Answer:
Investment = 20,000
Return 2 = 5,000
Payment y3 = 8,000
Initial Investment = 20,000
NPV = -$5,881.89
Explanation:
Answer:
D. conservative
Explanation:
Historical cost method relates to recording of assets at their historical i.e original cost instead of recording them at their increased/revalued values.
Such a method ensures compliance with law of conservatism or prudence which simply states, "do not anticipate a profit, but provide for all possible losses".
Preparing financial statements based upon historical cost assumption ensures reliability and avoids overstatement of assets. This means investors, government and other stakeholders can place better reliance upon credibility of such financial statements.
Answer:
The answer is: D.) No, because the prohibited non-audit services were performed during the period covered by the financial statements.
Explanation:
The SEC states that auditors can not perform certain non audit services to an audit client:
- Bookkeeping
- Financial information systems design and implementation
- Appraisal or valuation services, fairness opinions, or contribution-in-kind reports.
Between 2013 and 2015, O&A performed the following services; bookkeeping and preparing monthly and annual financial statements. When RPB goes public in January 2016, it presented financial statements provided by O&A, so O&A can not be RPB's auditors.
Answer:
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