Refer to the above information below to answer this question. Price Index Year 2015 110 2016 118 2017 127.5 2018 132 What is the inflation rate between 2015-2018? 20 0% 3.5% 32.0%

Q: cost of purchase.

A: Purchase is the taking delivery of the ownership of goods in exchange of consideration paid by the…

Q: Explain how materiality affectsaudit reporting decisions.

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…

Q: Explain when you would issue a reservation of rights?

A: A reservation of rights is generally issued by insurance companies.

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

Q: State the criticism of MM approach.

A: The Markowitz Model (MM), developed by Harry Markowitz in 1952, is a mathematical model that seeks…

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: unqualified is not the correct answer

A: PCAOB standards are those standards which maintain as well as establish the high quality of auditing…

Q: Question: Are count standards and ethical standards the same? TRUE OR FALSE

A: Ethical standards are a set of principles developed by the organization's founding members  to…

Q: What are the possible reasons for keeping incomplete records?

A: Incomplete records:   It refers to a situation where an organization does not use double entry book…

Q: Explain Deficiency Judgment?

A: To borrow funds, borrower might be required to mortgage its property to the lender. In case that…

Q: c is not correct

A: The rate of return on the price weighted index for a period is calculated as shown below. Value of…

Q: can you do it again,please, it is not correct

A: Initial investment = 12,000Nominal rate of interest for first 5 years = 3.7% compounded…

Q: Which statement is correct related to "presumptively mandatory requirements"? O They are identified…

A: Auditing is the examination of the financial reports of the company to ascertain reasonable…

Q: FASB codification provides in one place all the authoritative literature related to a particular…

A: The Financial Accounting Standards Board (FASB) is a private, non-profit organization responsible…

Q: When is independence impaired under PCAOB standards?

A: Independence would be considered to be impaired if a covered member accepts more than a token gift…

Q: What is inshoring?

A: It is the opposite of offshoring. Inshoring is a process wherein the business is moved back from…

Q: Explain in detail Full disclosure principle with example.

A: The full disclosure concept or norm is an idea that allows a company to disclose all basic facts…

Q: Čurrent Attempt in Progress Verifiability is an ingredient of Faithful Representation Relevance Yes…

A: Verifiability is one of the accounting concept that is defined as the ability to cross-check the…

Q: Explain the differences between a warrant and a call option

A: Differences: The nature of the call option is a standardized contract. Whereas, warrants are not…

Q: Can you tell me the difference between confidentiality and privacy? Explain

A: This question tells about the difference between confidentiality and privacy:

Q: How are errors corrected if they're not properly accounted for?

A: The errors can happen as all the things are human oriented. The error can happen as the process of…

Q: Why would a proposal not be accepted

A: A proposal refer to a document containing details of how to implement the plans for achieving the…

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: Explain Charges and Liens?

A: The question is based on the concept of legal terms used to grant security against loan or debt.

Q: Explain the limitations of CAPM.

A: A mathematical model that describes the link between a security's expected return and risk is…

Q: iscuss exclusion clauses, explain it briefly and include example

A: Exclusion clauses Such clauses are found in a contract mentioned under terms and conditions…

Q: How can the owners be disclaimers?

A: A disclaimer is a term utilized to define or restrict the range of duties and rights enforceable in…

Q: How is the term "confidentiality" different from "privacy"? Explain.

A: Answer: The terms Confidentiality and Privacy are different terms. Privacy is all about person and…

Q: What is the difference between 'Neutrality' and 'Prudence'? Please explain/provide an example for…

A: In accounting, the concepts of "neutrality" and "prudence" play important roles in ensuring the…

Q: Briefly describe the NBBO and the order protection rule. Whatregulation implemented them?

A: NBBO is a securities exchange commission regulation that requires brokers to trade at the best…

Q: Which is an error of omission

A: Accounting error is error in entering, computing, and analysis of data. This includes the recording…

Q: Why is EBITDA controversial?

A: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is a metric used to assess…

Q: efine the term materiality and explain why it may be d

A: Materiality is quite important in preparing the financial statement and it is very important to the…

Q: (1) Is COSO relevant for internal control?

A: COSO: The COSO (Committee of Sponsoring Organization) Framework is a structure for planning,…

Q: What is a MIS report, why is it  prepared?

A: MIS is Management Information System. Management information system is an integrated collection of…