An economic structure in which judgments about what to manufacture and in what amounts are determined by the markets consumers and retailers is known as a free-market system
This is further explained below.
<h3>What is
the free-market system?</h3>
Generally, A market economy is an economy in which choices about investment, production, and distribution to consumers are led by the price signals that are formed by the forces of supply and demand. This kind of economic system is known as a free market economy.
In conclusion, A free market system is an economic framework in which decisions on what to make and in what quantities are set by the customers and retailers in the market.
This kind of system is also known as a consumer-driven economy.
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Answer:
c. Accumulated Depreciation
Explanation:
The balance sheet is used to show the balance of the assets, liabilities and owners equity at a given period.
When a fixed asset is purchased, it is recognized at cost. As it is used, it is depreciated by debiting the depreciation expense in the income statement and crediting the accumulated depreciation in the balance sheet.
Hence the account other than Computers, that should appear on the balance sheet as of December 31, 2016 is Accumulated Depreciation
Factors related to the susceptibility of accounts to misstatement or fraud include the Size of the account balance and the volume of transactions.
A fraud risk factor is an event or condition that: (1) shows rationalizations or attitudes that justify wrongdoing; (2) Demonstrates motivation or pressure to commit fraud; or (3) provides an opportunity to commit fraud.
From the auditor's perspective, the three components of audit risk are inherent risk, control risk, and detection risk.
Inherent risk refers to the vulnerability of a statement to susceptibility misrepresentation due to error or fraud that, individually or in combination with other misrepresentations, could be material before appropriate controls are applied. increase.
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