All parts correct especially which is wrong do that carefully please

Q: Explain consistency concept.

A: Consistency: Consistency principle emphasizes that companies should adhere to same accounting…

Q: Put the following in the correct order to assess an ethical threat: i) Make a decision. ii) Consider…

A: An ethical threat is referred to as a situation where a corporation or a person does not follow…

Q: What does the Good internal control helps ensure?

A:

Q: Which of the following statements is/are true? Select one: O A. Planning must precede control O B.…

A: Which of the following statements is/are true? (A) Planning must precede control. Without a plan, it…

Q: What is meant by the term antidilution? Give an example.

A: An increase in the earnings per share refers to anti-dilution. This results on account of the…

Q: Which of the following i not an element of internal control?A. Control environmentB. MonitoringC.…

A: Internal control can be defined as the process of persuading the objectives of the organization such…

Q: Elaborate about The duty to not misrepresent.

A: A obligation is a promise or expectation to do something in general or in specific situations. In an…

Q: Describe the analytical model for ethical decisions.

A: It is a process of assessing and picking among choices in a way steady with moral standards. In…

Q: Explain errors of principle and give two examples with measures to rectifythem.

A: An error of principle is an accounting mistake in which an entry is recorded in the incorrect…

Q: Determine if the mistake is counterbalancing or noncounterbalancing. Give a specific example for…

A: The mistake is counterbalancing or noncounterbalancing will be explained:

Q: Outline Roll’s critique and explain how this affects the application of the CAPM in practice.

A: Roll's critique suggests or is built on the idea that it is next to impossible to create or observe…

Q: What rules or policies should be developed to avoid the ethical problem?

A: Ethical problems: These kinds of problems arise when while making decisions neither of the options…

Q: Choose only one answer as well as state their reasons/rationale for the answer chosen. 7) Which…

A: Size check restricts the length of the characters to be entered as an input in a particular field.…

Q: How do you determine if Control Procedures are operating properly or not operating properly?

A: Controls are the procedures set up by the organization to ensure that the financial and operational…

Q: ead

A: Explanation : In simple words, asymmetric information refers to the situation under which one entity…

Q: State all of the assumptions that are required for carrying out a goodness of fit test as well as…

A: 1. Independence: We assume that the observations are independent of each other. To test this…

Q: For hedging purpose, a client is of the opinion that the delta normal method is the most appropriate…

A: Delta normal Method:- This method is used for the portfolio's that are linearly dependent on the…

Q: List the common biases and errors in decision-making. Provide suggestions for how to avoid falling…

A: There are many errors and biases inn decision making such as.1.Overconfidence Bias2.Anchoring…

Q: Requirements 1. 2. Define internal control. The system of internal control must be tested by…

A: Define internal control: Internal control refers to the set of policies, procedures, and practices…

Q: Give an example of a preventive control.

A:

Q: 5) What are common limitations of Internal Controls? a) Human Error b) Human Fraud c) Cost-Benefit…

A: Internal Control are policies and procedures used  by the management to make the efficient use of…

Q: What is the difference between a normal procedure and an extended procedure?

A:

Q: What does Internal Control provide reasonable assurance for?

A: Internal Controls:   Internal controls are the controls established within an organization to check…

Q: Differentiate between the techniques of vouching and verification.

A: The main objective of verification shows how assets and liabilities are valued properly. To…

Q: If the trial balance is balanced, are we certain that there are no errors in it? How so?

A: Trial balance is the statement which is prepared by an entity to check if the debits in the books…

Q: How can you tell the difference between planning and control decisions

A: The difference between planning and control decisions will be shown:

Q: Describe moral hazard.

A: Moral hazard refers to circumstances in which an individual chooses to apply little or no effort, or…

Basic Accounting Terms

Accounting terms are accounting terminology, accounting jargon, accounting acronyms, and accounting vocabulary that are commonly used to understand accounting fundamentals. It would be difficult for anyone to read, understand, and interpret the company's financial statements if they did not understand and know the meaning of the basic accounting terms.