Auditors may be inclined to accept client representations because of a natural bias to want <span>to trust the client.
Before doing the auditing process, auditor usually receive a small briefing from the management team on the financial system that they use in recording their transactions. </span>If these allowances had been used in the past the auditor<span> may have been inclined to accept them as regular business practices</span>
Answer:
$9.6 million
Explanation:
The amount Laramie would record in its books of account in respect of the land acquisition cost is the sum of the cash paid now and the notes payable .
That effectively gives acquisition cost of $9.6 million ($2.9 million+$6.7 million).
The interest payable on the notes payable of $6.7 million would be treated as expense in the income statement of years 2021 and 2022 respectively without being added to the acquisition cost since it is a revenue expense and should not be capitalized.
Answer:
3rd stage or Norming stage of group development.
Explanation:
3rd stage or Norming stage of group development.
In this stage responsibilities among group member is divided on the basis of their skills. During this stage members start to cooperate with other co members. A bonding among the members is start to developed which result in understanding each other contribution and identity. The main advantage of this understanding is that conflicts and misunderstanding issues has been resolved at faster rate.
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Answer:
<em>Need for Achievement.</em>
Explanation:
David McClelland and his colleagues developed the Needs / Achievement Motivation Theory theory of McClelland.
The theory suggests that three needs; <em><u>Need for Power, Success and Affiliation</u></em>-affect human actions.
The desire to succeed, to perform in comparison to a set of norms, to strive to achieve greatness is the need for achievement.
