D is the ắner hope this helps
Answer: Neither A not B
Explanation:
When an accountant compiles the financial statements of a nonissuer in accordance with Statements on Standards for Accounting and Review Services (SSARS), the accountant's report should include a statement: that the accountant does not express an opinion on the financial statements.
When an independent CPA assists in preparing the financial statements of a publicly held entity but has not audited or reviewed them, the CPA should issue a disclaimer of opinion. In such situations, the CPA has no responsibility to apply any procedures beyond Documenting that internal control is not being relied on.
Answer: B. Rarely
Explanation:
It is rare to impossible to see a company's net income equal its net cash flow because both of them involve different variables. Net income for instance, involves both cash and non-cash variables while net cash flow contains only cash transactions.
The Net cash flow also incorporates transactions from financing and investing which are not in net income. It is essentially impossible for Net income to equal net cash flow.
Letter of credit that can be split up between many suppliers, each able to present their own documents for payment and allowing the trader to take his profits from the balance of the credit, is called Transferable Letter of Credit
.
Explanation:
Transferable Letter of Credit is a credit document in which the party can transfer the credit in full or partial to another beneficiary.
A transferable credit letter that enables a receiver to further pass all or part of the payment to another supplier in the chain or to some other receiver. This usually occurs when the recipient is merely a conduit to the actual supplier. Such LC allows the beneficiary to have their records, but to further pass the credit.
Answer:
$1,700,000
Explanation:
Contribution margin is the difference between the total sales and the total variable cost. Both sales and variable cost are functions of the number of units sold. As the number of units sold increases, so does sales and variable cost and vice versa.
The fixed cost is deducted from the contribution margin to get the pretax income.
Hence given
Sales = $3,200,000
Contribution margin = $1,500,000
Variable cost = $3,200,000 - $1,500,000
= $1,700,000
