Answer:
C. has the responsibility of notifying financial statement users through the auditor's report.
Explanation:
Auditor responsibility: The responsibility of the auditor is to give the true and fair opinion on the company's financial statements. The checking of an error or any fraud done by the company is checked by the auditor and the same is communicated to the users of the financial statement.
If all the things are fine than the auditor gives the unqualified opinion else it gives the qualified opinion.
Thus, all other statements are incorrect because it is against the rules and regulations, so if the statement is not fairly stated or the evidence is insufficient to reach any conclusion, the auditor has to notify the users of the financial statement through the auditor's report.
Answer:
In a market economy, the price mechanism is indeed the primary coordinator of the decisions of buyers and sellers, because the price for goods and services adjust to an equilibrium point, where demand and supply are equal.
However, the public sector still has two important functions in this enviroment:
- Correcting market failures - a market failure is a situation in which the market does not produce a good outcome. An example of market failure is pollution. Market failures can be corrected by government intervention, for example, by setting anti-pollution regulations.
- Providing public goods - some public goods are not provided by the private sector because they are not profitable. The public sector can therefore step in and provide this type of goods.
It is a great place for trade, because is on the border of a country. It also has water, which a resource. It is a highway for world trade.
Answer:
The present value of the promised gift will:
be less than $5,000.
Explanation:
The present value of $5,000 to be received in three years' time from today is less than $5,000 received. This is explained by the time value of money concept. If the $5,000 gift is discounted to today's value, using a discount factor of 0.751 (10% in three years' time), it would be $3,755 ($5,000 * 0.751). This means that $5,000 received in year 3 is less than $5,000 received today.
Answer:
Theory X organization
Explanation:
McGregor defined it as this: an organization whose approach tend to have several strata of managers and supervisors to oversee and direct workers. A place where Authority is rarely delegated, and control remains firmly centralized. Managers are authoritarian and actively intervene to get things done.
