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Unqualified Opinion - AUDIT opinion not qualified for any material scope restrictions nor departures from GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). AUDITOR may issue an unqualified opinion only when there are no identified material weaknesses and when there have been no restrictions on the scope of auditor's work. Also called CLEAN OPINION.
The December 31, 2005, balance sheet of Far Imports includes the following items: The bonds were issued on December 31, 2004, at 97, with Interest payable on June 30 and December 3
Omission to do something which a reasonable man, guided by those ordinary considerations that ordinarily regulate human affairs, would do or doing of something that a reasonable an
EXECUTORS' ACCOUNTS (a) Stewardship : The main object or preparing Estate Accounts is to record the assets which have been entrusted to the "stewards" — the executors — and
A HEALTH SAVINGS ACCOUNT AT FRONTLINE PR Susan Berry just returned from a national conference on compensation and benefits where she attended a session on Health Savings Accou
1. When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts recievable is subtracted from net income. True o
Question: Lucy Kim is in the car hire business. The following information came from her Fixed Asset Register on 31 December 2009: On 31 March 2009, she sold the car wh
General limitations of Net Present Value when applied to investment appraisal NPV is a generally used technique employed in investment appraisal but is subject to a number of r
Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
case laws
Q. Evaluate Break-Even Production units? R.S. Manufacturing Ltd. Budgets production of 3,00,000 units at cost of Rs.10 each. The Fixed costs are Rs.20, 00,000. The selling pric
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