User Account

All Pages

Which is not a procedure to discover unasserted claims

Assignment Help Accounting Basics
Reference no: EM132756874

Problem 1: Which of the following is not a procedure to discover unasserted claims or claims or contingent liabilities?

a. Review of Board of Directors minutes

b. Sending a letter of inquiry to the client's attorney

c. Substantive testing of company accounts receivable

d. Searching newspapers and other periodicals for stories about the client and its industry

Problem 2: When the financial statements contain material but not pervasive misstatements because the accounting policies selected are not consistent with the applicable financial reporting framework, the auditor should

a. Express a qualified opinion and describe the matter giving rise to the modification in a separate paragraph immediately before opinion paragraph.

b. Express a qualified opinion and describe the matter giving rise to the modification within the opinion paragraph.

c. Express an unqualified opinion because the effects of the material misstatements are not pervasive.

d. Disclaim an opinion and describe the matter giving rise to the modification in a separate paragraph.

Reference no: EM132756874

Questions Cloud

When shall an auditor express an adverse opinion : When shall an auditor express an adverse opinion? The auditor, having obtained sufficient appropriate audit evidence, concludes that misstatements
Which statement concerning the two broad financial reporting : Which statements concerning the two broad financial reporting frameworks for comparatives is correct? Under the comparative financial statements framework
What are the most important elements of business plan : What are the most important elements of a Business Plan? Why? What other elements should be added to the Business Plan to encourage potential investors?
List the computing resources normally provided with paas : List the computing resources normally provided with PaaS. Assume your company must deploy a .NET solution to the cloud. Discuss the options available.
Which is not a procedure to discover unasserted claims : Which is not a procedure to discover unasserted claims or claims or contingent liabilities? Sending a letter of inquiry to the client's attorney
Estimate the change expected in the bond price : The investment face value is $1,000 and the yield to maturity is 9% per annum. Use the duration measure to estimate the change expected in the bond price
Project goals in context of change management : Define the project goals in the context of change management.
What the auditor should first : Auditor discovered that the engagement personnel failed to confirm several of the client's material accounts receivable balances. The auditor should first
What price must you expect evco stock to sell : What price must you expect Evco stock to sell for immediately after the firm pays the dividend in one year to justify its current? price

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd