Answer:
D. The auditor should assess the risks of material mis-statement due to fraud.
Explanation:
At the time of auditor visit in a company the financial statement represent that the company has done the fraud in this scenario, the auditor should analyze the material misstatement risk that is done for fraud
Therefore in the given case, the option D is correct as the auditor responsibility is that he or she should analyze the risk with respect to the false statements presented in the financial statement
which class?
Explanation:
plz mention the lesson name kk
The required answer is production.
Production:
- Producing something is the act of creating something out of components or raw resources. To put it another way, production employs inputs to produce an output that is fit for consumption—a good or product that has value for a customer or end-user.
- One of the most crucial steps in the manufacturing process, production is fundamental to what it means to be a manufacturer. Without this activity, no finished goods would be produced, leaving no products for buyers to purchase.
- The purpose of production is to provide the economy with commodities and services. Land is the primary factor of production, but term also refers to any other natural resource that is used to create commodities and services. This includes everything that comes from the land, not just the land itself.
Learn more about production here brainly.com/question/24481793
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Answer:
A deferred tax liability will be reported on the balance sheet
b) trademark
as longterm assets refers to those assets that will not become cash within a one-year period
Explanation:
As the accounting makes the depreciaiton of the asset among 8 years
while the MACRS (depreciaiton for tax purposes) does it in 5 years
the company will pay lower income taxes now but, higher in the future
creating a tax liability as the tax relief occurs now.
Calculations:
Account Depreciation Expense
(cost - salvage value )/ useful life =
(130,000 - 10,000)/ 8 years = 8,000
Tax-purpose depreciation expense
130,000 x 20% = 26,000
There is a tax difference of (26,000 - 8,000) x corporate income tax
