Why should the person who keeps the records of an asset not be the person responsible for its custody?

Q: Explain the Costs of Defending Intangible Rights.

A: Intangible assets are the assets that cannot be seen physically, but its' presence in business have…

Q: Which are the Methods of Title Assurance?

A: The methods of title assurance are as follows: Title covenants Title opinion based on public record…

Q: what are the Benefits and Costs of Delinquency In the field of lending

A: Whenever a customer does not meet their obligation, a cost aries as the payment on the credit sales…

Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: How can be Preservation and Maintenance of the Property can be done?

A: Preservation and Maintenance of Property can be done as follows: The borrower of the property…

Q: What is the primary difference between a material misstatement due to fraud or error?

A: Fraud: Fraud refers to an intended attempt to misrepresent financial statement of an entity in order…

Q: What causes people to commit occupational fraud?

A: Answer:Causes of occupational fraud by people are listed below:Financial pressures:Financial…

Q: What is meant by depreciable base? How is it determined?

A: Depreciable base: The word depreciable base is used to depict the value that is divided by the…

Q: Why would refinancing be an alternative to sale of the property?

A: Individuals always buy the properties taking the mortgage because payment for buying the property…

Q: Should the engineers be able to assess the reality of depreciating fixed assets?

A: A company should assess the position of its fixed asset and check for its impairment if condition…

Q: What is the primary purpose of analyzing interest expense? Giventhis purpose, what primary…

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: When does an agency problem happen?

A: Agency problem is the probelm of difference in opinion of management and the shareholders.

Q: Indicate which statements are true and which are false. Internal control procedures should be…

A: Internal Control system is used by managers for monitoring and controlling business activities. It…

Q: What are the two primary reasons for using preemptive rights?

A: The right of the shareholders of a company to buy additional shares in any future issue of the…

Q: What functions should be separated to segregaterecord keeping from asset custody?

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: Are Inventories depreciable property? Why?

A: Depreciable property means an asset which is eligible to book depreciation for accounting and tax…

Q: If what is promised is only the use of a specific thing which does not include its ownership, the…

A: The contributing partner is the partner of the partnership business which has contributed something…

Q: What are the requirements of depreciating an asset?

A: Depreciation is a non-cash expense which is charged against the use of the fixed assets of the…

Q: Why are external documents considered more reliable evidence than internal documents? What aspects…

A: External evidence is seen as more credible than internal evidence since it has passed through the…

Q: With an example each, distinguish between fraudulent financial

A: Fraudulent financial reporting Fraudulent reporting coverage refers to a statement or omission…

Q: Which are the Limitations on Property Rights?

A: Property rights are the rights given to the owner as per law to hold or own a property. A property…

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: Is the nature of the gainor loss considered ordinary or long-term?

A: Ordinary gain or loss means any income which doesn't result as Capital gain or loss. Capital Gain or…

Q: Indicate which of the following claims is true and which is untrue. Separating asset recordkeeping…

A: It tells about weather the given statement is true or false.

Q: Explain how securitisation works and what the role is of each party involved during the process

A: Financial securities are the instruments that are used by investors to invest their funds and money…

Q: what is a validity check?

A:

Q: Why is it crucial to the integrity of the financial statements that the fixed asset department be…

A: Fixed Asset System:   The asset used by company for more than one year is known as fixed asset.…

Q: Why does the so-called distressed property situation exist?

A: Distressed property refers to those which have value less than the market value. This situation…

Q: What is underpricing? Why is it used? What evidence do we have to support the belief that…

A: Underpricing is a common term used in Initial public offering of shares of a private company which…

Q: do COSO Internal Controls prevention fraud?

A: Internal controls are the policies and procedures put in place to protect your company's assets,…

Q: What does fraud includes?

A: Fraud:   It is the practice of intentional misrepresentation of facts to make financial or personal…

Q: Can a updated check be an negotiable instrument

A: Negotiable instrument refers to the instrument which guarantee the payment of particular amount that…

Q: What challenges are there to the claim of ownership of facts about oneself? Are “cookies” an…

A: Some of the challenges to claim ownership are: 1) Social environment: If the fact is against the…

Q: The mere existence of a related party should be disclosed despite of not having any transactions…

A: A related party may directly or indirectly affect the profit of the entity even if no transactions…