Help the child see that they themselves can answer what will happen if they come across a situation like so
If information about an entity's ability to continue as a going concern is not disclosed in the financial statements, an auditor of financial statements is likely to express an adverse opinion.
<h3>Define a qualified or adverse opinion.</h3>
A remark made in an auditor's report that is attached to a company's audited financial statements is known as a qualified opinion. According to an auditor's judgment, a company's financial information may have been incomplete or there may have been a significant problem with how generally accepted accounting standards (GAAP) were applied, but the problem was not widespread.
With one or more exceptions, the financials often reflect the company's success and position. The financial statements are inaccurate or do not adhere to widely accepted accounting rules, in our opinion (GAAP).
To know more about qualified opinion, visit:
brainly.com/question/14310924
#SPJ1
I'm assuming single means non-married, in that case your max repayment would be $1,250
Answer:
$6490
Explanation:
The computation of the ending inventory is shown below:
= (January ending inventory in units × price) + (February ending inventory in units × price) + (May ending inventory in units × price) + (September ending inventory in units × price) + (November ending inventory in units × price)
= (8 units × $113) + (9 units × $124) + (13 units × $136) + (7 units × $144) + (11 units × $154)
= $904 + $1,116 + $1,768 + $1,008 + $1,694
= $6,490
Answer:
Sales type lease, direct financing lease, operating lease
Explanation:
A lease is a contractual agreement whereby the lessor(landlord) is paid for the use of his or her assets/properties by the lease(tenant). The assets that are usually leased are vehicles, buildings etc where payment is made for a specified period.
Sales type lease. Here, the dealer(landlord) earn interest revenue accrued plus the profit on the sale of asset. Whereas the profit is arrived at by deducting the selling price from the actual sales price . Profit is also earned and recognized at the beginning of the lease period.
Direct financing lease. The only benefit earned on this type of lease is the interest by the lessor-landlord. There is no profit or loss in the lease transaction. The actual value of leased asset is the same as the purchased value of the asset.
Operating lease is the combination of both sales type lease and direct financing lease. Here, the benefit of asset leased like yearly depreciation is claimed by the lessee-tenant . The ownership of leased asset must be transferred to the lessor at the end of agreed term subject to lessee having bargaining option. The lesse may however purchase the asset at a much reduced price say seventy five percent of the market value.
