Answer:
A) Obtain sufficient appropriate evidence about whether changes in the accounting policies have been appropriately accounted for and adequately presented and disclosed in accordance with the applicable financial reporting framework.
Explanation:
When such things happen, the auditor must search more information regarding the accounting policies and must evaluate if the company's accountants adopted accounting policies that are legal and adjust to applicable financial reporting (e.g. GAAP in the US). The auditor must also try to determine the effects of the applied policies and if all proper disclosures have been included or not. The auditor should also try to determine why the company's accounting department did that and how do they justify it.
It is False When the housing market collapsed in 2007, the demand for loanable funds decreased and caused interest rates to decrease.
Because Interest rates typically decline during recessions as loan demand slows, bond prices rise and the central bank eases monetary policy. During recent recessions, the Federal Reserve has cut short-term rates and eased credit access for municipal and corporate borrowers. No price in the economy is as important as the price of money. Interest rates arguably drive the business cycle of expansion and contraction.
Interest rate is the amount a lender charges a borrower and is a percentage of the principal the amount loaned.
Recession is a period when the business and industry of a country is not successful.
Corporate is formed into an association and endowed by law with the rights and liabilities of an individual.
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Answer:i would say weakness if its a choice
Explanation:
Answer:
Explanation:
Variance analysis studies the relationship between actual and budgeted cost for business activities. Variance analysis helps the management in two ways;
Favorable - if the actual cost incurred is less than the budgeted cost, the difference amount is a saving for the company.
Unfavorable - if the actual cost is more than the budgeted cost, the difference is an extra expenditure for the company.
Flexible budget;
- The flexible budget is prepared at different levels of volume that was initially projected by the master budget.
- It is highly styled and more useful than the master budget.
The report showing the Activity and Spending Variances for march is given in the file attached below, in other not to cause confusion. Thank you.
Answer:
Demand for the patent-holder's product will decrease when the patent runs out.
Explanation:
While there is a patent over a product, only the patent-holder's can sell that product. If there is a monopoly it means that that company is the only one that produce and sell this product.
When the patent run out new competitors will enter the business, so the demand on patents holders will decrease.
