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Question: Several independent audit or review situations are presented below. Assume that everything other than he situation described would have resulted in an unqualified opinion on the company's financial report.
a. The client will not allow the auditor to view the minutes for the entire year under audit and beyond.
b. The auditor finds that the firm is not independent of the client on the last day of fieldwork.
c. The client declines to include a statement of cash flow in the financial report.
d. The client fails to record an immaterial amount of insurance paid in advance as an asset.
Required: For each of the above independent situations, determine the type of opinion that will most likely be issued by the firm auditing the financial statements.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
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