Explain whether the characteristics listed in Table 1 can be met simultaneously or else achieving by sacrificing the another.

Q: Explain common principles and limitations of internalcontrol.

A: Internal Control is a concept which ensures management to to safeguard its assets. Internet control…

Q: Label each of the following statements as either true (“T”) or false (“F”). An opportunity cost is…

A: Answer:   True.

Q: Discuss how conceptual and physical systems differ and which functions are responsible for each of…

A: Accounting Information System: The accounting information system refers to a system which helps in…

Q: Along what two dimensions can we classifytrading procedures?

A: Trading procedures: It is the methods and available venues from where trading (Buying and selling of…

Q: Explain both in detail

A: Question  1   An information is said to be material if it changes the decision of the users of…

Q: Differentiate between essential and nonessential activities.

A: Production: Production activity consist use of fixed and variable resources to produce final…

Q: Under what conditions are the results from using the direct method of allocation the same as those…

A: Allocation of Cost = Cost allocation is a Cost accounting Process in which organisation identify the…

Q: Discuss and explain the meaning of right offerings and their advantages.

A: Right issue refers to giving a right to existing shareholders to subscribe additional shares in…

Q: Answer of the following question related to these characteristics and constraints. In general,…

A: Relevant information is data that can be applied to solve a problem. The relevance concept can mean…

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

A:

Q: How can you partically alleviate the various drawbacks of IRR?

A: Internal rate of return (IRR) is one of the capital budgeting techniques which is used to measure…

Q: Discuss the differences between the attest function and advisory services.

A: An attest service, or consulting service is an associate freelance review of a company's financial…

Q: Highlight concept of faithful representation and is it valid or not?

A: The concept of Faithful representation advocates that the financial statements and information…

Q: According to PFRS 15, a good or service is distinct if

A: IFRS stands for International financial reporting standards. These are Accounting standards issued…

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: What are two advantages of ADR? List and provide an example for each.

A: ADR refers to the American Depositary Receipt. ADR is a negotiable certificate which represents a…

Q: Define the term Multiple Peril?

A: Multiple-perilIt is the insurance coverage package for small and commercial businesses. It is the…

Q: Define synergistic benefits

A: Synergy is the concept according to which the value of the firm after combining with each other is…

Q: What is one objective of an appraisal program? a. having tho

A: What is the one Objective of an appraisal program ? a. having the employee feel more valued  b.…

Q: Explain the difference between independent and mutually exclusive projects?with examples..

A: Independent Project Independent project means the execution of the project with its cash flow will…

Q: Explain three common approaches of system cutover. Also describe their advantages and disadvantages.

A: System cutover:   System cutover is defined as the conversion of data from old systems to the new…

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: Explain the difference between independent and mutually exclusive projects?

A: Under capital budgeting, there are 2 types of projects selection basis: 1. When projects are…

Q: Explain Handling Unequal Service Lives?

A: The two projects compared has unequal project lives. Such projects are handled by two…

Q: Differentiate essential and non essential activities.

A: There are various types of activities that are performed in an organization in order to achieve the…

Q: For each of the following pairs of information characteristics, give an example of a situation in…

A: Financial accounting:- Financial accounting includes recording, collecting, summarizing and…

Q: What three types of objectives are the focus of internalcontrol?

A: Definition: Internal Control is a procedure that provides reasonable assurance that material…

Q: Describe the evaluation techniques to consider multiple projects that are mutually exclusive?

A: Following are the evaluation techniques to consider multiple projects that are mutually exclusive:…

Q: Define impairment? Give an example?

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

Q: Name two items classified as prevention costs.

A:

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: Which of the following is not a dimension of designquality?A. CustomizationB. ServiceabilityC.…

A: The design quality is a technique that helps to serve as a strategic analysis. Its helps the…

Q: What are the three primary CBIS functions that must be separated?

A:

Q: ist and define the enhancing qualitie

A: The goal of financial statements is to provide information on the organization's change in financial…

Q: Why are the realization and matching principles important? Only the importance

A: Accounting principles: These are the assumption, concepts, and guidelines necessary to prepare and…

Q: Define duality.

A: Duality is related to happening of an economic transaction. This concept arises when any transaction…

Q: Explain the double entry mechanism with an illustrative example.

A: The transactions are recorded in the books of accounts initially in the form of journal entries…