How can the owners be disclaimers?

Q: If you become aware of a breach or violation, you should

A: Breach or violation of the terms and conditions by the employee is a commit of fraud or revealing…

Q: What are the requirements for nonattest engagements?

A: Non-attest engagements or services   The non-attest services are the engagements with a client and…

Q: What is a registration statement?

A: Statement: It can be defined as any sentence or a line that provides information in a definite or a…

Q: Under what law is a registration statement filed?

A: Securities Exchange Commission (SEC): This is the government agency that governs the working of…

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

Q: What are the possible reasons for keeping incomplete records?

A: Incomplete records:   It refers to a situation where an organization does not use double entry book…

Q: Are there any reasons to question the validity of the CAPM?Explain.

A: In any ‘well-diversified portfolios’ the relationship between the ‘risk’ and the ‘required rate of…

Q: Explain promissory notes?

A: Promissory note refers to a signed written document that contains an unconditional promise to pay…

Q: What is the difference between adjusting entries and correcting entries? Which method is better and…

A: Difference between adjusting entries and correcting entries:Usually, adjusting entries are needed at…

Q: whether the statement is true or false.

A: Asset-based financing is the finance availed by a company in lieu of its assets. In such cases, the…

Q: Why is there a cost associated with reinvestedearnings?

A: There is some adaptability in the measure of funds that will be created from new reinvested earnings…

Q: How are errors corrected if they're not properly accounted for?

A: The errors can happen as all the things are human oriented. The error can happen as the process of…

Q: What are the classes of transcription errors?

A: Definition: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What is an estoppel? Why is it used?

A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…

Q: What is the purpose of the blind copy of a PO?

A: The blind copy of a Purchase order(PO) provides no details regarding the amount or pricing of the…

Q: Distinguish between a fictitious transaction and an artificial transaction?

A: The difference between fictitious transaction and an artificial transaction is based on the…

Q: What does disclosure mean?

A: Meaning of Disclosure - Disclosure is generally making the information and facts available to the…

Q: What is non-posted interest on statements? Please explain.

A: The answer is stated below:

Q: State the meaning of incomplete records?

A: Accounting refers to the process through which the financial transactions related to a business are…

Q: Explain Charges and Liens?

A: The question is based on the concept of legal terms used to grant security against loan or debt.

Q: What is identifying owner?

A: The answer is provided as follows:

Q: What are the characteristics of a confirmation? Distinguish betweena confirmation and external…

A: Auditing: The process of critical examination and evaluation of the accounting information recorded…

Q: What are reversing entries? Are they required by GAAP?

A:

Q: How is the term "confidentiality" different from "privacy"? Explain.

A: Answer: The terms Confidentiality and Privacy are different terms. Privacy is all about person and…

Q: BARTLEBY should not be copied. Explain simply what accounting is

A: Accounting is a comprehensive word with various sub-branches such as cost accounting, management…

Q: When is remeasurement rather than translation appropriate? How does remeasurement differ from…

A: Foreign Currency Financial Statements:   Foreign currency financial statements are those statements…

Q: Owner s withdrawal may be classified as

A: Owners withdrawal is part of balance sheet it is reported in equity section of balance. It is…

Q: what is a validity check?

A:

Q: What features or rights may alter the character of preferredstock?

A: Preferred stock is the stock which gets preferential rghts to payment of  dividends and in case of…

Q: When should the defender be replaced?

A: When should the defender be replaced?

Q: What is a prefiling conference, and why might it be helpful to a registrant?

A: Prefilling conference: A prefilling conference is requested by a company if it faces problems or…

Q: What is the purpose of a registration statement?

A: Registration statement is a legal document which is filed with the SEC to register securities for…

Q: What transaction is covered by Maceda Law?

A: MACEDA LAW is also known as REALTY INSTALLMENT BUYER ACT, was approved in 26th August 1972 to…

Q: Which statement is false?

A: Corporate Bonds: These are bonds issued by the corporation for raising capital. These are…

Q: when should th

A: When should the client representation letter be obtained? -The Clients Representation should be…

Q: Explain Prepayment Penalties?

A: Prepayment penalties are those penalties that lender charges from the borrower if borrower…

Q: are patents an expense?

A: Patents:Patent is an intellectual property that is provided to the owner to have legally right for…

Q: How might exclusion clauses be found to be unenforceable?

A: Exclusion clause is defined as the term of contract that looks for restricting or excluding the…

Q: What is a restrictive endorsement? Explain with examples?

A: Restrictive endorsements:Restrictive endorsement restricts the use of a financial instrument. The…

Q: Which of the following is not an assertion relating to classes of transactions? Accuracy, Adequacy,…

A: Classes of transaction includes the transactions of the company which are grouped together for…

Q: What is conflict of interest?

A: Conflict of interest: Conflict of interest occurs when a person derives personal benefits by…

Q: What is the full disclosure principle?

A: Principles are followed by the business for preparing financial reports.