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1 year ago

A refusal by a lawyer to furnish information related to litigation included in the letter of inquiry is likely to result in?

Business

1 answer:

otez555 [7]1 year ago

8 0

Qualification of the audit report.

A refusal by a lawyer to furnish information related to litigation included in the letter of inquiry is likely to result in Qualification of the audit report.

<h3>What is Qualification of the audit report?</h3>

When the scope of the auditor's job is limited or when there is a difference of opinion with management on the application, acceptability, or sufficiency of accounting policies, the auditor's report is qualified.
For auditors, a report must qualify an issue as material or as economically worthwhile.

<h3>What is an audit report with qualified opinion?</h3>

An auditor's qualified opinion states that, with the exception of a particular area, the financials are fairly reported.
A qualified opinion is typically still acceptable to lenders, creditors, and investors, unlike an unfavorable or disclaimer of opinion.

<h3>What exactly is qualified reporting?</h3>

An audit report that has qualifications is one that is not error-free.
The auditor may qualify his report if he has any concerns about particular processes indicated in the financial statements.

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When a company purchases another company and the purchase price is greater than the fair value of the net assets acquired, this

34kurt

Answer:

Goodwill

Explanation:

Goodwill is an intangible asset, reported on the balance sheet asset side. It is used yearly for the impairment tests.

When the company purchase another company and its purchase price is more than the fair value of the net asset so the excess amount would be called as a goodwill

The fair value of the net asset is come from subtracting the

= Company assets - company liabilities

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4 years ago

Trevor is watching a late night TV show when a low-budget commercial for a local restaurant comes on air. He is affronted by the

tangare [24]

Answer: Peripheral route.

Explanation:

Persuasion is the ability to convince one or more people about something, to think in a certain way, or to do something in particular.

The persuasion follows two routes; the central route, and the peripheral route:

The central route of persuasion occurs when the person is persuaded by the message received.
The peripheral route of persuasion occurs when the person is persuaded by something different than the message, such as how the message is presented.

In this case, Trevor was guided by what he saw to decide, so he followed the peripheral route of persuasion.

<em>I hope this information can help you.</em>

5 0

3 years ago

Tatham Corporation produces a single product. The standard costs for one unit of its Clan product are as follows:

Alla [95]

Answer:

$3,500 Unfavorable

Explanation:

The computation of variable overhead efficiency variance for Clan for November Year 2 is shown below:-

Variable overhead efficiency variance

= (Standard labor hours - actual labor hours) × (Standard variable overhead rate)

= (3,500 × 2 - 7,500) × $7

= (7,000 - 7,500) × $7

= $3,500 Unfavorable

Therefore for computing the Variable overhead efficiency variance we simply applied the above formula.

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3 years ago

Which of the following are true if you pay only the minimum amount each month towards your credit card bill?

Stels [109]

You will have a higher interest and will be in debt for longer

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4 years ago

Expenses recognition Sun Microsystems uses the accrual basis of accounting and recognizes revenue at the Lime it sells goods or

s2008m [1.1K]

Answer:

Sun Microsystems

Amount of Expenses to recognize during the months of June, July, and August in each of the following transactions:

a. Rent Expense = $30,000

b. Utility Expense = $4,650

c. Supplies Expense = $9,700

d. Property Taxes = $1,800

e. No expense is recognized.

f. Salary Expense = $4,500

g. Advertising Expense = $6,600

Explanation:

Data and Calculations:

a. Rent Expense = $180,000/12 * 2 = $30,000 Rent Prepaid $150,000

b. Utility Expense $4,560

c. Supplies Expense $9,700 ($12,600 - $2,900)

d. Property Taxes = $7,200 *3/12 = $1,800

e. No expense is recognized for the advance payment for delivery van.

f. Salary Expense $4,500

g. Advertising Expense $6,600

4 0

3 years ago