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ziro4ka [17]
3 years ago
8

What are some major factors that have contributed to the recent increase in the number of lawsuits against auditors and the size

of awards to plaintiffs?
Business
1 answer:
telo118 [61]3 years ago
7 0

Answer and Explanation:

There are several reasons why the number of lawsuits against auditors and the size of awards to plaintiffs has increased. Mainly, <em>Certified Public Accountant (CPA) firms are most likely to solve legal issues with companies in front of inaccuracies in audits without a judicial process</em> to avoid the fees, possible penalties they will have to take charge if found at fault. Thus, more lawsuits are created under that situation because those practices are not considered legal even if the plaintiff decides to come up to a resolution that way. This is because firms could still be operating unethically unless the law enforces laws in their operations.

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The LIFO inventory cost flow assumes that the cost of the newest goods purchased are: A. assumed to be the first ones sold. B. a
Nonamiya [84]

Answer: A. assumed to be the first ones sold.

Explanation:

Last in, first out is a method that's used in inventory such that the items that are produced recently will be the ones that will be sold first.

Using this method means that the goods recently produced or bought will be the first to be sold and recorded as cost of goods sold. This therefore means that the report on the inventory will be the lower cost of the old products.

Therefore, the LIFO inventory cost flow assumes that the cost of the newest goods purchased are assumed to be the first ones sold.

6 0
3 years ago
A third-grade class spends several weeks learning how to solve story problems (e.g., a girl buys three candy bars for 66 cents a
r-ruslan [8.4K]
The answer is near transfer. This is connected a similar way every time the abilities and information are utilized. Close exchange preparing for the most part includes assignments that are procedural in nature, that is, errands which are constantly connected in a similar request. Despite the fact that this kind of preparing is less demanding to prepare and the exchange of learning is normally a win, the student is probably not going to have the capacity to adjust their aptitudes and information to changes.
4 0
3 years ago
PNW, LLC purchased equipment, a building, and land for one price of $6,050,500. The estimated fair values of the equipment, buil
umka2103 [35]

Answer:

$4235350.

Explanation:

Given: Estimated fair value of the equipment= $1000000.

           Estimated fair value of the building=     $7000000.

           Estimated fair value of the land=           $2000000.

           One Purchase price of equipment, building and land= $6050500.

First finding the allocated percentage share of building.

Total amount shared by building, land and equipments= \$ 1000000+\$7000000+\$ 2000000

∴ Total amount shared by building, land and equipments= \$ 10000000

Allocated percentage share of building= \frac{Estimated\ fair\ price\ of\ building}{Total\ amount\ shared} \times 100

⇒ Allocated percentage share of building= \frac{7000000}{10000000}\times 100

∴ Allocated percentage share of building= 70\%

Now, calculating amount would the company record the building.

Amount recorded for the building= 70\% \times \$ 6050500

⇒ Amount recorded for the building= \frac{70}{100} \times 6050500

∴ Amount recorded for the building= \$ 4235350.

Hence, amount that company would record for building is $4235350.

8 0
3 years ago
A characteristic of FICA is that:
stepladder [879]

Answer:

The correct answer is letter "A": None of these.

Explanation:

The Federal Insurance Contributions Act (FICA) is a U.S. law that requires a paycheck deduction to be paid to Social Security and Medicare. Employers and employees share half the payments. Self-employed people are responsible for the entire tax amount.

8 0
2 years ago
Which of the following items determine your preference for a concert ticket?band
andriy [413]
Here are the factors that determine preference for a concert ticket from the most important to the less important

- Band that is playing (if you really like the band, you will potentially ignore the other factors)
- Date of the concert (to make sure that you have no important matters to attend)
- Price of the ticket (to know whether you really can afford the ticket)
- Friends that are going
5 0
3 years ago
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