Answer:
A) True
Explanation:
The internal control structure deals with the rules, laws, procedures, practices that vary from company to company that are necessary to attain an organization's goals and objectives.
The substantive testing is an audit process aimed at checking the accuracy and reliability of the financial statements. To check if the financial statements are free from any errors, mistakes, fraud, etc. that can change users' decisions.
The financial statements should be relevant, reliable and finalize in all respects.
Therefore, a strong internal system will reduce the quantity of substantive testing required.
Answer:
general partnership
Explanation:
General partnership -
It refers to the condition , where the business is run by two or more individuals , who merges their shares , in order to run the business , it is referred to as a general partnership .
All the partner have equal rights on the profit ,loss , and all the financial decisions and income tax .
There are unlimited liability , and any of the partner can be sued for any type of business debts .
Hence , from the given scenario of the question ,
The correct term is general partnership .
The correct answer is choice b.
Managerial Economics deals specifically with the application of economic concepts, theories, tools, and methodologies in order to solve practical problems in a business. This definition aligns with choice b, which is to provide logic and methodology to find solutions to business problems.
Answer:
No
Explanation:
Long term bonds might not be great investments if the interest rate fall or even slide into negative value in the future. This means that the bond will become insignificant in value.
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