What are asserts

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

Q: What are Deeds?

A: The question is linked to the concept of legal aspect of business, which explain the importance of…

Q: Which of the following is a TRUE statement

A: As per our guidelines and protocol we provide solution to the one question only and you have asked…

Q: e proposition that a central ba

A: One could argue that a  Central bank  should be able to set its own objectives so as to be free from…

Q: Which of the following statements is true?

A: All the accounts in the income statement are closed at the end of each year and the balance is…

Q: What is the IPSASB and reason(s) it was established?

A: IPSASB : INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD (IPSASB). It plays a significant…

Q: what does fichacuristic mean?

A: NOTE: The word "fichacuristic" is a spelling/typo error of the word "futuristic" in Step 2 first…

Q: What is a VIE? State it's full form and meaning.

A: Explain the term variable interest entity (VIE). A legal business structure is known as a variable…

Q: What is indirect quote?

A: A quote is an expression of foreign exchange rate of one currency with domestic currency. Quote is…

Q: whether the statement is true or false.

A: Asset-based financing is the finance availed by a company in lieu of its assets. In such cases, the…

Q: What is a statement of circumstances?

A: The external auditor is expected to lodge a statement of circumstances at the company's registered…

Q: is a “look through entity”

A: Look-Through Entity: Look-Through Entity suggests that an individual that's registered under the…

Q: What is appropriation?

A: Ans. In accounting, appropriation is done for various reasons such as for distribution of gains,…

Q: Which of the above statements is/are true?

A: Factory overhead allocation: the factory overhead of a company can only be calculated at the end of…

Q: Which statement is true?

A: Financial Statements: These are records of the finance relating activities and positions of the…

Q: What is an estoppel? Why is it used?

A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…

Q: What is a contra-asset? Give an example of one.

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: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: What is imputed interest, and how does it work

A: The Answer:

Q: ow to do question ii?

A: Given information : Initial balance 5000 Service charge 100 Interest rate 10% Time period…

Q: What is forex

A: A financial market is a marketplace where financial securities are being created and traded between…

Q: How Subordination Clause is used?

A: In order to regulate the importance of a credit in the occasion of nonpayment, a moneylender might…

Q: Materiality Principle

A: The materiality principle specifies that the company would avoid an accounting principle if the…

Q: Is the following statement true or false? Explain your answer.

A: Step 1   Portfolio diversification is the act of investing your money across a variety of asset…

Q: Consideration is i transaction which

A: Transactions between related persons and other activities of the Schedule I under the CGST Act will…

Q: What is a condition subsequent? Briefly explain with examples.

A: Condition subsequent: Condition subsequent refers to an event which bring an contract to an end…

Q: How is materiality concept applied?

A: Accounting principles:

Q: assertions

A: Audit Assertions are claims made by management through financial statements and those are tested by…

Q: What is forward points?

A: Forward points are nothing but basis points added or subtracted from the spot rate of an underlying…

Q: What does it mean for a source to be objective?

A: Objective means anything which is free from emotions, personal prejudices or bias.

Q: arise by ratificatio

A: Agency by Ratification is defined as where someone approves or accepts of some one else's deeds on…

Q: What is Agency theory ?

A: Agency theory Agency theory explains the connection between the principal and agent. concerned…

Q: hich of the following statements are true and which are false?

A: I. Externalities is the one of the reason for market failure not an only reason. They are many…

Q: What does the statement mean?

A: A financial system is a collection of entities that allow money to be exchanged, such as banks,…

Q: what is materiality?

A: Materiality is an accounting concept that signifies the importance of an item to users of financial…

Q: mples) through w

A: The Agency systemThe Agency device may be very popular in the modern-day commercial enterprise…

Q: ANSWER THE QUESTION USING PRO-FORMA STATEMENT

A: Proforma income statement shows budgeted amount of sales revenue as well as budgeted or estimated…

Q: Explain materiality Principle in detail with example

A: A set of rules and guidelines that is required to be followed by an entity in the process of…

Q: Which of the following is a correct statement?

A: When a sole property dies during the financial year leaving the estate that is known as Deceased…

Q: Which of the following statements Is/are true?

A: Inventory valuation: Inventory valuation is a method used or followed for the calculation cost of…

Q: What does the concept "substance over form" stand for?  Can you provide me with some examples?

A: Substance over form: It is an accounting concept, which means that the business must record those…

Q: What are the components of relevant information? What are the components of faithful representation?

A:

Q: what is stare basis?

A: Stare Decisis is a rule that obligates courts to follow decided cases i.e. it means to stand on…

Q: What is notional value?

A: Notional value is used to value the underlying asset. In simple words it tells how much of value a…