A ship to transport the first English Seperatists
Acc 450 the auditors should confirm accounts receivable unless the auditors’ assessment of the risk of material misstatement is low "and relying on confirmations would be futile if accounts receivable were relevant."
<h3>What is
material misstatement?</h3>
A major misrepresentation is material in the financial information that is sufficiently false to have an effect on someone who relies on those statements in making financial decisions.
Some characteristics of material misstatement are-
- For instance, a major misstatement of revenue may prompt a decision to purchase stock in a company, which could result in losses for the investor if indeed the misstatement is quickly corrected and the stock price drops.
- When management fails to correct a substantial misstatement that is discovered by an auditor, the auditor should assess the impact of the error mostly on financial statements & determine whether to revise the audit opinion.
- Shareholders in corporations that must comply with Securities and Exchange Act in 1934, newly amended, reporting obligations are exempt from this regulation.
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Answer: Conflict perspective
Explanation: Conflict perspective aims to explain the preferential differences or inequalities which exists within a society usually as a result of the gulf in class which exists between the social class such that the influential and dominant groups are treated favorably than the those in the lower Cadre. The dominant groups are afforded greater privilege and favoritism. In the scenario above, the individual who stole the greater amount got a fairer judgement than the person committed the same offense but a substantially lower amount. This is due to the conflict perspective which occurred due to the preferential treatment enjoyed by the manager who belongs to a more dominant social group.
The first human-made shelters called pit houses. They were pits in the ground with roofs of branches and leaves. permanent structures of wood, stone, or clay or other materials. Even bones from large animals such as mammoths were used in buildingshelters.
