy?
Leno4ka [110]

Answer:

Start keeping a budget

Explanation:

All of the financial guidance from experts won’t mean much if you don’t know where your money is going every month. Start tracking your spending and set up a budget using a simple spreadsheet or website apps.

4 0
1 year ago
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