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Q. What do you mean by Reasonable Assurance?
Reasonable Assurance - Management's assessment of effectiveness of internal control over financial reporting is expressed at the level of reasonable assurance. It involves the understanding that there is a remote likelihood that material misstatements won't be detected or prevented on a timely basis. It is a high level of assurance.
Effect of Resolution The consequences of the resolution to wind up are: 1) The company must cease to carry on its business except so far as is necessary for the beneficial win
Contribution and indemnity Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although
Effect of Winding-up Order The consequences of a winding-up order are: 1) Any disposition of the company's property and any transfer of shares is void, unless the court otherwis
Question: Mada Air Ltd is thinking of diversifying its activities in order to cope with the financial crisis. After careful evaluation its research and development team has pro
Silva and Juanita Rodriquez are the owners of Year-Round Landscape, Inc., a small landscape and yard service business in southern California. The business is three years old and ha
what is the implication of applying accounting concept wrongly
Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
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Do we recognise revenue if it will be assigned to other party ?
Q. Illustrate Accounting ramifications? Accounting ramifications i) Restatement ii) Unable to file on timely basis while go back and determine what periods are effected
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