The auditors!
They are primarily responsible for preparing the financial statements and expressing an opinion on whether they follow generally accepted auditing standards
Answer:
c. $(5,000)
Explanation:
Calculation for the record of either gain/(loss)
In Case B
Book Value amount was $39,100
Fair Value amount was $34,100
Hence:
Using this formula
Gain/(loss)= Book Value-Fair Value
Let plug in the formula
Gain/(loss)=$39,100-$34,100
Loss=$5,000
Grand Forks would record a loss of $5,000 because the fair value which is the price the buyer is willing to buy the asset is lesser than than book value amount.
The rate you expect to see on a treasury bill is 5.31%.
Short-term government securities and Treasury Bills have maturities ranging from a few days to 52 weeks. The face value of bills is discounted when they are sold. Since the U.S. government backs Treasury Bills, they are regarded as a secure and conservative investment. T-Bills are typically kept until they reach maturity. However, some holders could prefer to cash out before maturity and take advantage of the benefits from the investment's short-term interest by reselling it on the secondary market.
The real rate is 3. 75%
= 3. 75/100
= 0.0375
The inflation rate is 1.5%
= 1. 5 /100
= 0.015
Therefore the rate on the treasury bill can be calculated as follows
= (1+0.015)(1+0.0375)-1
= (1.015×1.0375)-1
= 1.0531-1
= 0.0531×100
= 5.31%
Hence the rate that is expected to be seen on the treasury bill is 5.31%.
To know more about Treasury Bills refer to: brainly.com/question/7278415
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