Business, 21.04.2020 21:54 jasondesatnick
An accountant was asked by a potential client to perform a compilation of its financial statements. The accountant is not familiar with the industry in which the client operates. In this situation, which of the following actions is the accountant most likely to take?
a.
Postpone accepting the engagement until the accountant has obtained an adequate level of knowledge about the industry.
b.
Request that management engage an independent industry expert to consult with the accountant.
c.
Decline the engagement.
d.
Accept the engagement and obtain an adequate level of knowledge about the industry.
Answers: 1
Business, 21.06.2019 23:30
Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable
Answers: 3
Business, 22.06.2019 15:20
Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.
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Business, 23.06.2019 09:00
It will gain you more knowledge, intensify your soft skills, grow your strong work ethics and grow your network and grow your network. what is it ?
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Business, 23.06.2019 10:50
In the context in which your reading material uses the term traffic patterns are
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An accountant was asked by a potential client to perform a compilation of its financial statements....
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