Identify which of the major fundamental principles (responsibilities, performance, or reporting) is most closely related to each of the following:
1. the need for auditors to consider their financial relationships with prospective clients.
2. an auditor has raised some question with respect to management’s response to various inquiries concerning pending litigation facing the client.
3. the auditors’ consideration of the effectiveness of the entity’s internal control on the nature, timing, and extent of substantive procedures.
4. the auditing’ evolution of the magnitude of a misstatement that would impact perceptions of the entity’s profitability.
5. the auditors’ issuance of a disclaimer of opinion because of a significant scope limitation.
6. relevant education and experience requirement to provide absolute assurance with respect to profession.
7. the inability of an audit examination of provide absolute assurance with respect to detecting all material misstatements.
8. the requirement that auditors possess the skills and knowledge of others in their profession.
9. the preparation of a written audit plan that guides the conduct of the audit engagement.
10. the auditors’ issuance of a qualified opinion because of a departure from gaap.
Answers: 2
Business, 21.06.2019 22:10
3. now assume that carnival booked lady antebellum in december 2016 to perform on the june 2017 western caribbean cruise. further assume that carnival pays lady antebellum its entire performance fee of $52,000 on december 28, 2016, for the june 2017 cruise. what journal entry will carnival make on december 28, 2016, for its payment to lady antebellum?
Answers: 1
Business, 22.06.2019 19:00
Lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal.
Answers: 3
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