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Which of the following is NOT one of the key requirements for auditor independence? A. Auditors must disclose all other written communications between management and themselves. b. Public accounting firms must report if they are providing audit services to any company whose senior officers (Chief Executive Officer, Chief Financial Officer, Controller) were employed by that accounting firm within the previous 12 months. C. Senior auditors on an account are required to be rotated every five years and junior auditors every seven years. D. Specific topics must be established on which the external auditor must report to the client's audit committee.
Q. What is Posting reference column? This column demonstrates the account number of the debited or credited account. For example in Exhibit 8 the number 100 in the first entry
want a question of general jouranal , t account ,traial balance , income statement and balance sheet
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
Q. Explain about Representational faithfulness? Representational faithfulness To increase insight into this quality considers a map. When it shows bridges and roads where roads
How do you do journal entries for an item bought on credit and then later returned and the total selling price was 4,275.
Q. What is Variable cost? Variable cost -- a cost which changes as production or sales change. If a business is producingnothing and selling nothing, variable cost must be zero
How To figure the discount using calculator 1. Be sure that decimal selector is on 2 decimal places 2. Key in amount of the sale 3. Multiply by percent (use the percent key)
Q. Explain about cash discount? In a few industries credit terms include a cash discount of 1 percent to 3 percent to induce untimely payment of an amount due. A cash discount
debit balance
Q. Consistency in accounting principle? Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possi
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