Answer:
Independence
Explanation:
AICPA actually groups two rules together- Objectivity and Independence.
While it is very possible for both internal and external accountants to be Objective (impartiality and intellectually honest). Only an external accountant can be truly independent especially when p<u>roviding auditing and other attestation services.</u> These services are primarily performed to obtain an independent report or view of the financial state of an organisation.
Actually, it is clearly stated in the AICPA code of professional conduct that members or accountants not in public practice (internal accountants) cannot maintain an appearance of independence.
Every organisation's internal accountant is primarily responsible to the Board of Directors and Management of such an organisation.
<h2>
Required Answer : - </h2>
: A group of buyers and sellers of a particular good or service is called market
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Additional information :- </h2>
- The market are a place where two parties can gather, which will facilitate the exchange of goods and services. The parties that are involved are usually the buyers and sellers. A market is a physical form like a retail outlet, where the sellers and buyers can meet face-to-face, or in a virtual form like an online market, where there is an absence of direct physical contact between the buyers and sellers.‘Market’ is a term used in many instances like the securities market or the normal physical market where the people come together for the procedure of buying and selling.
- The market is introduced as a structure that is for the societal benefit of the society. The market structure consists of various forms of market, the forms are characterized according to the nature and the degree of competition that exists in the market for the goods and services. The structure of the market both for the goods market and the service or the factor market is to be judged by the nature of competition that is prevailing in a particular type of market.The Market form is a state that is resultant for the quality or the effectiveness of market competition that is prevailing in the market.
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Hope it's helps :)
Answer:
Pension Expense = EBE = $593440 for income statement
Explanation:
The opening balance of the Plan asset is made by the 40000 from 2018 plus interest of 32000 and the new 400000 made this year. Why include it? Because an opening balance are the funds in an account at the beginning of the year either from last year or are from current year but should be the first entry in the books of the current year.
DBO plan asset EBE
opening balance (600000) 832000 -
interest ( 60000) 66560 6560
current year's service cost (600000) (600000)
( 1260000 ) 898560 <u> 593440</u>
balance sheet liability = 361440
Answer:C
Explanation:The theory believes that because people make decisions based on the available information at hand combined with their past experiences, most of the time their decisions will be correct.
Answer:
$16 and $28,400
Explanation:
The computation of the fixed cost and the variable cost per unit by using high low method is shown below:
Variable cost per unit = (High total cost - low total cost) ÷ (High units - low units)
= ($84,400 - $46,000) ÷ (3,500 desks - 1,100 desks)
= $38,400 ÷ 2,400 desks
= $16
Now the fixed cost equal to
= High total cost - (High units × Variable cost per units)
= $84.400 - (3,500 desks × $16))
= $84,400 - $56,000
= $28,400