Answer:
1. Accountants are ethically obligated to report financial information accurately
2. Reporting using the generally accepted accounting principles underscore on accuracy
3. Loss of confidence, lack of trust on the accounting team, a huge strain on their professional judgement and ethics.
Explanation:
1. Financial information in itself possesses some vital characteristics. One of these is the accuracy of the financial information. As the handler of financial activities, accountants are therefore saddled and ethically obligated to present and prepare their information accurately. This is so as to reflect the true picture of the going in the organization.
2. Reporting using GAAP - Generally Accepted Accounting Principles, seeks to converge the presentation of financial reports and statements on the basis of accuracy. Thus, reliability and relevance are ultimately the foremost objectives of these principles. I therefore have no doubt its usage conveys accuracy of reports.
3. Loss of confidence - financial reports through which the external analyst worked upon are often prepared by the internal staffs. The implication of a wrong and misleading reports from the company is an erosion of confidence on the credibility, reliability and competence of company's preparers of reports.
Lack of trust - The point above ultimately impacts on the level of trust placed on the accuracy, reliability and relevance of financial reports.
Professional Judgement and Ethics - The conducts of the company in presenting a wrong report throws the analyst into an ethnical dilemma, and a huge professional strain. This is not in line with best practices.
Answer:
Using a formal writing style.
Explanation:
Informational reports are documents that states facts or details about a subject matter in a straight to the point manner.
They are most times presented prior to a decision making process.
Informational reports are written most times in a formal manner to state urgency of matter been discussed.
Answer:
The correct answer is the option A: unconscionable
Explanation:
To begin with, the reason why such prohibition from Marco to Fred is unconscionable is due to the fact that Marco already stated in a private contract that he agreed to sell the apartment to Fred by a certain price, therefore establishing that the property of the real estate now belongs to the other party, letting everyone else external to the contract know that the proper and new owner is Fred.
Secondly, it is understandable that now that Fred is the new owner of the apartment by contract then it is unfair and unreasonable that the old owner Marco prohibits him to do what he wants with the apartment.
Answer:
The characteristics which is shared among both monopolies and oligopolies is that they have significant barriers to the entry into the market.
Explanation:
Oligopoly market is the market structure which have a small number of firms, and could not have significant influence. The market have the barriers for entering into the market.
Monopoly market is the one which have a market structure having a single seller, selling the unique product, faces no competition and no substitute available with customers. In this market, there is also barriers for entering into the market.
