Explain the difference between external events and internal events. Give an example of each type of event.

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

Q: tutes an AD

A: Introduction : An ADT can be understood as the programmer-defined type having the following…

Q: What are ADRs?

A: Answer: An American depositary receipt (ADR) is a negotiable asset that denotes a non-US company…

Q: When there is agreement between a measure or description and the phenomenon it purports to…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: What is Materiality?

A: Audit is the examination conducted by the professional (auditor) on the financial statements and…

Q: Describe about the intuitive approach?

A: Supervisors regularly depend on models and intuition to make fast decisions. Intuitive decision…

Q: is a “look through entity”

A: Look-Through Entity: Look-Through Entity suggests that an individual that's registered under the…

Q: Explain the difference between the two types of subsequent events.

A: Subsequent events refers to events which occur after the end of reporting period but before…

Q: Distinguish between an activity’s trigger and its root cause. Give an example of each.

A:

Q: Define agency conflict

A: Agency conflict denotes to the conflicts that arise between the agent and Principal. In the finance…

Q: What is an attestation engagement?

A: Attestation Engagement: An association between the client and the certified public accountant where…

Q: Discuss how the different between conceptual system and physical system and which function are…

A: Accounting Information System:  AIS collects, records, stores and processes accounting and other…

Q: What are two objectives that enable reports to be considered useful?

A: Report: It can be defined as the document that assists the users and the management in providing…

Q: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: explain the specific identification approach

A: Introduction:   Inventory valuation is an accounting practice used by businesses to determine the…

Q: What’s the AMT, and what is its purpose?

A: The main purpose of AMT is to set a limitation on the tax payers who may be making use of the excess…

Q: Can two different entities have the same defining attributes? Explain.

A: Entity in the context of database management implies anything regarding which data is required to be…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: Explain the differences between planning, directing, and controlling.

A: Planning: It means thinking in advance what to do, when to do and how the actions would take place…

Q: Explain what is meant by the term “system”. How do subsystems, systems and systems of systems…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: Explain the relationship between cardinality and association.

A:

Q: Explain FLSA and its purpose.

A: FLSA stands for fair Labor Standards Act. It is an act that aims at protecting the interest of…

Q: Distinguish between association and cardinality.

A: Definition: Database management: Database management refers to the management of databases held…

Q: What is the full form of ERP? Explain ERP with examples?

A: ERP means Enterprise Resource Planning, it is a process management software used by organizations to…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: Differentiate between applied and actual FOH with two examples, support your response with…

A: Overhead are those expenses which are not directly consumed to make a product or render service but…

Q: In general, relevant information possesses which qualities?

A: Relevance is an important characteristic of accounting information. It refers to how helpful the…

Q: Define the term Force account?

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: briefly, what is the role of the clearinghouse, and is it important?

A: Clearance is very important to meet buyers with sellers and to make transactions possible between…

Q: Define impairment? Give an example?

A: Impairment: The intangible assets which have indefinite lives are not amortized but are tested…

Q: Define Ethics.

A: Ethics are a set of moral principles they affect how people in a society make decisions and how…

Q: Distinguish between responsibility, authority, and accountability.

A: Responsibility: When a sub-ordinate is obligated to perform the duties assigned to him, it becomes…

Q: mples) through w

A: The Agency systemThe Agency device may be very popular in the modern-day commercial enterprise…

Q: Distinguish between the two general types of subsequent eventsand explain how they differ. Give two…

A: Auditing: Auditing is an independent examination of financial statements. The set of financial…

Q: What are support events?

A:

Q: Explain what is meant by the decision pattern ?

A: Decisions patterns is how decisions are made what is psychology behind the decision making.

Q: Answer of the following question related to these characteristics and constraints. When there is…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Differentiate between the direct method and the indirect method by discussing each method

A: Definition: Statement of cash flows: This statement reports all the cash transactions which are…

Q: Difference Between Traceability and Controllability? Explain briefly in points.

A: Traceability and controllability are two concepts used in cost accounting. These are the forms of…

Q: 1. What are externalities?

A: Comment-  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…