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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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Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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6 0
4 years ago
On January 1, year 8, Derek Co.’s defined benefit pension plan had plan assets with a fair value of $750,000, and a projected be
alexdok [17]

Answer: $27,000

Explanation:

Amortization of prior cost = (No. of employees / Total number of years left) * Unamortized prior service cost

Total number of years left:

2 employees are each expected to have 9 years remaining = 2 * 9

= 18 years

3 employees are each expected to have 6 years remaining = 3 * 6

= 18 years

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= 4 years

Total number of years = 18 + 18 + 4

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8 0
3 years ago
A firm expects to earn $10,000,000 in cash in 2018. The firm also expects to increase its cash earnings by 2% each year in perpe
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Answer:

$181,818,181.82

Explanation:

The computation of the current value of this firm is shown below:

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In order to find out the current value, we considered all the given information that are mentioned in the question

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function is more important than its value. hope this helps mark me brainliest

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