What is a statement of circumstances?

Q: What are the characteristics of good or useful information?

A:

Q: What does the term “attainable set” mean?

A: The art of deciding the investment mix and policy, making the investments equivalent to its…

Q: Which of the following statements regarding Forfaiting is/are accurate?

A: Forfaiting is a process that consists of a company engaged in exporting the  goods and services such…

Q: Describe what is the assumed liability?

A: An assumed liability is an obligation under the terms of the agreement assumed by a party. Insurance…

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 preliminary prospectus?

A: Preliminary prospectus is the first document submitted by a company which plans for initial public…

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: When is nonfinancial information relevant?

A: Non-Financial information: Non- Financial decisions are qualitative in nature and do not include…

Q: What does the disclosure principle require?

A:

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 the purpose of the Maceda Law?

A: The Maceda Law, also known as The Realty Installment Buyer Act or Republic Act 6552 is the law that…

Q: Which statement is correct?

A: A current ratio is one of the ratios used to assess the liquidity of the company. It shows that the…

Q: What are the characteristics of Substantive Tests?

A: Audit Planning: Audit planning is the first step in the auditing process. Auditor gathers all the…

Q: When is independence required?

A:

Q: Which statement is true?

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

Q: Explain the term Interest?

A: Interest is a compensation that one has to pay for using another entity's or person's funds. The…

Q: What are the two inputs required in the preparation of the pro forma statements?

A: Pro forma financial statements are reports that are formed based on hypothetical situations in the…

Q: on based

A: There are three main models of the judicial decision-making that explain how judges come to a…

Q: What is materiality? Explain?

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

Q: What does disclosure mean?

A: Meaning of Disclosure - Disclosure is generally making the information and facts available to the…

Q: What are Subsequent Events and what do they require?

A: Auditing:   It is a systematic verification of the books of accounts of an organization by an…

Q: What makes an account significant or an assertion relevant?

A: Significant Account  An account is said to be significant when there is a chance that the account…

Q: What is liability

A: Financial accounting includes recording, collecting, summarizing and interpreting the financial data…

Q: What is hedging?

A: SOLUTION:- Hedging  refers to shielding of  investments. A hedge is an investment method which aims…

Q: Which of the following are substantive tests?

A: For identifying whether the following are substantive tests or not we need to first identify what is…

Q: what is qualifying assets?

A: Manufacturing plants, power generation facilities and inventories requiring time to get into…

Q: What is ESG reporting and why does it matter?

A: Transparency on ecological and socially responsible actions is becoming more popular. Environmental,…

Q: What is a cfar?

A: Cash Flow at Risk (CFAR):Cash Flow at Risk is a term which focuses on the risk of receivables and…

Q: In general, relevant information possesses which qualities?

A: Relevance is an important characteristic of accounting information. It refers to how helpful the…

Q: What is Agency theory ?

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

Q: Define Explicit Interest.

A: Explicit interest is the amount of interest paid by loan or in other words actual interest paid on…

Q: What is articles of association

A: Articles of Association is very important documentation for the company which shows all the rules…

Q: Which of the following statements is TRUE?

A: A measure of an organization’s liquidity position can be ascertained by examining its Current Ratio.…

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: What is a postaudit? What are its potential benefits?

A:

Q: What is simple interest?

A: Interest is the amount a cash flow earns as a result of owning or investing a sum of money. It can…

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 the summary of this topic?

A: Here ask about the summary of the product which is the important aspect of the packing for the…

Q: Explain the Abstract and Opinion Method?

A: Abstract and Opinion method is an approach of assuring of property’s title. Abstract and Opinion…

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…