What are the two cases where Garner VS Murray rule is not applicable?

Q: O None of these would be considered a breach of the qualitative characteristic of faithful…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the assumptions of the Fama-French three factor, and any critique of this model

A: Capital Asset Pricing Model was inefficient in explaining the difference of excess return, so Fama…

Q: 1.Which of the following is not true about FICA?

A: GIVEN   the following is not true about FICA

Q: Do you believe that the Supreme Court’s opinion overturning the lower court’s decision was…

A: We have to determine that whether the Supreme Court’s opinion overturning the lower court’s decision…

Q: A tort is a basis for a action O criminal O criminal or civil

A: Tort refers to the wrong doing which is in legal form, where the one person commits wrong against…

Q: Give two examples of errors of principle?

A: Errors of principle refers to errors that are carried out at time of noting down transactions…

Q: Why or what are the reason or reasons that would cause the trial balance to be considered as…

A: Trial Balance - After transferring all the transactions into Ledgers Company closes the accounts and…

Q: Why does the FASB recommend the direct method over the indirect method?

A: Definition:   Financial accounting standards board (FASB): This is the organization that creates,…

Q: Is Jayzam correct in his assertion? Include legal basis/bases in your answers.

A: Accrued liabilities can be defined as the amount to be payable in future for the expenses being used…

Q: Defihe and explain -An agreement that violate statute - An agreement that violate public policy…

A:

Q: The Sarbanes-Oxley Act requires the following?

A: Sarbanes-Oxley Act is formulated during 2002 under US federal law. The prime purpose of the act is…

Q: nonrecurring

A: Extraordinary things vs. Nonrecurring Items: an summaryExtraordinary things area unit gains or…

Q: Briefly explain the two types of compensatory damages in torts.

A: Compensatory Damages Courts award plaintiffs compensatory damages as recompense for harm the…

Q: an IS O a capital or a venue nature forms part of the subjective test. elect one: True False

A: Accounting concepts/ conventions and principles are the guidelines for taking various accounting…

Q: Why is a preemptive right important?

A: Preemptive rights means the rights to  be offered to purchase a property before it is offered to…

Q: Which of the following s he violated?

A: An employee working in an organization must have some ethics and values. The employee should work…

Q: What is a difference between “Musharaka and Mudaraba” and What are the common and uncommon basic…

A: Musharaka A joint partnership known as a "musharaka" is one in which two or more people pool their…

Q: Explain the difference between substantive and procedural due process.

A: Definition: Managerial accounting: Managerial accounting is the process of identifying, measuring,…

Q: Why option A is incorrect?

A: revenue is generated by the business whenever  goods or services are sold by the business.this leads…

Q: So why would we not use standard deduction?

A: Standard deduction is the term which is used in the accounting and it is the portion of income that…

Q: Which of the following statements are an example of a violation of the sunk cost principle? There…

A: Since you have posted a question with multiple sub parts therefore, we will solve the first three…

Q: Which of the following statements is not correct?

A: Leave monetization is actually the leave encashment which means the if there is any earned leaves…

Q: Which one of the following statements is INCORRECT?

A: Statement (2) is correct as under FIFO method, the earlier goods purchased would be comparatively…

Q: There is no difference between simple and compound interest do you agree with the statement if no…

A: Compensation amount that a borrower is required to pay to the lender is known as interest amount. It…

Q: Solve the problem. Which fairness criterion is always satisfied by the plurality with elimination…

A: The majority criteria is always satisfied by the plurality with the elimination method.. Since the…

Q: Which of the following does not apply to the term "true and fair"? a. Accurate b. Clear C . Factual…

A: The term true and fair refers to that financial statements are free from any material misstatements…

Q: What are the two primary reasons for using preemptive rights?

A: The right of the shareholders of a company to buy additional shares in any future issue of the…

Q: For practical applicationsas opposed to theoretical considerations, which ismore relevant, the CML…

A: Security market line (SML) or Capital market line (CML): The capital market line appears the…

Q: Which of the following statements is NOT correct?

A: The yield of the bond refers to the return that investors will realize on investment when the…

Q: Part a and b are wrong ?

A: Depreciation - It is the reduction in the value of fixed asset due to normal wear and tear and…

Q: If this scenario were brought to a NAFTA tribunal, Decom Mat would most likely win. Explain why.

A: NAFTA -North American Free Trade Agreement provides a framework for rule based dispute resolution…

Q: Which of the following is generally true about the differences between U.S. GAAP and IFRS? a. More…

A: US GAAP and IFRS are the two different financial reporting standards which have different standards…

Q: Is the threshold for recognizing a provision under IFRS different than it is under U.S.GAAP?…

A:

Q: What are the two elements of being independent? A. Independence of rights and obligations  B.…

A: Independent auditor is Chartered Accountants who examine the financial statements, financial records…

Q: Which of the following statements is false?

A: Sinc as there are multiple questions are given, so as per answering guideline we do only first one.

Q: How does a class action change the stakes for the parties?

A: The class action is among the most impressive legitimate devices accessible in the U.S. It empowers…

Q: The law of torts is concerned with: O negligence. nuisance. trespass. All of the above.

A: Law of torts is a law to protect a person from the careless activities of another person.

Q: Causation is not required for an intentional tort. Select one: O True O False

A: 1. FALSE   The actor solicitations to beget the consequences of his act, or that he believes that…

Q: What is an unasserted claim?

A: An unasserted claim or assessment is one in which the affected party or potential claimant has not…

Q: What is a restrictive endorsement? Explain with examples?

A: Restrictive endorsements:Restrictive endorsement restricts the use of a financial instrument. The…

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.