The answer to this question is a material breach. A material breach is a breach of contract where in the other party failed to provide or perform what is needed in the contract. This also shows that the contract can no longer be completed.
Answer:
A. An inquiring mind and suspension of belief is the correct answer.
Explanation:
- Professional skepticism is an inquiring mind that includes critical evaluation, questioning, and staying alert to situations that may indicate possible error because of fraud and mismanagement and also an important evaluation of audit data.
- The elements of professional skepticism are questioning mind, autonomy, suspension of knowledge,interpersonal judgment, search for information, and self-esteem.
- Professional skepticism performs an important role in the audit and we need professional skepticism to maintain an audit of the expectation.
Answer: A
Explanation:
Management decisions by the ability to engage in proxy fights. A proxy fight, also known as a proxy contest or proxy battle, refers to a situation in which a group of shareholders in a company joins forces in an attempt to oppose and vote out the current management or board of directors. In other words, a proxy fight is a battle between shareholders and senior management for control of the company.
Corporate shareholders are best protected from incompetent management decisions by the ability to engage in proxy fights.
Answer:
Risk can be thought of as the possibility of incurring a loss.
Explanation:
Loss.
