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Tomtit [17]
3 years ago
14

When engaged to compile the financial statements of a nonissuer, an accountant should possess a level of knowledge of the entity

’s accounting principles and practices. This most likely will include obtaining a general understanding of the
A. Risk factors relating to misstatements arising from illegal acts. B. Design of the entity's internal controls that have been implemented. C. Stated qualifications of the entity's accounting personnel. D. Internal control awareness of the entity's senior management.
Business
1 answer:
NeTakaya3 years ago
7 0

Answer:

C. Stated qualifications of the entity's accounting personnel

Explanation:

According to my research of the steps that are usually taken when compiling the financial statements of a non-issuer, it can be said that the accountant should know the stated qualifications of the entity's accounting personnel. This is because they should know what the qualification are of the accountant that initially made all the financial statements to see if they actually knew what they were doing.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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If a retailer needed help with store design and training sales personnel, it would most likely use the services of a?
Jet001 [13]

If a retailer needed help with store design and training sales personnel, it would most likely use the services of a full-service wholesaler.

A service is "an act or use for which a consumer, commercial enterprise, or authorities is inclined to pay." Examples include paintings by way of hairdressers, medical doctors, lawyers, mechanics, banks, coverage organizations, and many others. Public offerings are paid for by society as a whole.

Lively occupation or role. b : Employment as a servant has started. 2a : work finished with the aid of good humans. b : assist, use, use like helping.

A service is a pastime or overall performance that constitutes a suggestion to any other individual this is intangible in nature and does now not bring about any possession. ”

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6 0
1 year ago
The buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freigh
Bas_tet [7]

Answer:

c,d and e

Explanation:

The correct statements given in the options are as stated below:

(c)-Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.

<em>This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped.</em>

(d)-When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.

<em>This is true because Free on Board shipping means that the seller bears no liability whatsoever once the goods are shipped, hence the shipping costs are the buyers responsibility and will form part of the costs of the goods</em>

(e)-Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.

<em>This is true because Free on Board destination means that the seller bears all liability whatsoever till the goods are delivered, hence the revenue for the goods can only be recognized upon successful delivery</em>

7 0
3 years ago
Select each of the tasks associated with opening a checking account.
garri49 [273]

Tasks associated with opening a checking account are:

  • Provide information such as name, address, date of birth, and Social Security Number.
  • Provide identification.
  • Deposit at least the minimum balance.
  • Sign an authorization card.

A checking account makes it simple to access your money for daily transactions while also keeping it safe. Typically, customers can pay their bills or make purchases using a debit card or a cheque. Different methods may be available for accounts to help avoid the monthly service charge.

A checking account's main function is to store your money in a safe location for a brief period of time, making it accessible when you need it to cover bills and other costs.

Customers who open checking account consent to make deposits into the account, and in return, the bank is obligated to carry out their payment instructions.

Before creating a checking account, it is important to weigh your options and find out whether or not the entity will charge you for maintaining the account and any related items. Being of legal age and fulfilling the conditions established by the chosen financial institution are the second prerequisites you must meet in order to open a checking account.

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5 0
2 years ago
Sales promotions that provide consumers an incentive to buy a product, such as a cents-off coupons or a discount, are widely use
Nady [450]

Answer:

it is challenging to track usage of the coupons

Explanation:

Coupons are defined as an instrument that is used to obtain a discount or rebate when making a purchase.

Stores usually give out coupons to customers as an incentive to by products.

However there will be challenge of tracking the coupons as well as the discount on each coupon.

Coupons are given at different discount rates at different times, so it is cumbersome to track a particular coupon out of the many issued when customer wants to redeem it

6 0
2 years ago
According to the numbers in the article Group of answer choices smoking among adults is elastic because the percent change in pr
nataly862011 [7]

Answer:

According to the numbers in the article

smoking among adults is inelastic because the percent change in price is less than the percentage change in quantity demanded.

Explanation:

Inelasticity means that price changes do not affect the demand for smoking among adults.  When the habits of consumers to smoke are not determined by the change in the price of the item, the demand is described as inelastic.  In other words, a change in the price of the good or service does not generate a corresponding change in the quantity demanded. Inelasticity, as an economic term, states that the quantity demanded of a good or service remains static when there is a change in its price.

5 0
2 years ago
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