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2 years ago

Which of the following statements about Generally Accepted Audit Standards are true?

Business

1 answer:

lidiya [134]2 years ago

8 0

Answer:

B) I and III

Explanation:

Generally Accepted Audit Standards are used for auditing private companies. They provide systematic guidelines to auditors when conducting audits on companies' financial statements. They check for the auditor's verifiability of the company's compliance to the Generally Accepted Accounting Principles (GAAP) as well as their accuracy and consistency of their records. Therefore, choices I and III are correct.

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How many kalamata olives come on a whole salad? Enter the exact number.

skelet666 [1.2K]

Answer:7

Explanation:

5 0

2 years ago

Suppose that a demand curve exhibits two points. Initially, at price P 0 P0 , the quantity demanded is Q 0 Q0 . When price chang

Vinvika [58]

Answer:

$Price Elasticity of Demand= \frac{Percentage change in Demand}{Percentage change in Price}$

At Price = $P_{0}$

Quantity demanded = $Q_{0}$

At Price = $P_{1}$

Quantity Demanded = $Q_{1}$

Now,

$Percentage change in Demand = \frac{(Q_{1} - Q_{0})}{Q_{0}}$

$Percentage change in Price = \frac{(P_{1} - P_{0})}{P_{0}}$

$Price Elasticity of Demand = \frac{\frac{(Q_{1} - Q_{0})}{Q_{0}}}{\frac{(P_{1} - P_{0})}{P_{0}}}$

Above formula if used will give the correct answer related to Price Elasticity of Demand.

Another variant of above formula is also being used on prominent basis.

$Price Elasticity of Demand = \frac{\frac{(Q_{1} - Q_{0})}{(Q_{1} + Q_{0})} }{\frac{(P_{1} - P_{0})}{P_{1} + P_{0}} }$

Utilization of any of the above Formula will give the ideal outcome in estimating Price elasticity of demand.

5 0

3 years ago

On January 1, Year 1, Lowing Company acquired a patent from Generics Research Corporation for $3 million. The legal life of the

pickupchik [31]

Answer:

The amount of amortization expense each year is $500,000.

Explanation:

This can be calculated as follows:

Patent original cost = $3,000,000

Salvage value after 5 years = $500,000

Number of years to use before selling it = 5 years

Therefore, we have:

Annual amortization expense = (Patent original cost - Salvage value after 5 years) / Number of years to use before selling it = ($3,000,000 - $500,000) / 5 = $500,000

Therefore, the amount of amortization expense each year is $500,000.

4 0

3 years ago

A new aerated sewage lagoon is required in a small town. Earlier this year, one was built on a similar site in an adjacent city

zysi [14]

Answer:

value of new lagoon will be $4.05 million

Explanation:

We have given cost = $2.3 million

It is given that new lagoon will be 65% larger

So size of lagoon will be 1+0.65 =1.65

Sizing exponent for this project is given 1.13

So x = 1.13

New lagoon is given by $New\ lagoon=cost\times size^x$

So new lagoon will be equal to $=2.3\times 1.65^{1.13}=2.3\times 1.76=4.05$ $ million

So value of new lagoon will be $4.05 million

6 0

2 years ago

Eleanor has preferences for two goods: shrimps, and posters of mailmen. Let shrimps be on the horizontal (x) axis, and draw mail

MAXImum [283]

Answer:

Attached image is the plotted and labeled graph.

Explanation:

- Bundle values are:

A. (9,1)

B. (3,7)

C. (4,0)

D. (8,8)

E. (6,5)

- Count over on the x-axis then count up on the y-axis.

- Start marking the values of y-axis above the x-axis on the graph.

7 0

3 years ago