Answer:
First of all, an auditor must be skeptical about the information that he/she is gathering and analyzing. They should try to get as much audit evidence as they can in order to form an opinion. But an auditor can also reasonably assure that there are no material misstatements, either intentional or not intentional.
Most auditor procedures are intended to discover unintentional misstatements, but intentional misstatements are very hard to discover because more than one individual (or even a very large group) might have colluded in order to conceal them. The auditor gets his information from the controller, internal auditor, and other people within the organization, but what if they all colluded in order to conceal their bad actions.
E.g. an auditor should check for shipping receipts to be complete, accurate and in order, but he/she relies on information given by the same people that he/she is evaluating. The auditor can conclude that the shipping reports are complete, but he/she cannot state that they are true and valid because he/she wasn't there.
Answer:
It sacrifice short-term losses for long-term benefit.
Explanation:
As a result of you making a good business decision it allows you to absorb the short term losses in getting a better long time benefit that will last for decades of profit maximization that will cover times ten of your short term losses.
Answer:
Yes, because all three were equal partners in the said business and when the decision was to be made, a greater majority (Bill and Heidi) voted in favor of getting the loan.
Dutch also is thus, liable for the said loan. He ought to have opted out of the partnership if he was dead serious and he would have gotten a fair share of dividends from the said partnership and left the duo to work together
The principle of professionalism<span> is a standard of personal conduct by a </span>professional<span>in his business dealings. While guidelines for acceptable and expected behavior vary from industry to industry, personal </span>principles<span> typically focus on </span>ethics<span>, code of conduct, appropriate personal interactions and workplace integrity.</span>
When the price floor is set above the equilibrium price, the quantity supplied exceeds the quantity demanded, creating an oversupply or surplus. When government laws regulate prices instead of letting market forces set prices, this is the equilibrium price affect quantity demanded and quantity supplied.
If demand does not change, there is an inverse relationship between supply and price of goods and services. When the supply of goods and services increases at the same demand, prices tend to fall resulting in lower equilibrium prices and higher equilibrium quantities of goods and services.
Setting the price cap below the equilibrium price causes demand to exceed supply, resulting in overdemand or shortage. A floor price prevents the price from falling below a certain level.
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