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Nataly [62]
3 years ago
5

Which of the following statements is more closely related to independence in fact, rather than independence in appearance? Multi

ple Choice a. Ownership of a financial interest in a client by an auditors’ spouse. b. The auditors’ actual state of mind and unbiased mental attitude. c. Employment of an auditors’ child in a position of influence within a client. d. Ownership of a financial interest in a client by an auditors’ distant relative.
Business
1 answer:
In-s [12.5K]3 years ago
3 0

Answer:

The correct answer is b. The auditors’ actual state of mind and unbiased mental attitude.

Explanation:

Independence warns a mental attitude that allows to express a conclusion without influences that compromise professional judgment, allowing an auditor to act with integrity, objectivity and professional skepticism. In addition, it requires apparent independence, avoiding facts and circumstances that are so relevant that a third party with judgment and knowledgeable, appreciating all the specific facts and circumstances, will probably conclude that the integrity, objectivity or professional or skepticism of the team member Audit have been compromised.

The IFAC conceptual framework is applied in order to identify threats such as: self-interest, self-review, advocacy, familiarity and intimidation in relation to independence, assess the importance of the threats that have been identified and whether It is necessary to apply safeguards instituted by the profession or by legal provisions or safeguards in the work environment to eliminate or reduce them to an acceptable level, if it is not possible to minimize the origin of these threats, the professional can terminate the audit assignment.

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How is health insurance different from auto insurance?
Bess [88]

While both types of insurance are required, if you do not have health insurance, you will be required to pay a fee on your taxes.

FYI, while this used to be true the United States has recently removed the requirement known as the "individual mandate" for people to have health insurance or face a penalty.

6 0
3 years ago
BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the m
kicyunya [14]

Answer:

market share

Explanation:

The market share of a product or business is the portion of the total market that it controls. Market share is usually measured as a percentage of the total market's sales. To calculate market share you need to divide your product's total sales by the market's total sales.

In this case, for every $100 sold by the total coffee market in San Francisco, BruceCo sells $1.

5 0
3 years ago
Comparative balance sheets for Pina Colada Corp. are presented as follows. Pina Colada Corp. Comparative Balance Sheets December
DerKrebs [107]

Answer and Explanation:

The Preparation of cash flows for 2020 using the indirect method is shown below:-

Cash flow from Operating Activities

Net income $134,100

Add: Adjustments to reconcile   net income

Add; Depreciation on property, plant  and equipment $25,000  ($66,250 - $41,250)

Less: Increase in Accounts receivable ($8,300)    ($84,350 - $76,050)

Add: Decrease in Inventory $7,750   ($180,500 - $188,250)

Less: Decrease in Accounts payable ($12,950)    ($33,400 - $46,350)

Net cash provided by  Operating Activities   $145,600

Cash flow from Investing Activities

Add:Sale of Land $24,850

Less: Purchase of equipment ($49,800)    ($249,600 - $199,800)

Net cash used in Investing Activities ($24,950)

Cash flow from Financing Activities

Issue of common stock $48,900

Less: Redemption of bonds ($50,700)

Less: Dividend paid ($68,300)

Net cash used in Financing Activities ($70,100)

Net increase in Cash and Cash Equivalents $50,550

Cash in the beginning of the period $22,400

Ending cash balance for the year $72,950

7 0
3 years ago
The systematic process of selecting, supporting, and managing a firm's collection of projects is called: Profile management. Hea
IceJOKER [234]

Answer:

Project portfolio management

Explanation:

Project portfolio management refers to managing the portfolios of the project i,e used by the project managers and the management who manages the project.

This is useful to analyze the risk and return in each project

Moreover, it is a process of choosing, supporting and managing the collection of firm projects in a systematic way

Hence, the third option is correct

4 0
3 years ago
Ginny, a licensee, uses a preprinted contract in Tim's purchase of a new loft apartment. There is a discrepancy in the contract
777dan777 [17]

Answer:

The handwritten clause generally supersedes the preprinted clause.

Explanation:

5 0
2 years ago
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