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Lerok [7]
3 years ago
6

Independent auditing can best be described as:________. A. A regulatory function that prevents the issuance of improper financia

l information. B. A branch of accounting. C. A discipline that enhances the degree of confidence that users can place in financial statements. D. A professional activity that measures and communicates financial and business data.
Business
1 answer:
Elden [556K]3 years ago
8 0

Answer:

C. A discipline that enhances the degree of confidence that users can place in financial statements.

Explanation:

Independent auditing includes the process of auditing by an independent auditor. It involves the process of analyzing and examining the financial transactions and records. The company's accounts, the business records, the transactions are all monitored and audited so as to avoid any unprecedented act. It do not indulge any means of profit in the whole process. Independent auditing is adopted by the shareholders in order to protect from any sort of frauds or unacceptable claims made in terms of financial records.  

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An organization of high school seniors performs services for patients at Leer Hospital. These students are volunteers and perfor
Aloiza [94]

"An organization of high school seniors performs services for patients at Leer Hospital."The amount that should be reported for donated services is 0$. This is further explained below.

<h3>What have donated services?</h3>

Generally, donated services are simply defined as Contributed premises, advantageous financial agreements, or donated services are all ways in which a nonprofit might benefit from the generosity of others.

In conclusion, free labor, A unique collection of abilities is required, and we were going to buy it anyhow.

Read more about donated services

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5 0
2 years ago
Assume you just deposited $1,000 into a bank account. The current real interest rate is 2%, and inflation is expected to be 6% o
solmaris [256]

Answer:

Part 1:

Nominal rate=8.12%

Part 2:

FV=1000(1+0.0812)^1\\FV=\$1,081.2

$1,081.2 is the money you will have at the end of one year.

Part 3:

The Saving account is short of $31.8 ($1113-$1081.2) to buy the bicycle after 1 year because of inflation.

Explanation:

Real Interest rate=2%

Inflation rate=6%

Deposited amount=$1000

Part 1:

Formula:

Real interest rate=\frac{1+Nominal\ rate}{1+inflation\ rate}-1

2\%=\frac{1+Nominal\ rate}{1+6\%} -1\\Nominal\ rate=[(0.02+1)*(1+0.06)]-1\\Nominal\ rate=0.0812

Nominal rate=8.12%

Part 2:

How much money will you have at the end of one year can be calculated as:

FV=PV(1+i)^n

where:

FV is the future value

PV is the present value=$1000

i is the Nominal interest rate (Calculated above)=8.12%

n is the number of years=1 year

FV=1000(1+0.0812)^1\\FV=\$1,081.2

$1,081.2 is the money you will have at the end of one year.

Part 3:

Calculating the price of bicycle after one year due to inflation:

FV_{bicycle}=PV(1+inflation\ rate)^n\\FV_{bicycle}=1050(1+0.06)^1\\FV_{bicycle}=\$1113

The Saving account is short of $31.8 ($1113-$1081.2) to buy the bicycle after 1 year because of inflation.

6 0
3 years ago
Government Spending
fomenos

Answer:

Business Taxes.

Explanation:

A change in business taxes is most likely to change both aggregate demand and aggregate supply.

Aggregate demand can be defined as the total amount of goods and services by consumers at a specific period of time and price level in an economy.

Aggregate supply can be defined as the total amount of goods and services an organization is willing to sell or provide to it's consumers at a specific price level.

When business taxes are imposed on businesses, such as manufacturing companies, these in turn affect the demand and supply framework (final goods and services).

Basically, business taxes causes shifts in demand and supply, which in turn affect the price and quantity of goods and services in an economy.

Hence, companies would either be forced to cut-down on the amount of goods and services provided, result to borrowing or downsizing their manpower. As a result of this, they won't be able to meet the demands of their consumers.

5 0
2 years ago
The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January
postnew [5]
I believe the question you're asking is cut off...
4 0
3 years ago
Factors in determining the elasticity of demand for a good
Whitepunk [10]

Answer:

1.  Nature of commodity

2.  Availability of substitutes

3.  Income level

4. Postponement of consumption

5. Number of uses

6. Share in total Expenditure

7. Time period

Explanation:

8 0
2 years ago
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