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Llana [10]
1 year ago
10

when an auditor of financial statements has substantial doubt about an entity's ability to continue as a going concern, the audi

tor most likely would express a qualified or adverse opinion if:
Business
1 answer:
tangare [24]1 year ago
7 0

If information about an entity's ability to continue as a going concern is not disclosed in the financial statements, an auditor of financial statements is likely to express an adverse opinion.

<h3>Define a qualified or adverse opinion.</h3>

A remark made in an auditor's report that is attached to a company's audited financial statements is known as a qualified opinion. According to an auditor's judgment, a company's financial information may have been incomplete or there may have been a significant problem with how generally accepted accounting standards (GAAP) were applied, but the problem was not widespread.

With one or more exceptions, the financials often reflect the company's success and position. The financial statements are inaccurate or do not adhere to widely accepted accounting rules, in our opinion (GAAP).

To know more about qualified opinion, visit:

brainly.com/question/14310924

#SPJ1

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International market exchange, as well as the finance of multiples countries
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3 years ago
The projected benefit obligation was $460 million at the beginning of the year. Service cost for the year was $25 million. At th
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Answer:

The question is not complete:

Here is the complete question:

The projected benefit obligation was $460 million at the beginning of the year. Service cost for the year was $25 million. At the end of the year, pension benefits paid by the trustee were $21 million and there were no pension-related other comprehensive income accounts requiring amortization. The actuaries discount rate was 5%. The actual return on plan assets was $24 million although it was expected to be only $23 million.

What was the pension expense for the year?

Here is the answer: The pension expense is $25 million.

Explanation:

Pension is the form of defined benefit contribution plan which require employers to make certain periodic contribution on behalf of employees. This contribution is reported as an expense in the income statement if even though the benefit has not been enjoyed by the employees. To determine the value of this expenses to be included in the income statement, the components of the pension expenses are relevant.

Components of pension expense are service cost, interest cost, return on plan asset, amortization of prior service costs and gain or loss from change in asset value.

Here is the determination of the pension expense as required by the question.

                                                                            $`M

Service cost                                                          25

Interest ($460,000,000*5%)                               23

Expected return on plan asset                           (23)

Amortization of prior service costs                       -

Gain or loss in change in value                           <u> -</u>

Pension expense                                                <u> 25</u>

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3 years ago
Manual pipetting creates a musculoskeletal load on the neck, shoulders, and upper limbs. Which types of injuries can this lead t
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3 years ago
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An American office manager working in South Korea asks his subordinates to treat him as an equal. In South Korean culture there
Dennis_Churaev [7]

The office manager is experiencing a difference in hierarchical behavior

Explanation:

In South Korean culture there is a tradition of hierarchy. According to this tradition the bosses are treated as superior and the people working under him are treated as subordinates. According to the South Korean the subordinates should be given the order what they have to do. On the other hand the other countries have different rules, that is they do their work to live. In American culture they  can behave in any way they want to be.

4 0
3 years ago
g The $1,000 face value bonds of Trident Corporation have coupon of 5.5 percent and pay interest semiannually. Currently, the bo
Maslowich

Answer:

The answer is 5.73%

Explanation:

Given Coupon rate=5.5%; Years of maturity= 12years, Face value bonds= $1,000, Price=98.2

NPER= Years of maturity *2= 12*2=24

PMT= (Face value * coupon rate)/2= (1000*5.5)/2= 5500/2= 2.75

Therefore:

Rate = (NPER, PMT, -Price, Face value)= (24, 2.75, -98.2, 1000)= 2.87%

Yield to maturity= Rate *2= 2.87*2= 5.73%

6 0
3 years ago
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