The umbrella word used to describe payments for the usage of resources is Factor payments. Hence, Option D is correct.
What is factor payment?Factor payments in economics are the compensation that individuals receive for providing the factors of production—land, labor, capital, or entrepreneurialism. Payments made with limited resources or production inputs in exchange for useful services.
Rent, wages and salaries for work, interest and dividends are the factor payments received for land, labor, and capital, respectively. It describes one method for determining GDP using income.
The factor income technique, also referred to as the "income approach," calculates GDP by adding employee wages, rent, interest, and profit. Payments provided to production factors, such as rent, interest, profit, wages, etc., are referred to as factors payments.
Thus, Option D is correct.
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Diving Fiasco. Mike, who owns a dive shop in the United States, decides to take a group of his customers diving in U.S. waters. Mike is aware that sharks occasionally visit the area where the divers will be visiting. He is also aware that, while stingrays are usually tame, they can become aggressive when fed. Mike does not reveal that information to the group of divers going with him. The divers go down into the water, and some have squid with which to feed the stingrays. During the dive, one of the stingrays becomes agitated and latches onto diver Susie's arm. Susie is so disconcerted that she drops her regulator (her breathing device) from her mouth and is in considerable difficulty. Another diver, Billy, encounters a shark, which snaps at him. While the shark does not actually bite Billy, the attack results in damage to his diving equipment. Mike, who is in charge of the dive, does nothing to help and leaves the other divers to return to the boat because the dive turned out to be more trouble than expected. Wendy, another diver on the trip, also returns to the boat without doing anything to help the divers in distress. Sam, on the other hand, goes to rescue the divers who are in distress. He manages to do so but in the process he pulls his back and requires medical care. All divers are very unhappy with Mike. Which of the following is true regarding whether Wendy and Sam had a duty to come to the assistance of the divers in peril?
A. Neither Wendy nor Sam had a duty to aid the divers in peril.
B. Wendy and Sam had a duty to aid the divers in peril, but only if Mike refused to do so.
C. Wendy and Sam did not have a duty to aid the divers in peril, unless they were the first to observe the problem. Wendy and Sam had a duty to aid the divers in peril, but only if they were acquainted with them before the dive.
D. Wendy and Sam had no duty to help strangers. Wendy and Sam had a duty to aid the divers in peril if personal safety was involved, but not O if the only issue was damage to property
Answer: A. Neither Wendy nor Sam had a duty to aid the divers in peril.
Explanation:
Sam and Wendy were simply customers of Mike in this scenario and so could not be reasonable expected to take over his duties to oversee the dive which he initiated and was aware of the risks of.
They therefore did not have a duty to aid the other divers especially given the fact that they did not know the risks involved in diving in that particular area. The only person who had an actual duty to rescue the divers is the company or person that took the people on the dive which in this case was Mike.
Do you think the directors of tgh word right to target a niche market or should they just sell sports shoes to a market? Justify your answer
What is the difference between economic profit and producer​ surplus? A. Economic profit includes opportunity costs but producer surplus does not. B. Producer surplus includes variable costs but economic profit does not. C. Economic profit includes fixed costs but producer surplus does not. D. Economic profit includes marginal costs but producer surplus does not. E. Economic profit includes government taxes but producer surplus does not.
Answer:
c
Explanation:
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
Economic cost is accounting profit less implicit cost
Accounting profit= total revenue - explicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
The acquisition cost of a plant asset does not include multiple choice incidental costs, such as title fees, sales commissions, legal fees, and so on. repair costs resulting from damage to the plant asset while it was being unpacked. all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. costs incurred to modify or customize the new plant asset.
Answer:
The answer is ' repair costs resulting from damage to the plant asset while it was being unpacked'
Explanation:
The acquisition cost of a plant asset does not include repair costs resulting from damage to the plant asset while it was being unpacked. Why? - Because this doesn't lead to the improvement of the asset.
Acquisition costs comprise the commission paid, legal fees, cost of improving the assets and all necessary cost paid to get the assets running.
The government passes a law that allows a substantial subsidy for every acre of land used to grow tobacco. How does this program affect the long-run supply curve for tobacco? The long-run supply curve for tobacco will A. shift to the right because the price of tobacco will increase. B. shift down because . C. shift because tobacco production will become profitable. D. not change because the minimum long-run average cost of production will not change. E. become instead of horizontal because the costs of inputs will change.
Answer: C. shift right/ out because tobacco production will become profitable.
Explanation:
Subsidies reduce the cost of using something because the government would sponsor it. The cost of farming tobacco will therefore reduce in this instance. Tobacco companies will therefore incur less cost to acquire tobacco and so will start making more profit.
This will encourage other firms to come into the tobacco market as time goes on. As more firms enter, there will be a larger supply of tobacco. The supply curve will then shift right to depict this.
What do safeguarding devices do to protect the worker?
Select the 3 answer options that apply.
Detects operator contact with the machine's point of operation
Prevents operator contact with the machine's point of operation
Answer:
Answer: Prevent contact:
Explanation:
]The safeguard must prevent hands, arms, and any other part of a worker's body from making contact with dangerous moving parts. A good safeguarding system eliminates the possibility of the operator or another worker placing parts of their bodies near hazardous moving parts.
Safeguarding devices prevent or detect operator contact with the point of operation to protect the worker. The correct option is b.
What is a safeguarding device?Safeguarding devices are protective measures consisting of the use of specific technical means, to protect workers from hazards that cannot be reasonably removed or sufficiently limited by design. These devices encompass a variety of equipment that prevents or limits access to the hazards. These can include everything from controls that require the worker to use both hands, gates that block access to moving parts, and sensing devices that identify when the worker is too close to the hazard.
Employers are responsible for safeguarding machines. Any machine part, function or process with the potential for causing an injury must be safeguarded using control methods that prevent employee contact with hazardous areas through effective machine guarding techniques. Almost all new machinery is available with safeguards installed by the manufacturer.
However, used or older equipment may require either purchasing additional safeguards or building and installing them in-house.
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A paper manufacturer is forced to make staff cutbacks because of declining profits. It decides to cut back each employee's hours and pay by one-half day per week rather than laying off two people. Senior managers believe that by allowing all their employees to keep their jobs, they are producing the greatest good for the greatest number of people. Which rule for ethical decision making does this example show
Answer:
Utilitarian
Explanation:
Utilitarianism is a morality theory that advocated the actions in order to foster the happiness and the actions that result harm or unhappiness could be opposed. It is an action that could be right so this would create a happiness for the larger no of people as a group or society as a whole
So as per the given situation, it is a utilitarian theory
Charlotte knows that John's support will be essential in having her proposal accepted by senior management, so she meets with him informally. "I'd like to get your thoughts on the best approach on getting the staff trained on the new software," she says. "What are your thoughts on the next steps I need to take to get management's approval?" Which influence tactic is Charlotte using?
Answer:
consultation
Explanation:
From the question we are informed about Charlotte knows that John's support will be essential in having her proposal accepted by senior management, so she meets with him informally. "I'd like to get your thoughts on the best approach on getting the staff trained on the new software," she says. "What are your thoughts on the next steps I need to take to get management's approval?" In this case, influence tactic is Charlotte using consultation.
Consultation can be regarded as an influence agent's that seeks help from others by directly influencing another person or group. This tactic focuses on ways to gett others so they can participate in a particular planning process as well as making decisions. This tactic also encourage changes. In this tactic the person that is needed to make participation is first put in good mood before the making of a request, this could be through been friendly or being helpful to him or her.
The unemployment rate may underestimate the true extent of unemployment if: Question 26 options: many part-time employees would like to work fulltime, but are unable to get the additional work. employees increase the number of hours they work overtime. there are a large number of people working in the underground economy. people are pretending to look for work so that they can continue receiving unemployment benefits.
Answer:
there are a large number of people working in the underground economy.
Explanation:
The unemployment rate is the rate of people in the labour force that is without a job but they are actively looking for employment
Types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
If a large number of people are working underground, they would not be counted as part of the labour force and so the labour force would be smaller. This understates unemployment rate
Congress passed the Sarbanes-Oxley Act to ensure that investors invest only in companies that will be profitable. select an option False 2. The standards of conduct by which actions are judged as loyal or disloyal are ethics. select an option True 3. The primary accounting standard-setting body in the United States is the Securities and Exchange Commission (SEC). select an option True 4. The historical cost principle dictates that companies record assets at their cost and continue to report them at their cost over the time the assets are held. select an option True 5. The monetary unit assumption requires that companies record only transactions that can be measured in money.
Answer:
1. False
2. False
3. False
4. True
5. True
Explanation:
1. False: Congress passed the Sarbanes-Oxley Act to ensure that investors invest only in companies that will be profitable.
Sarbanes-Oxley Act of 2002 is a legal framework which was passed by the 107th U.S Congress on the 30th of July, 2002. The law required that investment banking be completely made rid of research analysts who works at a broker-dealer firms, so that the analysts are not influenced to write favorable reports to enhance their potential investment banking businesses.
Hence, it is a federal law that imposes a stiffer penalty for any securities related law break offence by the accountants, auditors etc by mandating strict reforms to the existing securities regulations.
2. False: The standards of conduct by which actions are judged as loyal or disloyal are ethics.
Ethics can be defined as a standard of conduct that judges a person's action as either right or wrong.
Hence, it's a set of both written and unwritten principles, values or rules of moral conduct that guides (governs) human behaviors. Ethics is a reflection that is typically based on identifying what is good or bad, right or wrong and just or unjust with respect to human behaviors.
3. False: The primary accounting standard-setting body in the United States is the Securities and Exchange Commission (SEC).
In the United States of America, the financial accounting standards board (FASB) is the primary accounting standard-setting body.
The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining financial accounting and reporting standards for general guidance of individuals or capital providers such as investors, issuers and auditors.
4. True: The historical cost principle dictates that companies record assets at their cost and continue to report them at their cost over the time the assets are held.
5. True: The monetary unit assumption requires that companies record only transactions that can be measured in money.
. Suppose the market for personal computers in country A is monopolistically competitive. Country A exports as well as imports personal computers from the rest of the world. After full adjustment to the opening of trade, a firm in this industry which enjoys scale economies will: A. receive a higher price for its product. B. receive a lower price for its product. C. enjoy a greater market share. D. ultimately go out of business. __________ 16. The clustering of
Answer: B. receive a lower price for its product
Explanation:
Monopolistic competition is a market structure whereby the elements of both monopoly and competitive markets are combined. In such market structure, there are many producers in the market but they're selling differentiated products.
In this case, due to the fact that there's freedom of entry and exit, there'll be more firms coming into the market due to the supernormal profit which is made at first but in the long run, a lower price will be received for goods and services as there are many sellers in the market. Therefore, a normal profit will be made.
Organizations must continually train their employees because: a. the importance of satisfying certification requirements has increased. b. employees' productivity decreases with time. c. the legislation on providing ethnocentric training to workers has become stringent. d. organizational training has a positive relationship with employee turnover rates.
Answer:
b. employees' productivity decreases with time
Explanation:
In the case when the organization trained to the employees on the continuity basis so this can be done because the productivity of an employees could be decreased as per the time
So in order not to decreased the productivity so the organization trained their employees on continuity basis
Therefore the option b is correct
Select all that apply Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a subsidiary ledger for the Raw Materials Inventory account. provide a subsidiary ledger for the Finished Goods Inventory account. monitor costs incurred to date and to predict and control costs for each job. provide a permanent record for the Cost of Goods Sold account.
Answer:
provide a subsidiary ledger for the finished goods inventory account
monitor costs incurred to date and to predict and control costs for each job
provide a permanent record for the cost of goods sold account
Explanation:
job cost sheet is a recording of all expenses that should be related to the job segment or an individual job.
Also it give the subsidiary ledger for the finished goods. It checks the cost that should be incurred till date and to predict and control the cost. Moreover, it gives the permanenet record for the cost of goods sold
These 3 above statements should be considered
When auditing accounting data, auditors focus on Group of answer choices determining if fraud has occurred. determining whether recorded information properly reflects the economic events that occurred during the accounting period. analyzing the financial information to be sure that it complies with government requirements. determining if taxable income has been calculated correctly.
Answer:
determining whether recorded information properly reflects the economic events that occurred during the accounting period.
Explanation:
Auditng is an independent examination of the financial records of an organisation to determine if the records conform if recorded information properly reflects the economic events that occurred during the accounting period.
It is used to determine if financial records accurately represent the financial position of an organisation in a given period
types of audit : external audits, internal audits, and Internal Revenue Service (IRS) audits.
Cat Chaser. Annette, who is angry because her neighbor, William, allows his dog to chase her cat, decides that she wants to get even. She moves a number of farm animals into her backyard and begins playing music at all hours of the night. She also steals a nice lawn chair off William's deck. She Antends to keep the chalt. Annette further took a rake off William's deck that she plans to return after she finishes raking her leaves. William did not give her permission to take the rake. Willam is unhappy about the whole situation and wants to sue. What claim would William have against Annette for taking the lawn chair?
A. Negligence
B. Conversion
C. Harassment
D. Trespass to personal property
E. Private nuisance
D. trespass to personal property
Do you think it would be ethical for a CPA to have someone else do for them what they are prohibited from doing by the AICPA Code of Professional Conduct?
Answer:
The description of the given question is described in the below section.
Explanation:
CPA is responsible for raising its opinion against another unethical conduct. An individual can't bear his/her responsibilities by enabling staff to act unethically besides stating that it is not a contribution to knowledge.Whether this is damaging to certain other persons as well as the organization stakeholder, this same CPA should take appropriate harsh measures against these employees.Carlos tiene $40.00 para gastar a la semana en almuerzos y copas de vinos. El precio de cada almuerzo es de $8.00 y el precio de cada copa de vino es de $4.00.
La siguiente tabla presenta la utilidad total de Carlos relacionada con los almuerzos y las copas de vinos.
Answer:
Carlos gastará $12.00 al día para almuerzos y copas de vino.
While traveling on a commercial bus line, a passenger was injured when some luggage fell on him. As required by applicable state law, the bus company's in-house attorney conducted an investigation and filed the required report with the state transportation department. The passenger subsequently filed a civil action against the bus company in federal district court, seeking compensatory damages for the injuries he suffered. During discovery, the passenger's lawyer served on the bus company a request for production of documents, including a request for the report that the bus company filed with the state. The bus company objected to the request for the report and refused to produce it on the grounds that the report was privileged and protected from discovery under the work product doctrine. It did, however, produce other documents that were requested. The passenger then filed a motion to compel production of the report. If the court finds that the bus company's claims of privilege and work product were not substantially justified, what orders must the court make relating to the passenger's request for production of the report
Answer: See explanation
Explanation:
In a situation whereby the attorney of the passenger tried resolving the dispute in good faith, then the bus company must be ordered by the court to produce the report as well as the payment of reasonable cost that was incurred in making the motion.
It should however be noted that such cost may not be awarded when the movant had filed the motion before obtaining the disclosure in good faith. Also, the cost with be given when the nondisclosure response of the opposing party was justified.
Suppose that an economy consists of only two individuals. Jeremy has $1690 available to spend on goods. He decides to purchase $470 worth of produce from Michele in the current quarter. No other economic activity takes place during the current quarter. Using this information, answer the questions. For the current quarter, what is the economy's income?
Answer:
$470
Explanation:
The calculation of the economy income is given below:
Since $1,690 spend on goods and then he decided to purchase for $470 in order to generate it
So here we can see that there is one and only economic activity that took place at the present quarter that is of $470
Therefore the economy income is $470
Susan has three credit cards - 1) an Old Navy card she got her last year of high school and now doesn't use that much, 2) a Visa card she got while in college and pays an $50 annual fee for benefits she doesn't use that much, and 3) a Mastercard she opened last month which has no annual fees. Susan has decided that she only needs two credit cards, which one should she get rid of
Answer: Visa card
Explanation:
Since Susan has decided that she only needs two credit cards, then she should keep the old Navy card she got her last year of high school and the Mastercard that she opened last month which has no annual fee.
In this case, since she doesn't use the Visa card that she got while in college and th e card pays an $50 annual fee for benefits that she doesn't use that much, thus means that the card isn't beneficial to her. Therefore, she should get rid of the Visa card.
A tile manufacturer has supplied the following data: Boxes of tiles produced and sold 520,000 Sales revenue $ 2,132,000 Variable manufacturing expense $ 650,000 Fixed manufacturing expense $ 464,000 Variable selling and administrative expense $ 260,000 Fixed selling and administrative expense $ 312,000 Net operating income $ 446,000 What is the company's unit contribution margin
Answer:
unitary contribution margin= $2.52
Explanation:
First, we need to calculate the total variable cost:
Total variable cost= Variable manufacturing expense + Variable selling and administrative expense
Total variable cost= 560,000 + 260,000
Total variable cost= $820,000
Now, the unitary variable cost and the selling price:
unitary variable cost= 820,000 / 520,000= $1.58
Selling price= 2,132,000 / 520,000= $4.1
Finally, the unitary contribution margin:
unitary contribution margin= selling price - unitary variable cost
unitary contribution margin= 4.1 - 1.58
unitary contribution margin= $2.52
Investigar:
¿Qué es la factura?
¿Qué es la Nota de venta?
¿En que momento se usa la factura?
¿En que momento se usa la nota de venta?
¿Por qué el bazar del barrio no da factura ni nota de venta?
CONVERSE CON EL SEÑOR DEL BAZAR DE SU BARRIO PARA CONOCER QUE DOCUMENTOS DEBE TENER PARA QUE EL FUNCIONAMIENTO DE SU NEGOCIO SEA LEGAL Y CORRECTO
La respuesta correcta para esta pregunta abierta es la siguiente.
Desafortunadamente, no especificas a qué país te refieres, ya que cada país tiene un régimen fiscal distinto, y los comercios están obligados a declarar impuestos de acuerdo a la legislación vigente en cada país.
Para poder responder a tus preguntas, lo haremos en términos generales ya que no mencionas cuál es tu país.
¿Qué es la factura?
La factura es el comprobante oficial al que obliga el gobierno, a través de la Secretaría de Hacienda y el Servicio de Administración Tributaria (SAT). La factura es el comprobante oficial que respalda la compra-venta de un artículo, producto o servicio, y donde se demuestra que se cobro el impuesto por la adquisición de la mercancía.
¿Qué es la Nota de venta?
La nota de venta es un comprobante de control interno que no tiene validez oficial para comprobar el consumo y el cargo del impuesto. La nota de venta sólo la ampara el mismo negocio que la elaboró, el sistema de administración tributario.
¿En que momento se usa la factura?
La factura se usa cuando se requiere elaborar un comprobante oficial que posteriormente pueda ser usado en la declaración mensual de impuestos o en la declaración anual, para que se puedan deducir los impuestos retenidos.
¿En que momento se usa la nota de venta?
Cuando sólo se quiere entregar un comprobante de compra, sin aplicar el impuesto al valor agregado.
¿Por qué el bazar del barrio no da factura ni nota de venta?
Porque probablemente es un pequeño comercio, y no está obligado a facturar. Sólo a dar comprobantes. Los pequeños comercios tributan o pagan impuestos de manera diferente. Son considerados pequeños contribuyentes y por lo regular se les asigna una cuota fija, siempre y cuando no rebasen una cantidad establecida por la autoridad hacendaria.
Platicando con el dueño de la papelería del barrio, él me comenta que el municipio sólo le pido una licencia de uso de suelo para que pueda operar su negocio. Esa licencia de funcionamiento tiene un costo único que debe ser renovad anualmente. El es pequeño comerciante y debe pagar una cuota fija de manera trimestral.
Suppose that Sandy owns a farm in North Carolina and Pat owns a farm in lowa, and Sandy's farm is generally more productive than Pan's. If both Sandy and Pat sell their com in the same market Sandy should produce the output at the marginal cost that is
A. equal to the marginal cost of Pars production
B. greater than the marginal cost of Pat's production
C. less than the marginal cost of Pat's production
D. equal to total revenue in the market
Answer:
A. equal to the marginal cost of Pars production
Explanation:
In the case when both sandy and pat sold their come in the similar market so here sandy should generated the result at the marginal cost that should be equivalent to the pat marginal cost of production
So as per the given situation, the option a is correct
And, the rest of the solutions are considered to be wrong
A business statistics course has 2 accounting majors, 4 finance majors, 6 marketing majors, and 8 insurance majors. Which one of the following is true if a pie chart was constructed to depict majors of students? Multiple choice question. The marketing slice would be three times as big as the accounting slice. The slice for accounting would represent 20% of the pie chart. The slice for insurance would make up more than half of the pie chart. The slice for marketing majors would be two times as big as the finance slice.
Answer: The marketing slice would be three times as big as the accounting slice.
Explanation:
The total number of majors are:
= 2 + 4 + 6 + 8
= 20 majors
The proportions of the majors are:
Accounting = 2 / 20 * 100% = 10%
Finance = 4 / 20 * 100% = 20%
Marketing = 6 / 20 = 30%
Insurance = 8 / 20 = 40%
Notice how marketing takes 30% and Accounting takes 10%.
Marketing will therefore take up three times as much slices as Accounting.
In his speech the previous day, the new CEO had discussed his experience in the industry and his education. Carrie thought that the new CEO would do a great job given these characteristics, coupled with his good oratory skills and the fact that he just looked like a CEO. Carrie realized that she had been judging the new CEO in a manner consistent with the
Answer:
trait
Explanation:
Trait leadership means the personal attribute pattern that could be integrated and the same should be reflected the individual differences range also it foster the consistency leader effectiveness for different group and the organization situation
so as per the given situation, it is a trait leadership theory
The same should be considered and relevant
Higher uncertainty of losses forces property-casualty firms to _________. A. invest in more short-term assets than life insurance firms. B. invest in more long-term assets than life insurance firms. C. hold a lower percentage of capital and reserves than life insurance firms. D. invest in riskier equity securities than life insurance firms. E. conduct more separate accounts business than life insurance firms.
Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a permanent record for the Cost of Goods Sold account. monitor costs incurred to date and to predict and control costs for each job. provide a subsidiary ledger for the Finished Goods Inventory account. provide a subsidiary ledger for the Raw Materials Inventory account.
Answer: • provide a permanent record for the cost of goods sold account
• monitor costs incurred to date and to predict and control costs for each job.
• provide a subsidiary ledger for the finished goods inventory account.
Explanation:
Job cost sheet refers to the document that is used for the recording of the manufacturing costs and it is used as a subsidiary ledger for the work in process account due to the fact that it contains every details about the job in process.
From the options given, the job cost sheets can be used to:
• provide a permanent record for the cost of goods sold account
• monitor costs incurred to date and to predict and control costs for each job.
• provide a subsidiary ledger for the finished goods inventory account.
Blossom Company purchased equipment on January 1 at a list price of $100000, with credit terms 2/10, n/30. Payment was made within the discount period. Blossom paid $3000 sales tax on the equipment and paid installation charges of $1500. Prior to installation, Blossom paid $3000 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment
Answer:
the total cost of the new equipment is $105,500
Explanation:
The computation of the total cost of the new equipment is given below:
Total cost of the new equipment is
= Net price + Sales tax + Installation charges + Payment for concrete slab
= [$100,000 - ($100,000 × 2%)] + $3,000 + $1,500 + $3,000
= $105,500
Hence, the total cost of the new equipment is $105,500
Which of the following is a correct statement regarding the standard unmodified opinion audit report? Group of answer choices The auditor's responsibility paragraph includes a statement that the auditors are responsible for selecting the appropriate accounting principles. The format of the audit report for public and nonpublic entities are identical. The audit report includes the name of the lead partner on the audit. The auditor's responsibilities paragraph includes a statement that the auditor considers internal controls when designing the audit procedures performed.
Answer:
The auditor's responsibilities paragraph includes a statement that the auditor considers internal controls when designing the audit procedures performed.
Explanation:
Standard-Unmodified Opinion Audit Report
This form of Standard is simply known as the uniform wording ofte used in audit reports while Unmodified opinion simply means that the auditor's opinion about the financial statements contains no material exceptions or qualifications. Standard Unmodified Opinion Audit Report is virtually needed by private Company.
Auditor's Responsibility
The responsibility of an auditor is to express an opinion on financial statements based on audits made. Audits conducted in accordance with auditing standards is generally accepted in the United States of America. Those standards require that auditor plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
The conditions for Standard Unmodified Opinion Audit Report includes;
1. All financial statements inclusive
2. Sufficient appropriate evidence accumulated
3. Financial statements are presented fairly in accordance with GAAP or other framework etc.
explain two sector model with saving and investment.
Answer:
sector economy, there are only two sectors of the economy, are , household sector and business sector.
