Because it is very easy to spend money that you do not have by using a credit card. Most think they can pay it off the following month, but that rarely happens.
Answer:
C. has the responsibility of notifying financial statement users through the auditor's report.
Explanation:
Auditor responsibility: The responsibility of the auditor is to give the true and fair opinion on the company's financial statements. The checking of an error or any fraud done by the company is checked by the auditor and the same is communicated to the users of the financial statement.
If all the things are fine than the auditor gives the unqualified opinion else it gives the qualified opinion.
Thus, all other statements are incorrect because it is against the rules and regulations, so if the statement is not fairly stated or the evidence is insufficient to reach any conclusion, the auditor has to notify the users of the financial statement through the auditor's report.
Answer:
Explanation:
Cryptocurrency got its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of the encryption is to provide security and safety.
I had to look for the options and here is my answer:
Based on the one presented above, we can say that the equivalent equation can be written like this: <span>BI + P = COGS + EI. BI refers to the beginning inventory and P is the purchases. The COGS is the cost of goods sold. EI is the ending inventory. Hope this helps.</span>
Answer: $2,821,932
Explanation:
No. of shares outstanding before stock dividend = 493,000
Price per share = $36
Stock dividend issued (shares issued) = 493,000 x 14% = 69,020
Value of stocks issued as stock dividend = 69,020 x $36 = $2,484,720
No. of shares outstanding after stock dividend = 493,000 +69,020 = 562,020
Cash dividend = 562,020 x 0.60 = 337,212
Total reduction in retained earnings = total value of dividend issued
= $2,484,720+$337,212
= $2,821,932
