A financial statement audit is the examination of an entity's financial information and accompanying exposures by a liberated auditor.
<h3>What is the main objective of the audit of financial statements?</h3>
The purpose of an audit of financial statements is to enable the auditor to communicate an opinion on whether the financial statements are prepared, in all material respects, by an applicable monetary reporting framework.
External auditors are accountable for auditing the company's financial statements and delivering reasonable assurance that they are presented fairly and following GAAP and that they recollect a true representation of the company's financial position and end of operations.
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Unemployment rate is 8.3%
participation rate is 60%
Option D, The given educational requirement would most likely be stated in the job specification for this position.
<u>Explanation:
</u>
A job description is a written account that specifies the duties and obligations of a work, or other related functions.
A written statement of requirements for jobs, professional training, experience level, physical, mental, technological and interpersonal skills required to carry out employment, activities involved in a job and other unique sensory demands is also known as workplace criteria.
The criterion for an applicant is a definition of abilities, expertise, experience, knowledge and other qualities that a candidate will obtain (selection criteria) in order to fulfill the tasks. The definition of the work should be extracted and the basis for the hiring process.
Answer:
Explanation:
The journal entry is shown below:
Interest expense A/c Dr $3,000
To Interest payable A/c $3,000
(Being interest is recorded)
The computation of the interest expense is shown below:
= Principal × rate of interest × number of months ÷ total number of months in a year
= $125,000 × 6% × (4 months ÷ 12 months)
= $2,500
The four-month is calculated from the September 1 to December 31
Answer:
lowers the cost of borrowing from the Fed.
Explanation:
The discount rate is the rate that the Fed charges to commercial banks for overnight loans. This loans are only made when commercial banks have no other option, and represent one of the Fed's main functions: acting as lender of last resort.
When the Fed lowers the discount rate, commercial banks can access the Fed as lender of last resort at cheaper interest rates.
