The Golden Gate bridge is maintained by 17 ironworkers, who replace corroding steel and rivets, and 38 painters. If the painters
have an average wage of $120,000 per year with benefits and the ironworkers get $150,000, what is the capitalized cost today of all the future wages for bridge maintenance at an interest rate of 8% per year?
<span>Mario could easily have a list of other restaurants in his targeted neighborhood through interviews and surveys. Using this type of data collection will ensure him of qualitative data. In addition to the list of names, he will also know the profitability of opening a restaurant based on his interview. </span>
The correct answer is D. Materiality levels for particular classes of transactions, account balances, or disclosures might also need to be revised.
Explanation:
The need for less materiality for significant account / disclosure may occur infrequently; however, it may be appropriate in certain circumstances. The materiality of performance related to a lower materiality for the significant account / disclosure is set to reduce to an adequately low level the probability that the sum of the errors not corrected and not detected in that significant account or particular disclosure exceeds the materiality Minor account / significant disclosure.
We must document the minor amount of the materiality of the significant account / disclosure, if applicable, for each specific significant account or disclosure and the factors considered in its determination.
Materiality Modification
The materiality for the financial statements taken together (and, if applicable, the lower materiality for the significant account / disclosure) may be modified as a result of:
A change in circumstances that occurred during the audit. New information, or
A change in our understanding of the entity and its operations as a result of performing additional audit procedures.
Not necessarily. Sure, there are some things where it is very clear what is right and wrong but there are so many situations where it is hard to differentiate between what is right and what isn't.
If the economy has 100 workers, then the economy can produce a maximum of 500 tennis rackets.
Given, MPLT = 5 tennis rackets
MPLB = 4 baseball bats Number of workers =100
So, if the economy has 100 workers, then, 5 × 100 = 500
Hence, the economy can produce 500 tennis rackets.
There are two main sources of growth of the economy. First is the growth in the size of the workforce and second, growth in the productivity of that workforce.
Hence, either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
