When auditing a clients asset that is valued at fair value, would the auditors expect that asset
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (18 reviews)
The approach is basically an exit value that is a sal...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
Question Posted:
Students also viewed these Auditing questions
-
When auditing the revenue and collection cycle, auditors normally select balances to con-firm from the a. Sales journal. b. Accounts receivable listing. c. General ledger. d. Cash receipts listing.
-
When auditing account balances of liabilities, auditors are most concerned with managements assertion about a. Existence. b. Rights and obligations. c. Completeness. d. Valuation and allocation.
-
When a fair- valued asset is sold to outsiders, what is the disposition of the fair-value increment when the statements are consolidated in the year of the sale? What is the disposition of the...
-
1. Given the image of the circle, identify the length of the radius, diameter, and circumference. Also, find the area. Make sure to show work (area and circumference) to receive credit. Choose a...
-
So you're on a run of bad luck, and you slip quietly into a small, calm pool as hungry crocodiles lurking at the bottom are relying on Pascal's principle to help them to detect a tender morsel. What...
-
Steep safety ramps are built beside mountain highways to enable vehicles with defective brakes to stop safely. A truck enters a 750-ft ramp at a high speed v0 and travels 540 ft in 6 s at constant...
-
A toroid carries a current \(I\) and has \(n\) circular windings per unit length measured along the inside edge of the windings. The radius of each circular winding is \(R_{\text {winding }}\), and...
-
The cash data of Duffy Automotive for July 2016 follow: Duffy Automotive received the following bank statement on July 31, 2016: Additional data for the bank reconciliation include the following: a....
-
22 22 The atomic number of an element T is 10. T shows similar properties to an element with atomic number 23. 24. A. 14 B. 16 C. 18 d. 20 The electron configurations of elements W, X, Y and Z are...
-
On January 1, 2018, Brooks Corporation exchanged $1,183,000 fair-value consideration for all of the outstanding voting stock of Chandler, Inc. At the acquisition date, Chandler had a book value equal...
-
In deciding upon the type of evidence to be gathered in support of a given item on the financial statements, the auditors should not be influenced by the differences in cost of obtaining alternative...
-
What disclosures should be made in the financial statements regarding material related party transactions?
-
The stock chart shows the 3-day, 5-day, and 10-day SMA for 16 consecutive trading days of General Electric Co stock. Examine days 6-16. Identify the crossovers and discuss the implications. oHy 50 48...
-
Make a presentation on Professionalism at work points should be covered ( Interaction with foreign visitors ,inter-organizational etiquettes) make at least 1o slides
-
Describe how you can identify learners who experience barriers to reading due to the following undeveloped perceptual skills: Spatial orientation (5) Laterality (5) Directionality (5) 2 Briefly...
-
The following linear demand specification is estimated for Conlan Enterprises, a price-setting firm: Q=a+bP+CM+dPR where Q is the quantity demanded of the product Conlan Enterprises sells, P is the...
-
(a) Convert the following C++ code from while-loop to for-loop, such that it gives the same output. [6 Marks] int i; while (true) { cin >> i; if (i == 7) break; cout < < i * i ; += 3; }
-
After watching the video (A short history of Indians in Canada) through the link below. https://vimeo.com/226936046 Write a short paragraph (100 words) about your first impression of the story "A...
-
A hydrogen atom in its 1st excited state drops down to its ground state emitting a photon in the process. Calculate the wavelength of that photon.
-
The first law of thermodynamics is sometimes whimsically stated as, You cant get something for nothing, and the second law as, You cant even break even. Explain how these statements could be...
-
Using Table 14.1 as a guide, do the following: A. Identify a topic for a presentation. B. Write how you could use each type of attention-getter: rhetorical question, vivid example, dramatic...
-
Describe how the auditor verifies the accuracy of the aged trial balance.
-
List and discuss the three factors mentioned in the chapter that may affect the reliability of confirmations of accounts receivable.
-
Distinguish between positive and negative confirmations. Under what circumstances would positive confirmations be more appropriate than negative confirmations?
-
For each ordered pair, determine -6x+7y=2 7x-4y=6 a solution to the system of equations.
-
Review the meaning of the concepts or terms given in Key Terms and Concepts. Distinguish between a production department and a service department. Distinguish between a direct cost and an indirect...
-
What would you like the members of your learning community to know about your global health interests, perspectives, and life experiences? How will you prepare to listen and learn from others? Why...
Study smarter with the SolutionInn App