Financial reporting objectives for companies, according to the conceptual framework, are based on user needs, to be used as a periodic assessment of organizational performance.
<h3 /><h3>Financial reports</h3>
Responsible for supporting organizational decision-making, their objective is to analyze, monitor and report the performance of an organization, to determine the financial health of the business, demonstrate transparency and assist in the decision-making process.
Therefore, financial reporting objectives are based on user needs, ie a company uses such reports to measure performance, determine projections, analyze resource utilization and make more effective decisions.
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Answer:
D. Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party.
Explanation:
An attestation engagement which could also reffered to as assertion- based engagement could be explained as a situation wheryby a third party is allowed to evaluate a subject matter by the clients.
It should be noted that CPA is engaged to: Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party.
Answer:
$1,333
Explanation:
The computation of the deprecation expense is shown below:
= (Original cost - residual value) ÷ estimated useful life
= ($23,000 - $3,000) ÷ 5 years
= $4,000
This $4,000 depreciation expense come for a year but the asset is purchased on September 1, 2019 and the books are closed on December 31, 2019
So, the four months depreciation expense would be
= Yearly depreciation expense × number of months ÷ (total number of months in a year)
= $4,000 × (4 months ÷ 12 months)
= $1,333.33
The four months is calculated from September 1 to December 31
Answer:
C. Solid Security Systems is liable for gender discrimination because it is unlawful to require one gender to work different hours or job positions for reasons not related to their ability
Explanation:
Answer:
sopomores= 0.0397
juniors= 0.1481
seniors= 0.2063
Explanation:
Giving the following information:
There are two teams of students:
Team A with 3 sophomores, 8 juniors, and 13 seniors. Total of 24 students.
Team B with 5 sophomores, 7 juniors, and 6 seniors. Total of 18 students.
First, we need to calculate the probability of selecting any student on each team:
Team A:
sophomores=3/21= 0.1428
juniros= 8/21= 0.3809
senors= 13/21= 0.619
Team B:
sopomores= 5/18= 0.2778
juniors= 7/18= 0.3889
seniors= 6/18= 0.3333
Now, we can calculate the probability of selecting the same type of students:
sopomores= 0.1428*0.2778= 0.0397
juniors= 0.3809*0.3889= 0.1481
seniors= 0.619*0.3333= 0.2063
