1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alisiya [41]
3 years ago
10

Which of the following situations would preclude an accountant from issuing a review report on a company's financial statements

in accordance with Statements on Standards for Accounting and Review Services (SSARS)?
a. Finished-goods inventory does not include any overhead amounts.
b. The accountant was engaged to review only the balance sheet.
c. The owner of a company is the accountant's father.
d. Land has been recorded at appraisal value instead of historical cost.
Business
1 answer:
sasho [114]3 years ago
3 0

Answer:

c. The owner of a company is the accountant's father.

Explanation:

Standard for Accounting and Review services (SSARS) is used for an entity that is not required to file financial statements with a regulatory body for sale of its securities in the public market.

It is concerned with unaudited financial statements and other unaudited information.

According to the SSARS when the accountant is exposed to bias by being related or having vested interest in the company he is precluded from issuing a review report on the companie's financial statements.

You might be interested in
What is an incentive for a person to contribute to an IDA? It earns the highest interest rates available at a bank. It is good f
vagabundo [1.1K]
The correct answer for the question that is being presented above is this one: "An organization matches the amount deposited." An incentive for a person in order to contribute to an IDA is that an organization matches the amount deposited.
5 0
3 years ago
Read 2 more answers
Which concept ensures that a company replaces its unsustainable operations so that future operations don’t damage the environmen
evablogger [386]

Corporate Social Responsibility ensures that a company replaces its unsustainable operations so that future operations don’t damage the environment

6 0
3 years ago
Read 2 more answers
Describe the short run effects of each of the following socks on the aggregate price level and aggregate output. a. The governme
zhannawk [14.2K]

Answer:

The answer is

A: Aggregate price level increases and aggregate output decreases

B. Both aggregate price level aggregate output increases

C. Aggregate price level increases and aggregate output decreases

Explanation:

A. This government action will increase the aggregate price level increases due to inflation. Aggregate output will decrease due to the increase in cost of product (high wage to labor)

B. Because of the increased spending Investment in solar program, both aggregate output and aggregate price level increase.

C. Due to the severe weather destroyed crops, aggregate price level increases and aggregate output decreases. This happened because there will be decrease in supply of crops.

8 0
3 years ago
Which of the following taxes are paid by the employee and the employer? a.FUTA b.Federal withholding taxes c.SUTA d.FICA
vlabodo [156]

Answer:

The correct answer is letter "D": FICA.

Explanation:

The FICA (<em>Federal Insurance Contributions Act</em>) is a U.S. law that requires a paycheck deduction to be paid to <em>Social Security</em> and <em>Medicare</em>. Employers and employees share half the payment unless an individual is self-employed meaning the full amount must be covered by that person.

8 0
2 years ago
Which of the following statements is CORRECT?
Oduvanchick [21]

Answer:

d. The statement of cash flows shows how much the firm's cash, the total of currency, bank deposits, and short-term liquid securities (or cash equivalents), increased or decreased during a given year.

Explanation:

In a statement of cash flows , what we have shown is a summary of cash and also all equivalents if cash that goes into and also goes out if a firm or company. It provides to what extent that cash is being managed by a firm. Therefore option D is the answer to this question since it talks about how cash increases or decreases in a firm in a particular year

5 0
2 years ago
Other questions:
  • Paulson Company began the year with retained earnings of $500,000. During the year, the company issued $720,000 of common stock,
    7·1 answer
  • In a QSPM​ analysis, would it ever be appropriate or useful for a company not to include a weight column at​ all, but rather tot
    10·1 answer
  • Journalize the following transactions in the accounts of Sedona Interiors Company, a restaurant supply company that uses the all
    12·1 answer
  • Fixed costs included in this income statement are $2,000 for meal production and $400 for administrative costs. Maria has receiv
    9·1 answer
  • Andrea Arena is the owner of 2 Places at 1 Time, a concierge company. She and her staff of 60 perform everyday services such as
    9·1 answer
  • Karen Bates has owned several automobiles from her favorite brand. Therefore, when deciding to purchase a new car for her daught
    8·2 answers
  • Freeman, Inc., reported net income of $40,000 for 20A. The income tax return excluded a revenue item of $3,000 (reported on the
    15·1 answer
  • Assume the following account balances at January 1, 2019, for Bioplast Jewelry, Inc.: Accounts Payable (control account) $ 6,600
    12·1 answer
  • Management moving production or other parts of the company's value chain to countries where wages are lower is an example of ___
    9·1 answer
  • If 50 units are sold at a price of $20 and 80 units are sold at a price of $15, what is the absolute value of the price elastici
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!