What is the parol evidence rule, and what is the court’s reasoning in applying the rule? List and explain the exceptions to the parol evidence rule.

Q: The "other information" is included in the audit opinion, or is it excluded? Justify your choice.

A: In accounting, auditing is the act of evaluating the financial statements of a corporate entity to…

Q: In your opinion, should PWI be subject to civil litigation?

A: Here, it is to be determined that whether PWI be subject to civil litigation or not.

Q: Explain the auditor legal liability, this includes what law that procure such liability?

A: An auditor is expected to complete their tasks in good faith and with integrity and should operate…

Q: Circumstantial evidence

A: Correct Answer :- A Circumstantial Evidence

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: Explain when you would issue a reservation of rights?

A: A reservation of rights is generally issued by insurance companies.

Q: Any evidence lawfully offered at trial to show a disputed topic and persuade the jury to believe…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: why should the client represantion letter be prepared foreach examination?

A: SOLUTION  REPRESENTATION LETTER  IS A LETTER WRITTEN FROM THE ASSOCIATION TO ITS  ACCOUNTANT…

Q: Is the audit opinion applicable to the "other information" as well? *

A: Auditing: The official verification and scrutiny of financial statements is known as auditing. 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: Explain the difference between substantive and procedural due process.

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

Q: what are the key practical differences between  common-law liability and statutory liability for…

A: Judges' legal decisions in determining cases give emergence to common law liability. These decisions…

Q: Discuss the scope and penalties of Sarbanes Oxley Act.

A: The Sarbanes Oxley Act or the SOX was brought to force as a response to the substantial increase in…

Q: Which common law approach leads to increased CPA liability to "foreseeable" third parties for…

A: CPA is liable to conduct the professional accounting work. He would be responsible for any…

Q: Why might an auditor decide to disclaim an opinion?

A: Audit refers to the process of reviewing the controls and processes that can be used further by the…

Q: A court will uphold any agency rule making decision so long as the agency at issue did not exceed…

A: Agency decision refers to the final order to the decision or the determination of the administrative…

Q: on based

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

Q: Distinguished between an an unmodified opinion, qualified, adverse opinion and disclaimer of…

A: Auditing is the process of identifying, classifying, summarising and analysing financial information…

Q: What is the unadjusted trial balance?

A: Trial balance is the summary of all general ledger accounts being used in the business. It shows…

Q: hat are the Sarbanes-Oxley Act and GAAP?

A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

Q: ______________ is defined as anything perceptible by the five senses and any proof legally presented…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: An oral or written statement made by an out-of-court declarant that is offered in court by a witness…

A: Hearsay means a statement made otherwise than by a person while giving oral evidence in the…

Q: which of the following trial courts to hear his case?

A: Opt c is correct

Q: n in t

A: An action that is a civil action for injury damages death damages or property damages or damaging of…

Q: Define civil law

A: Introduction: Civil law is a form of rules that govern usual private substances, distinct from laws…

Q: Distinguish between common-law liability and statutory liability for auditors. What is the basis for…

A: Difference b/w common law liability and statutory law liability Common law liability: It arises from…

Q: What are the major differences in wording for qualified opinions and adverse opinions issued asa…

A:

Q: Identify the three alternative opinions that may be appropriatewhen the client’s financial…

A: Following are the three alternative opinions that may be appropriate when the client’s financial…

Q: 4. Which ONE of the following is NOT an advantage of judicial precedent? A Creates consistency В Can…

A: Option B: Can be hard to understand and apply. As judicial precedent are very complex which is a…

Q: How might exclusion clauses be found to be unenforceable?

A: Exclusion clause is defined as the term of contract that looks for restricting or excluding the…

Q: Does the audit opinion extend to the "other information"? Explain. *

A: Auditing refers to the process of scrutinizing the financial statement of the business entity and…

Q: What kind of actions might customers pursue against auditors under the common law doctrine of…

A: Given: Per common liability law, customers may file a lawsuit against auditors for breach of…

Q: What should Rob Cushman do about the two items described in the Remaining Issues section of the…

A: Under the current system, distinguishing between controllable and uncontrollable elements is…

Q: What are some exceptions to UBIT provided by legislation?

A: The question is related to some exceptions to Unrelated Business Income tax .Unrelated business…

Q: Which of the following best describes preponderance of the evidence? O a. A Constitutional right O…

A: The preponderance of the evidence is the lowest standard of proof. The preponderance of the evidence…

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.