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Katyanochek1 [597]
3 years ago
14

Which of the following is a correct statement regarding the nature and timing of communications between an accounting firm perfo

rming an initial audit of an issuer and the issuer's audit committee?
A. Prior to accepting the engagement, the firm must orally affirm its independence to the audit committee with all members present.
B. The firm must address all independence impairment issues on the date of the audit opinion.
C. Communications related to independence may occur in any form prior to issuance of the financial statements.
D. Prior to accepting the engagement, the firm should describe in writing all relationships that, as of the date of the communication, may reasonably be thought to bear on independence.
Business
1 answer:
tino4ka555 [31]3 years ago
8 0

Answer: <u><em>Option (A) is correct</em></u>

Explanation:

In accordance with the complexion and state of communications in betwixt an accounting firm evaluating an initial audit of an individual and the individual's audit committee, option (A) is the most suitable one.

i.e. Preceding to acceptance of the commitment, the organization should characterize in writing accord that, as of current time period of communication, may judiciously be apprehended to take on independence.

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The manager of the customer service division of a major consumer electric company is interested in determining whether the custo
Elanso [62]

Answer:  Stratified random sampling

Explanation:

Given : The manager of the customer service division of a major consumer electric company is interested in determining whether the customers who have purchased a Blu-ray player made by the company over the past 12 months are satisfied with their products. If there are 4 different brands of Blu-ray players made by the company.

The best sampling strategy which we can use is stratified random sampling because it is not much costly and also it induces the efficiency . We can me different strata according to the 4 brands , then we can randomly select participants for the sample.

  • Stratified random sampling is a method of probability sampling in which a researcher divides the entire population into multiple homogeneous groups known as strata and then he randomly select an sample members from each strata for research .
4 0
3 years ago
If Jordan makes only the minimum monthly payments in March, April, and May, what will his balance be after he makes the minimum
Mariulka [41]

Answer:

b. $988. 97 

Explanation:

6 0
2 years ago
(TCO E &amp; F) A _____ position in T-bond futures should be used to hedge falling interest rates and a _____ position in T-bond
MariettaO [177]

Answer: The correct answer is LONG; LONG

Explanation: A long position means the holder of the position owns the stock. A long position in a financial insteument means the holder of the position owns a positive amount of the instrument and has the expectation of an increase in value.

A short position refers to when the seller of the financial instrument does not own it.

6 0
3 years ago
If real gross domestic product (GDP) grew by 2 percent and the inflation rate was 2 percent, then nominal GDP grew by
ohaa [14]

Answer:

4%

Explanation:

If the real gross domestic product for the year grew by 2%

The inflation rate also grew by 2%

Then nominal GDP rate can be calculated as follows

= Real GDP + inflation rate

= 2% + 2%

= 4%

Hence the nominal gross domestic product grew by 4%

6 0
3 years ago
Short Company purchased land by paying $15,000 cash on the purchase date and agreed to pay $15,000 for each of the next ten year
gogolik [260]

Answer:

Option D is the correct answer,$ 88,338.48  

Explanation:

The liability reported in the balance sheet can be computed by using the pv formula in excel which is stated thus:

=-pv(rate,nper,pmt,fv)

rate is the incremental borrowing rate of 11% per year

nper is the number of payments required to settle the obligation which is 10

pmt is the amount of yearly payment in order to fully settle the debt owed which is $15,000 per year

fv is the future worth of total payments which is not unknown,hence taken as zero

=-pv(11%,10,15000,0)=$ 88,338.48  

The correct answer is $ 88,338.48  

3 0
3 years ago
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