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garik1379 [7]
3 years ago
14

Public companies under the jurisdiction of the Securities and Exchange Commission are required by law to hire a certified public

accounting firm (independent auditor) to assess whether their published financial statements are in compliance with Generally Accepted Accounting Principles (GAAP). This statement is:_______.
Business
1 answer:
skad [1K]3 years ago
7 0

Answer:

True

Explanation:

In case of the public companies who are in control of the Securities and Exchange Commission have a requirement to hire an independent auditor we can say Chartered Accountant (CAs) who give their views upon the financial statements that are published whether they are in compliance of Generally Accepted Accounting Principles (GAAP).

Based on this, the independent auditor give the qualified or unqualified opinion

Therefore, the given statement is true

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Compared to a perfectly competitive market, a natural monopolist will have a.) ______________ (higher / lower / either higher or
kipiarov [429]

Answer:

A). Lower

B). Lower

C). Higher

I think so not sure of my answer

7 0
2 years ago
Weighted Average Cost Flow Method Under Perpetual Inventory System
Fudgin [204]

Answer and Explanation:

The computation of the cost od merchandised sold for each sale and the inventory balance after each sale is presented in the attachment below;

The perpetual inventory is the system which updated the inventory as on a regular basis

While on the other hand,  the weighted average cost method is the method in which the average cost is calculated after each every purchase is made

In the calculation below:

1. The weighted average cost of $30.90 come from

= (Total inventory cost) ÷ (Total quantity)

= ($180,000 + $1,674,000) ÷ (60,000 units)

= $30.90

1. The weighted average cost of $31.60 come from

= (Total inventory cost) ÷ (Total quantity)

= ($463,500 + $674,100) ÷ (36,000 units)

= $31.60

6 0
3 years ago
Akers Company sold bonds on July 1, 20X1, with a face value of $100,000. These bonds are due in 10 years. The stated annual inte
Taya2010 [7]

Answer:

$76,620.83

Explanation:

According to the scenario, computation of the given data are as follows

Future Value (FV) = $100,000

Rate of interest = 10% yearly

Rate of interest (Rate) = 10%÷ 2 = 5% semiannually

Number of period (Nper) = 9 × 2 = 18

Face value = $100,000

Payment (pmt) = $100,000 × (6%÷2) = $3,000

By putting the value in excel present value formula, we get,

PV = $76,620.83

Attachment is attached below

6 0
3 years ago
For the following transaction, determine whether cash flows from operating activities will increase, decrease, or remain the sam
grandymaker [24]

In case collected cash from a customer is for services that will be performed in the next accounting period the cash flow from operating activities will increase.

The cash flow from operating activities will increase cash flow in the period of receipt itself as it will result in an increase in the cash balance of the organization  In case collected cash from a customer is for services that will be performed in the next accounting period.

If the balance of an asset will increase, cash float from operations will be lower. If the stability of an asset decreases, cash flow from operations will boom. If the balance of liability will increase, cash flows with the flow from operations will grow. If the balance of a liability decreases, cash flows with the flow from operations will decrease.

An accounting period, in bookkeeping, is the length with reference to which control accounts and economic statements are organized. In management accounting, the accounting length varies extensively and is decided with the aid of management. monthly accounting durations are common.

Learn more about accounting here brainly.com/question/26690519

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8 0
2 years ago
Product warranties, effects of environmental problems, and lawsuits are examples of transactions or events that give rise to
Rama09 [41]

Product warranties, effects of environmental problems, and lawsuits are examples of transactions or events that give rise to Contingency.

<h3><u>What is Contingency?</u></h3>
  • A contingency is the potential possibility of a bad event, such as a pandemic, economic downturn, natural disaster, fraud, or terrorist attack. The coronavirus outbreak that struck businesses in 2020 made many employees reliant on remote work.
  • Companies had to adopt a remote work strategy as a result. Working remotely wasn't an option for some organizations, though, and as a result, increased security measures for both employees and clients were put in place to stop the virus from spreading.

Although contingencies can be planned for, it is often impossible to predict the kind and breadth of such unfavorable events in advance. Businesses and investors conduct analyses and put defensive measures into place to prepare for potential possibilities.

Know more about Contingency with the help of the given link:

brainly.com/question/17275335

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4 0
2 years ago
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