the circumstances and opinion expressed by an auditor‚ where he is unable to obtain sufficient audit evidence. 2. Auditors of M/s Santa Banta (P) Ltd. were changed for the accounting year 2010-11. However there was no change in the position of closing stock which remained at ` 400 lacs . The auditors of the company propose to exclude the audit of closing stock of ` 400 lacs from their audit programme on the understanding that it pertains to the preceding year which was audited by another
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ENG3U Fifth Business by Robertson Davies PART II: I Am Born Again Chapter Study Questions 1. Though he was in The Great War from 1915 to 1917‚ why didn’t Dunstan know much about it? 2. Why is Dunstan not proud of his “heroic act”? 3. Describe Dunstan’s miraculous revelation in chapter 2. 4. Describe Dunstan’s relationship with Diana. 5. What three milestones does Dunstan reach in chapter 5? 6. How does the story of Saint Dunstan resonate with Dunstan’s life? 7. In chapter 7‚ the
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Terms Consensus ad idem – Pacta sunt servanda Usry Adhesion contract Exculpatory clause Oral contract Proper form Void contract Voidable contract Equally at fault Locus sigili Mutual agreement Legality of purpose Competent party Consideration Divisible contract Executed contract Entire/Individible contract Executory contract Express contract Implied contract Formal contract Essay questions – subject‚ verb‚ agreement Discuss and explain – rescission‚ novation‚ silent fraud doctrine –
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The Native American Indians received cruel treatment during the 1800’s -1900’s; Immigrants stole their land‚ resources and basically corrupted their community. Past events show us the tragedy of the natives and their hardships. However‚ in the last decades Native American Indian descendants have been known to succeed in the casino business. In his article “Jackpot” David Plotz reports the story of Paula Lorenzo‚ a woman that struggled to make a living to support her 4 children but with the help of
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Chapter 01 - Introduction to the Field CHAPTER 1 INTRODUCTION TO THE FIELD Review and Discussion Questions 1. What is the difference between OSM and OR/MS? Between OM and IE? Operations and Supply Management (OSM) is a synthesis of concepts and techniques that relate directly to production and distribution systems and enhance their management. Operations and Supply Management has a distinct management role that differentiates it from OR and IE. Operations and Supply Managers use the tools of
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Interim An audit which conducted in between the two annual audits with a view to find out interim profits to enable the company to declare an interim dividend is known as Interim Audit. It is a kind of audit which is conducted between the two periodical or balance sheet audits. Objectives Of Interim Audit 1. To know profit or loss of interim period. 2. To distribute interim dividend. 3. To get loan on the basis of interim account. 4. To get information about the financial position
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DeLL Inc. | Strategic Audit | MAN 4720 – Strategic Management | | Group 7 | 3/31/2012 | Dell‚ Inc. Dell‚ Inc. is an American multinational computer technology corporation based in Texas‚ United States. The company develops‚ sells‚ and supports computers and related products and services. Dell Inc. is one of the largest technological corporations in the world‚ employing more than 103‚300 people worldwide. Dell is listed at number 41 in the Fortune 500 list (2011). It is the third largest
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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Chapter 2 Recording Business Transactions √ Quick Check Answers: 1. a 3. b 5. d 7. d 9. c 2. c 4. c 6. a 8. a 10. b Explanations: 3. b. Owner’s equity is $130‚000 ($50‚000 + $60‚000 + $200‚000 – $80‚000 – $100‚000). 7. d. Supplies balance is $1‚200 ($500 + $700). The payment of accounts payable does not affect supplies. 9. c. Ending equity is $70‚000‚ computed as follows: Beginning owner’s equity…….. $ 50‚000 Add: Net income: Revenues……………….. $110‚000
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