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ankoles [38]
3 years ago
10

Which of the following statements is true about the audit opinion formulation process presented in this chapter?

Business
1 answer:
n200080 [17]3 years ago
3 0

Answer:

b. The audit opinion formulation process is based on the premise that management has responsibility to prepare the financial statements and maintain internal control over financial reporting.

Explanation:

The  audit opinion formulation generally, is based on the premise that management has responsibility to prepare the financial statements and maintain internal control over financial reporting.

This entails that if there has not been sufficient internal controls to to enable fair presentation of Financial Statements, the entity gets a qualified audit opinion (negative report) otherwise if in place, the company gets a unqualified  audit opinion (positive report).

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To prevent monetary policy from becoming highly politicized, many countries have A. made their central banks be politically inde
ladessa [460]

Answer:

The correct answer is letter A. They made their central banks politically independent.

Explanation:

Central banks have become independent in developed countries due to their macroeconomic stability. Thus, to maintain it, the independence of the Central Bank was adopted, and this measure would have greater control of the issuance of money by the government to finance its spending. In this sense, the independence of the Central Bank removes the influence of parliament from monetary policy decisions, and also removes the influence on managers, with parliament only overseeing, making management more technical.

3 0
3 years ago
Suppose that M is fixed but that P falls. According to the quantity equation which of the following could both by themselves exp
rewona [7]

Answer:

D. V fell.

Explanation:

According to the quantity theory :

Money Supply x Velocity = Price x Output

If money supply is fixed, price is directly proportional to velocity.

If price fell, then velocity also fell.

V fell and Y rose

3 0
3 years ago
Which one of the following is not of much significance to company managers in deciding whether profitable opportunity exists to
ratelena [41]

Answer:

The correct answer is C)

Explanation:

Whether or not companies in the industry expanded their capacity is really not of much concern. What should concern management are the other factors:

  • Forecasted  Demand Vs Actual Demand: This tells us what has happened in the market
  • Forecasted Growth in Demand: This tells us what might happen in the market
  • Industry-wide capacity to meet demand is critical information: This tell us what other companies are doing and how it is shaping the market. That is, is the market saturated or not.
  • If beginning inventories are very high, in each of the regions reported, installing additional production capacity is not a very sound business decision.

Cheers!

5 0
3 years ago
Stoltenberg Co. had the following information for the month of June: Work in process beginning inventory, June 12,300units Units
solniwko [45]

Answer:

the number of units started and completed in June is 24,900 units

Explanation:

The computation of the number of units started and completed in June is shown below;

= Opening work in process inventory + transferred units - ending work in process units

= 12,300 units + 16,900 units - 4,300 units

= 24,900 units

hence, the  number of units started and completed in June is 24,900 units

4 0
3 years ago
Uillypad Toys is a manufacturer of educational t that can be used to introduce children to a number of foreign languages. Three
Talja [164]

Answer:

B) a difficult struggle to move from invention to innovation toys for children

Explanation:

The four stages of a product's life cycle are:

  1. Introduction
  2. Growth
  3. Maturity
  4. Decline

Currently, Uillypad's tablet is in the introduction stage and this is a stage where sales are slow, marketing efforts and expenses are great, and if everything goes right the product will enter the growth stage. During this stage the company must invest a lot of resources in convincing their target market into purchasing their product, generally early adopters are the first ones to do so, but more customers are needed.

It is always hard to introduce an invention and make people adopt it as an innovation and start gaining market share.

6 0
3 years ago
Read 2 more answers
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