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Q. 1 What is meant by verification and how it is different from vouching? What is the importance of verification in audit?
Q. 2 Explain the methods to verify the various types of tangible and intangible assets.
Q. 3 How should an auditor verify the share capital, reserves and various types of liabilities?
Q. 4 What is the professional qualification required to be an auditor of a public limited company? What are the rights and duties of an auditor?
Q. 5 What are the various purposes for which an auditor's report may be required? Explain the various types of annual audit reports given by the external auditors.
Ford Corporation reported net income of $15,000; net sales $200,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 earnings per share?
The first payment will be due in 6 months, the second in 18 months and the third in 30 months. What is the size of these payments if money is worth 10% compounded quarterly and a focal date of 18 months is used for evaluation purposes?
Prepare a flexible budget for next year for Signet Jewelers using three different growth rates (assume absorption costing). Explain how you determined the three growth rates to use (the low, the average, the high). Explain how you adjusted all other ..
GEH is in the business of owning and running hotels with an 'eco' theme - meaning they must be environmentally and socially responsible, but capable of making a good profit in the medium to long term.
Prepare general journal entries for the following transactions of a new business called Pose for Pics. Aug. 1 Hashim Paris, the owner, invested $7,500 cash and $32,500 of photography equipment in the business.
What classification procedure and subsequent classification could Jaycom follow in order to meet its objective? How will Jaycom justify its choice to their auditors?
What are the advantages and disadvantages of using automated accounting systems to do adjusting entries?
What accounting transactions are not recorded by an accountant during partner liquidation?
Which of the following circumstances would cause the gifted property to be included in the donor's gross estate?
Do you think that it is a wise investment to contract services taht provide security agains fraud or should it be an in-house department?
Prepare a budget showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter.
On January 3, 2008, Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. What was the balance in the investment account before the shares were sold?
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