1. ignorance of laws/statutes/regulations in each country and communication issues
2. vulnerability of being a new entry in global competition
3. off-site business, finding trustworthy trade partners whom you've never met
During a financial statement audit an internal auditor may provide direct assistance to the independent CPA in performing both tests of controls and substantive tests.
<h3>What is audit ?</h3>
Audit is the checking or inspection of the account of the company in order to make sure a ll the transactions are recorded systematically and accurately. it is done to check the correctness of the accounts provided by the companies in the financial accounts.
During the auditing of financial statements, auditor provides helps to the Certified Public Accountant by performing both the test of control and substantive tests.
Learn more about Auditing here:
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Answer:
The correct answer is C. M1 plus near monies.
Explanation:
The liquidity approach emphasizes the role of money as a store of value and downplays the role it plays as a means of payment. To assess the amount of money emphasizes that the essentially distinctive property of money is that it is the most liquid of assets.
The strict money supply or circulating medium (M1), which defines money as the money in the hands of the public and demand deposits (DV) is the usual most accepted formula as money. Therefore, money in the strict sense is listed as such in the monetary statistics of the International Monetary Fund (IMF) and many other financial institutions around the world.
Answer:
24%
Explanation:
Given that,
Current liabilities = $ 510
Long-term debt = $340
Common stock = $600
Retained earnings = $1,050
Total liabilities & stockholders’ equity = $2,500
The common stock would appear as a percentage of the total liabilities & stockholders’ equity.
Therefore, the common stock would appear:
= Value of Common stock ÷ Total liabilities & stockholders’ equity
= $600 ÷ $2,500
= 0.24 or 24%
Answer:
b) Income is allocated on a pro rata basis
Explanation:
A partnership is an agreement between two or more people to oversee a business and share in the profit and losses made by the business.
In a partnership when income comes in it is shared.on a pro rata basis.
This means income is given based on the level of ownership of the business.
For example a partner that has 60% ownership of the partnership is expected to collect 60% of the business income.
Pro rata is also called proportional rate.
