<span>Yes
because the AICPA standard for due care does not require CPAs to be infallible.
Since the definition of infallible means incapable of making a mistake. Which
this is not necessarily true. CPAs are capable of making mistakes and as long
as they performed their work with professional due care then they cannot be
held accountable for mistakes that may have happened. </span>
I think the answer must be True! Because the scientist are uncertain of how long the resources will be last. Hope it helped you! Have a great day! :)
Answer:
$37,000
Explanation:
Working capital indicates the difference between a company's current assets and its current liabilities.
Current assets include such as cash at hand, bank balances, cash equivalents, and inventories. Current liabilities are accounts payable, bills, and short term debts.
in this case,
Current assets include
Inventory $50,000
Cash at Bank $ 5,000
prepaid rent <u> $5,000</u>
Total current assets <u>$60,000</u>
current liabilities
Notes Payable $20,000
tax payable <u> $3,000</u>
Total current liabilities <u> $23,000</u>
Working capital
= $60,000 - $23,000
= $37,000
Answer:
$24,000
Explanation:
According to the consignment accounting, it States that any inventory sent on consignment by the consignor to the consignee, belongs to the consignor until the inventory is sold by the consignee.
Regarding the above, Mogu company sent inventory costing $100,000 and out of this, only $76,000 has been sold. The remaining inventory still belongs to the consignor and the amount of this inventory is;
$100,000 - $76,000 = $24,000
Therefore, Mogul would report $24,000 worth of inventories at year end.
Answer:
The appropriate fill-in-the-blank is 05 years. Thus the statement becomes
A person whose license has been cancelled or revoked, whether by voluntary action or by disciplinary action of the Board, may after <u>05</u> years from the effective date of such cancellation or revocation, petition the Board for reinstatement of the license, unless another time is provided in the cancellation or revocation order, or unless no provision was made in the order for reinstatement. This section does not apply to licensees who let their licenses lapse for non-payment of renewal fees or licensees against whom a cancellation or revocation proceeding is not pending before the Board or in any other jurisdiction.
Explanation:
According to the KRS 335.360, A person whose license has been revoked is eligible to apply for reinstatement after 05 years.
