Answer: C. a bank loan due in 18 months.
Explanation:
Current liabilities include all the debt obligations that a company has in the current period.
This means that only debt obligations that mature within a year are to be considered current liabilities.
Bank loans that are due in 18 months are over a year and so have to be considered long-term liabilities not current liabilities.
Answer:
Option B
Explanation:
In simple words, The key responsibility of an institution's board of directors is to spend time to determine that every other board member is emotionally involved and interested in the company's objectives is invested well. When the board members are fully committed, they will become the strongest leaders, champions, strategists, and sponsors around the charity.
Thus, from the above we can conclude that the correct option is B.
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The components of audit engagement from the question are:
- Cost-benefit
- Circumvention
- designs
- application of controls
- control environment
<h3>The factors that increase inherent risks</h3>
- The integrity of the people that are in managerial positions.
- The experience and the effectiveness of managers.
- Pressures faced by management.
<h3>Factors that affect control risks:</h3>
- Presence of Novel situations
- The use of Outdated controls
- Improper separation of duties
Read more on inherent risks here: brainly.com/question/14538724
