The aicpa's statements on auditing standards can be described as

1 answer:

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<span>The AICPA’s Statements on Auditing Standards is a guideline for auditors. This guideline shows what the minimal standards are in order for an auditor to perform their work correctly. These guidelines need to be followed in order to ensure accuracy and efficiency.</span>

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Choose the correct statement about audits of corporations:

Furkat [3]

Answer:A. Public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP.

Explanation:GAAP(Generally accepted accounting principles) is a body saddled with the response of ensuring that financial statements are prepared based on certain principles which includes the following.

OBJECTIVITY, MATERIALITY, CONSISTENCY AND PRUDENCE. All public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP which regulates Their Financial statement and reports.

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3 years ago

Realignment occurs when a reasonably stable pattern of party support based on a particular set of important issues is replaced b

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That statement is true.

In our political environment, we will notice that a political part will have the tendency to support certain sets of principle.
In democratic part for example, has the tendency to put more government involvement in economy while Republican party, on the other hand, has the tendency to put less government involvement

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3 years ago

Juniper company uses a perpetual inventory system and the gross method of accounting for purchased. the company purchase $9,750

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Due to the return of merchandise Juniper Company needs to shift some numbers around to make sure the correct journal entry is in place. To do so, Juniper Company will debit $1,500 from Accounts Payable. Next, they will place a credit to of $1,500 to Merchandise Inventory.

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3 years ago

Read 2 more answers

When a company purchases a new computer for the business with cash, __________. (choose 2)?

SpyIntel [72]

An asset is credited
an asset is debited

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4 years ago

Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent case

muminat

Answer: a.19.59% b.15.11%.

Explanation:

Average tax rate is given as the total tax paid divided by total taxable income which is expressed as a percentage and must be less than the marginal tax rate.

Chandler is single and reports

taxable income of $132,200.

Tax liability: 25,903

Marginal rate: 24 %

Average rate: 17.94 x % = wrong

Average rate = total liable tax/ total income= 25, 903/ 132,200=0.195937 rounded to 0.1959

0.1959 x 100 = 19.59%.correct

b. Lazare, a head of household, records

taxable income of $80,600.

Tax liability: 12,176

Marginal rate: 22 %

Average rate: 12.30 X %= wrong

Average rate = total liable tax/ total income= 12,176/ 80,600= .0.15106= 0.1511

0.1511 x 100 = 15.11%.correct.

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3 years ago