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Problem 1: Which of the following are reasons for the audit profession issuing auditing standards?
(i) To ensure consistency of audits across different firms
(ii) To provide bureaucracy for auditors
(iii) To ensure quality in the standard of audits performed.
a) All of them
b) (i) and (ii) only
c) (i) and (iii) only
d) (ii) and (iii) only
McPherson expected to complete the building by December 31, 2012. Compute the avoidable interest on this project
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adjusting entries are required at the end of the period to ensure that accrual accounting principles are applied. the
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In the month of June, Paula's Beauty Salon gave 3,800 haircuts, shampoos, and permanents at an average price of $32. During the month, fixed costs were $17,664 and variable costs were 77% of sales.
Orange Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company's asset in that country. If expropriation is reasonably possible, a loss contingency should be:
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Change if the passive loss is only 320,000 rather than 333,000?
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Prepare the reconciliation of the governmental fund balances to the net position reported for governmental activities on the Statement of Net Position as of December 31, 2015
Name three ways you would consider improving the process for performance appraisal at this company.
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