Define Conservatism.

Q: Explain the role of voters as one of the causes of inefficiencies underlying the public choice

A: Public choice reflects people's action in  collective decision making. The main features associated…

Q: What are the threats to independence?

A: Given below are the seven threats to auditor’s independence:   Self-review threat: It occurs when…

Q: Describe the approaches for Comparing Defender and Challenger?

A: The following are the approaches for comparing defender and challenger: Cash flow approach: Treat…

Q: Explain what is Make-or-Buy Decision?

A: Decision making: It is a vital capacity in the management, since decision making is identified with…

Q: form of opinion you would consider the most appropriate to use

A: The client has violated the accounting standard IAS 16 -Property, Plant and Equipment by not…

Q: What is the goal of conservatism?

A: Definition:

Q: Explain what conservatism means, and give an example in your own words.

A: Conservatism in accounting means to safeguard. Conservatism principle states the losses should be…

Q: Which alternative should be selected? Choose the correct answer below.

A: Net Present Worth: It is the present worth of the annual cash inflows and annual cash outflows…

Q: critically discuss the advantages and disadvantages of rights issue.

A: Right issues is raising money from existing shareholders by providing more equity to existing…

Q: Define in your own words the term diversity.

A: Accounting diversity refers to variances in the recording and use of financial data; American firms…

Q: What is the first stage in Ackerman model of social responsibility?

A: Option  b

Q: What are “participation rights”?

A: Convertible securities: Convertible security is a security that has the potential to be converted…

Q: What is a reasonableness test?

A: Reasonableness tests is an analytical procedure used to examine the validity of the accounting…

Q: How fair value measurement?

A: Fair Value In Accounting term Fair Value means the recognition of amount which are actually value…

Q: Discuss and explain the meaning of right offerings and their advantages.

A: Right issue refers to giving a right to existing shareholders to subscribe additional shares in…

Q: When Decision making is affected by both personal perspective and characteristics this phenomenon…

A: Decision making is referred to as the process of making choices through an identification of the…

Q: difference morality and ethics?

A: Ethics are principles that regulate the behavior of employees while conducting any activity. It is…

Q: Define the concept of going concern?

A: Going concern Concept: The basic principle of this concept is that business is assumed to exist for…

Q: What are the arguments for and against 'Stakeholder Theory'? Examine several arguments for and…

A: Stakeholder Theory is an idea about how business really works. According to it, for any business to…

Q: When is independence required?

A:

Q: Highlight concept of faithful representation and is it valid or not?

A: The concept of Faithful representation advocates that the financial statements and information…

Q: What is materiality? Explain?

A: Materiality: The accounting concept which focusses that all the financial items and figures which…

Q: Explain the specific relationship between risk and reward and why this relationship must be true.

A: Risk refers to probability for loss of investment value by an investor whereas Reward refers to…

Q: What are the root cause of conservatism bias?

A: The root cause of Conservatism bias is a strong belief system. As investors, it is difficult to…

Q: How should become great in it ?

A: Introduction: If you want to start or enhance your career in information technology (IT), you need…

Q: Think of two [ of your ] real life examples about concervatism principle

A: Define Conservatism principle as follow

Q: Define Vested benefits.

A:

Q: Define the term conservatism concept.

A: Conservatism: Conservatism is an accounting assumption, it is as an approach used by the accountants…

Q: Explain what social responsibility is and the impact it has on stakeholders.

A: Social responsibility in terms of business refers to the social accountability that a business…

Q: Do you believe that our beliefs trigger our actions, or do we act and then justify our actions by…

A: Set of beliefs means person's opinion related to any aspect of life.Beliefs can be…

Q: Define the Make-or-Buy Decision?

A: A make or buy decision is to choose whether to manufacture the produce in-house or purchase it from…

Q: Define the following terms: Input risks, financial risks, property risks, personal risks

A: Input risks refers to the input price risk or commodity price risk. The risk arises for either of…

Q: the conceptual framework includes which constraint a.prudence b. conservatism c. cost d all of…

A: IASB is the accounting standard body which is known as International Accounting Standards Board.…

Q: What is the make or buy decision?

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

Q: o you understand by the term ias 38 and what are its criteria, advantages and disadvantage in real…

A: IAS 38 intangible assets outlines the accounting necessities for intangible assets, which are…

Q: Define Ethics.

A: Ethics are a set of moral principles they affect how people in a society make decisions and how…

Q: Distinguish between responsibility, authority, and accountability.

A: Responsibility: When a sub-ordinate is obligated to perform the duties assigned to him, it becomes…

Q: Describe the term Legitimized disagreement and skepticism?

A: Disagreement means not giving the consent or objecting to something such as a proposal or people's…

Q: Distinguish between participating or nonparticipating?

A:

Q: isk with practical example

A: Political risk Political risk is the risk an investment's returns could suffer as a result of…

Q: - form of opinion you would consider the most appropriate

A: The client has made appropriate disclosures regarding the intention to discontinue the manufacturing…