The audit report is important to the audit opinion formulation process since it communicates relevant information to the financial statement users, both internal and external, resulting from the audit. a. True b. False

Answers

Answer 1

Answer:

Answer:

A) True

Explanation:

Auditing standards require that the auditors state whether the financial statements are presented fairly in accordance to financial reporting regulations. The auditor must provide his/er opinion based on his/her findings, or state that an opinion cannot be given.

Financial statement users, both internal (top management and board of directors) and external (investors, shareholders, banks, IRS, SEC and other government entities) rely on the auditor's statement regarding the fairness or not of the financial statements.

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Pens are normal goods. What will happen to the equilibrium price of pens if the price of pencils rises, consumers experience an increase in income, writing in ink becomes fashionable, people expect the price of pens to rise in the near future, the population increases, fewer firms manufacture pens, and the wages of pen-makers increase?

Answers

Answer: Equilibrium price rises.

Explanation:

(a) Pen and pencil are substitute goods. So, if the price of pencil increases the demand for pens increases which shifts the demand curve rightwards and hence, equilibrium price rises.

(b) There is a direct relationship between the income of an individual and demand for normal goods. If there is an increase in the income of the consumer as a result demand also increases which increases the equilibrium prices.

(c) Writing in ink becomes fashionable, people expect the price of pens to rise in the near future and the population increaseswill lead to increases the demand for pens which which shifts the demand curve rightwards and hence, equilibrium price rises.

(d) Wages of pen-makers increase will increase the cost of production and hence increases the equilibrium price of pens.

How do you find the monthly loan payment

Answers

Simply enter the loan amount, term and interest rate to calculate your monthly auto loan payments.

Cause and effect what is likely to happen when consumers hear reports that make them worry about a products safety ? Explain the possible when price rises ?

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the demand of that product decreases only the few who can afford will purchase and the cause of higer prices on aproduct may b due to increement in taxes on acommodity by the gov't

If consumers hear reports that make them worry about a product safety, they are less likely to purchase the product. Consumers want to know that the product they are purchasing is safe for them to consume. If there are elements that question their safety, they may not purchase the item due to not knowing what the side effects may be. If the price rises, I would assume even less people would purchase the product if it’s set at a higher price and with product safety in question.

explain the implications of the following legal requirements on CSI and CRS programmes 1. employment equity act 2.Skills development act 3.Black economic empowerment 4.The national skills development strategy (I.e sector education training and authorities)

Answers

I will write about the importance of the employment equity act. The main purpose of this act is to ensure the equality in the workplace so that no person shall be denied employment opportunities or benefits for reasons unrelated to ability.

The skills development act has the goal of improving the quality of life of the workers and their possibilities of work. This also helps to improve the productivity of the workplace and competitiveness of all the employers.

I hope it helps, Regards.

you are expected to do a presentation of you business plan to a group of potential investors .explain how you would respond to question in a non aggressive and professional manner

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Each business exists due to some discernible opportunities that you have found inside the market. So you should unmistakably characterize the need as well as issue you are unraveling with this business. During a business proposal, you should respond to questions in a non aggressive and professional manner you should speak politely and gently to your potential investors.

Steve Burton recently sold the bookstore he inherited from his mother because his income had fallen three years in a row. The new owner installed a coffee machine, redecorated the children's corner, chats with her customers, and remembers their preferences. She reports a 43 percent increase in sales over Steve's last year. The change is most likely due to A. more advertising.
B. beginner's luck.
C. the owner's personality.
D. a general upswing in the retail book business.

Answers

The answer is going to be C, because the owner was more friendly with her customers, which made them want to come back.

C, if a store is more updated for children the parents will like the place more, everyone likes free stuff such as coffee, for examples thiesens gives away free popcorn to attract customers, and chatting with customers and remembering what that need makes them fee much more important and want to come back again.

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