<span>From 1997 through 2006 the price of the average American home increased by nearly 125%. In the same time period this meant the home price ranged from 2.9-3.1 times the average household income. This led to fast and loose lending which include adjustable rate mortgages. This meant that once the economy crashed, up to 9 million homes were foreclosed on in one year, the average year normally sees roughly 1 million homes in foreclosure. In total, that represented $450 billion in losses from the banks.</span>
Do it yourself this gets you no where im sorry
Answer:
they believe that independent opinion expressed by an independent auditor on such a financial statement is more reliable than financial statement not from such a source due to potential conflict of interest.
Explanation:
The financial statement audited by an independent CPA is more reliable than the ones audited by a non-independent CPA. This is so because of the statutory responsibilities of the independent CPA.
The non-independent CPA is under the control of the management but the independent CPA is not responsible to the management but the shareholders.
Answer:
6.0
Explanation:
Market to book ratio is calculated as ; Market capitalization / Net book value.
Where,
Market capitalization = Price per share × Total shares outstanding
= $24 × 25,000,000 shares
= $600,000,000
Then,
Net book value = Total assets - Total liabilities
= $200,000,000 - $100,000,000
= $100,000,000
Therefore,
Market to book ratio = $600,000,000 / $100,000,000
= 6.0