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Basic Elements of Audit Report. When field work was finished on December 31, 20X0, the following standard unqualified auditor's report was given by Eldridge and Lloyd, Chartered Accountants (CAs), of Surrey, England:Auditor's Report We have audited the accompanying financial statements. In our opinion, the financial statements correctly show the account balances and comply with the Companies Acts 1948 to 1981. Eldridge and Lloyd, CAs
Required:
A. List the basic elements that should appear in an unqualified auditor's report.
B. List and explain the deficiencies and omissions in the Eldridge and Lloyd auditor's report.
The state Power Department argues that a 5 percent discount factor should be used in evaluating the projects, because that is the government's borrowing rate. The Human Resources Department suggests using a 12 percent rate.
It has been found that people who live in high sales tax areas are much more likely to purchase over the internet where they are usually exempt from sales tax from firms located in another state. The NGA has proposed a uniform tax of 5% on all int..
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic.
The daily demand for Invigorated PED shoes is estimated to be where Ax represents the amount of advertising spent on shoes (X), Px is the price of good X, Py is the price of good Y, and M is average income.
Citigroup has a £10 million deposit in the U.K. that they wish to convert to Swiss francs (Sfr). UBS is willing to switch the pounds to francs at a rate of 2.32 Sfrs per pound. Deutsche Bank will accept £0.43 per franc.
Derive the constrained MLEs for the µk and Σ. Show that the Bayes classification rule is equivalent to classifying in the reduced subspace computed by LDA (Hastie and Tibshirani 1996).
the PPC for each state, and then draw the graph for the PPC of the two states combined. On each graph, put the quantity of wheat on the vertical axis, and the quantity of corn on the horizontal axis. Be sure to label your graph carefully to receiv..
The banking market in Athens, Ohio, currently has four banks with market shares of 60%, 20%, 15%, and 5%. The two smallest banks have proposed merging. Under the standard merger guidelines of the Federal Reserve and the Justice Department.
The supply is simply the sum of the marginal cost curves of all the firms in the industry. Suppose that all the competitive firms collude to form one single monopoly firm. (Collusion changes neither the demand nor the cost conditions in the indust..
Assume an automobile manufacturer can sell its pickup truck with or without a towing package. Customer Group A is willing to pay a maximum of $30,000 for the truck and $1,100 for the towing package. Customer Group B is willing to pay $29,000 for t..
Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers. [Note: P = price per unit; Qd = billions of units demanded; Qs = bi..
Why did these problems exist, how were they handled, and what was their overall impact on the war at large?
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