Answer:
Trough
Explanation:
Trough economic situation is when the recession is hardest and comes after the phase of contraction where growth slows, employment declines (unemployment increases), and pricing pressures subside.
Trough is characterized by large number of people being unemployed due to extensive layoffs by companies in order to cut down their costs and reduce their output during the period of economic decline
Answer:
Explanation:
(a). Audit Procedure (b) . Audit Objective
1.a Take note of trading/order paperwork with the pension (b). Existence of investment/accounts.
2a. Movement of funds within accounts. (b. Examine plan document for investment objectives
3a.make sure that investments agree with plan objectives and allowed risk level (b. Take note of current investment holdings
4a. Make sure that funds are held at updated market fair value(mark to market) (b. Take note of contracts, meeting minutes etc. Confirm that purchases/sales have been approved and falls into plan polices
5a. Extra examination of any significant plan holdings (b. Verify existence and appropriate value . This is important if the plan invest in non-public assets , example is assets are private, equity.
Answer: See explanation
Explanation:
Based on the information that was provided in the question, Pablo’s case with regards to the scenario given will be regarded as a civil case due to the fact that Drew is being sued.
The Federal court will be the court where the case will hold. This is due to the fact that the parties involved are from different states. While Pablo is from New Mexico, Drew is from California. For speeding, a criminal case can also be brought against Drew.
Answer:
D. Credit for $2.5 million
Explanation:
The depreciation expense to be recorded in the subsidiary individual accounts in respect of equipment is given below:
Depreciation expense to recorded in subsidiary accounts=$40 million/10
=$4 million
Since for the consolidated accounts we consider the fair value of the assets of the subsidiary and not the book values of assets, so for the purpose of consolidation, the depreciation expense of the equipment shall be recorded based on its fair value and not its book value in the following manner:
Depreciation expense to recorded in consolidated accounts=$15 million/10
=$1.5 million
Effect on consolidated depreciation expense= depreciation expense recorded in subsidiary accounts-depreciation expense recorded in consolidated accounts
Effect on consolidated depreciation expense=$4 million-$1.5 million
=$2.5 million
So based on the above calculation, the answer is D. Credit for $2.5 million
bust is the correct answer
