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max2010maxim [7]
4 years ago
7

Lauren hires Humphrey, a CPA, to audit her financial statements. The engagement letter includes a statement acknowledging that a

udited financial statements are needed for a filing with a regulatory body. Humphrey completes the audit and issues an unqualified opinion. Based on the audited financial statements, Key Largo Bank approves a loan to Lauren. Four months later, Lauren files for bankruptcy. Key Largo Bank would most likely sue Humphrey claiming:
Business
1 answer:
klio [65]4 years ago
3 0

Answer:

it was a foreseen party

Explanation:

Key Largo bank would most likely sue Humphrey on the ground that it was a foreseen party. This is because Humphrey(CPA) being an auditor, knew that the audited financial statements are required for a filing with the regulatory body. Moreover, the auditing firm- Humphrey knew about the specific purpose of the audit report including the fact that his or her opinion(report) will will relied upon by other parties hence a foreseen third party for the auditor.

Based on the aforementioned, Key Largo Bank can sue Humphrey because he is aware of the intended purpose of the audit report.

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An F1 student must maintain full-time student status (minimum 7 credit hours in executive format). *Students who have completed
geniusboy [140]

Answer:

True

Explanation:

The requirement that an F-1 student must maintain a full-time student status is true.  F-1 students are academic students allowed to enter the United States as full-time students at some accredited colleges, universities, seminaries, conservatories, academic high schools, elementary schools, or other academic institutions or in a language training programs.  These students usually come with F-1 visas, which last for a maximum of five years, provided the student status is maintained.

8 0
3 years ago
What does the president consider to be the most important criterion when making political appointments to the bureaucracy?
andrew-mc [135]

Answer:

loyalty to the President

Explanation:

The President of the United States makes all the important political appointment of the bureaucracy to the Government offices. He does that appointing his favorite officials to the offices of the United States different federal agencies. One of the most important criteria that the President considers while appointing the bureaucracy officials is "loyalty to the President."

The President seeks those people who are loyal to him and follows every orders and advices of the President. The President keeps in mind that no one disobeys him and follows his order without any hesitations.

Thus the answer is "loyalty to the President."

7 0
3 years ago
Assume there is an increase in Government spending of $10 and the aggregate MPC is 0.8. Of the $8 of income that is received in
Rzqust [24]

Answer:

$50

Explanation:

For computing the amount which is spent on consumption, first we have to determine the multiplier spending which is shown below:

Multiplier spending = (1) ÷ (1 - MPC)

                                = (1) ÷ ( 1 - 0.8)

                                = 1 ÷ 0.2

                                = 5

And, the government spending is $10

So, the consumption amount spent would be

= 5 ×$10

= $50

3 0
3 years ago
Buying a Home Reading Quiz
Maru [420]
The answer is A , to always see who’s selling the property , Hope this helps
3 0
4 years ago
The EPA is responsible for setting and enforcing regulation related to
yawa3891 [41]

<u>Answer: </u>The EPA is responsible for setting and enforcing regulation related to the environment.

<u>Explanation:</u>

The acronym for EPA is Environmental Protection Agency. This is an independent agency which protects the environment from potential hazards. EPA sets the regulations in the country that protects the environment.The organisations has to follow the regulations to avoid any consequences.

The agency assess the environment and does research on the environment and impact on it.  The national environmental standards are maintained by the  agency. The agency is entitled to give sanctions and collect fines in the country.

3 0
4 years ago
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