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Alisiya [41]
3 years ago
10

The annual statements that have to be submitted at the end of each financial year must contain an overview of the internal audit

and the audit committee
Business
2 answers:
kykrilka [37]3 years ago
8 0

Answer:

It is not true.

Explanation:

The annual Statement that have to be submitted at the end of each financial year must contain the Financial Status of the company (the Assets and Liabilities, Expenses & Income, Debtors & Creditors) e.t.c.

The overview of the internal audit and the audit committee are special demands of the Board of Directors. The overview of the internal audit and the audit committee are usually demanded or accompany the yearly financial reports when there are suspicion of financial: misappropriations, mismanagement or graft.

levacccp [35]3 years ago
3 0

Answer:

False.

Explanation:

Audit committees play a vital role in the financial reporting system through their oversight of financial reporting, including the internal control over financial reporting (ICFR) and the external, independent audit process which includes financial statement.

Annual financial statements are financial reports based on a 12-month consecutive time period. The most common set of reports issued are the general-purpose financial statements that include a balance sheet, income statement, statement of retained earnings, and statement of cash flows.

They typically include four basic financial statements accompanied by a management discussion and analysis:

• A balance sheet or statement of financial position, reports on a company's assets, liabilities, and owners equity at a given point in time.

• An income statement—or profit and loss report (P&L report), or statement of comprehensive income, or statement of revenue & expense—reports on a company's income, expenses, and profits over a stated period. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period.

• A statement of changes in equity or statement of equity, or statement of retained earnings, reports on the changes in equity of the company over a stated period.

• A cash flow statement reports on a company's cash flow activities, particularly its operating, investing and financing activities over a stated period.

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A homeowner from State A hired a contractor from State B to build a vacation home for her in State C. The parties signed the con
Katen [24]

Answer:

The Home owner commenced the action in a state A court ( C )

Explanation:

The Defendant ( the contractor)  can decide to transfer the case from a state court to a federal court within the same state in which the case was filled by the The home owner  if the federal court has the Jurisdiction to rule on the case

Since the contract was signed in state A under the laws of the state the case is definitely a state case and the Homeowner's move to remand the case to a state court with the argument that the Federal court lacks proper Jurisdiction is in order. The court decision on the matter will be based on the fact that the Homeowner commenced the action in a state A court where the contract was signed.

6 0
2 years ago
Which of the following is likely to cause a decrease in the equilibrium U.S. interest rate, other things being equal? a. an incr
garik1379 [7]

Answer:

The correct answer is d. pessimistic economic projections that cause businesses to reduce expansion plans.

Explanation:

Economic projections are quantitative studies which seek to describe how the growth of an economy will be in a certain period of time towards the future. These are based on existing economic models, in addition to historical reports, to identify patterns in which they know where the economy will go.

This information is of great interest to different sectors, for example, investors will always be interested in knowing which sectors of the industry will grow in the future, to invest in shares of leading companies in that area; people are always eager to know how the economy will be, in order to decide if it is good time to spend or save; Well, governments can do these studies to find out if it is necessary to implement any program to prevent economic problems.

5 0
3 years ago
If buyers’ incomes increase, the demand curve will shift to the _____ and the prices will _____.
taurus [48]

Answer:

Demand curve will shift to the right, the prices will increase.

Explanation:

An increase in the income of the consumer of will cause the demand curve of the consumer to shift to the right. This rightward shift in the demand curve will cause the demand curve to intersect the supply curve at a higher point.  

As a result, the equilibrium price level and the equilibrium quantity will increase. A decline in the income, on the other hand, will cause both quantity and price to decline because of a leftward shift in the demand curve.

8 0
3 years ago
Oreo cookies are now extremely expensive to purchase. Instead of buying oreo cookies, i now want to buy chips ahoy. What determi
Tema [17]

In economics, the determinant of demand that this scenario fall under , when you go for chips ahoy because Oreo cookies are now extremely expensive is Change in Price of Substitute Good.

What is Substitute Good?

A substitute good  can be regarded as product or service that  is been used as alternative for other goods.

It should be When the price of a substitute good rise, then demand for the other substitute as well will rise.

  • This is referred to as  <u>positive cross price elasticity.</u>

Learn more about substitute good at:

brainly.com/question/10504938

8 0
2 years ago
Individual economize and respond predictably to
charle [14.2K]
Below are the choices that can be found elsewhere:

a. positive incentives, but not negative incentives.
b. negative incentives, but not positive incentives
.c. both positive and negative incentives.
<span>d. neither positive or negative incentives.

The answer is C. 

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

</span>
8 0
2 years ago
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