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Management of an entity sometimes makes estimates where the actual amounts are not available. The role of auditor with respect to such management's estimates is to: O a. accept the management's estimation O b. reject the management's estimation c evaluate the

Management of an entity sometimes makes estimates where the actual amounts are not available. The role of auditor with respect to such management's estimates is to: O a. accept the management's estimation O b. reject the management's estimation c evaluate the

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Management of an entity sometimes makes estimates where the actual amounts are not available. The role of auditor with respect to such management's estimates is to: a. accept the management's estimation O b. reject the management's estimation O c. evaluate the management's judgment d. withdraw from the audit
Transcribed Image Text:Management of an entity sometimes makes estimates where the actual amounts are not available. The role of auditor with respect to such management's estimates is to: a. accept the management's estimation O b. reject the management's estimation O c. evaluate the management's judgment d. withdraw from the audit
Identify, which one of the following is not, considered as non-compliance by a company? a. Violation of tax laws by a director on his personal income tax b. Omission of an item of expenditure of the company that is material O c. An accounting policy of the firm contrary to the regulations O d. Using a depreciation method that not provided by the reporting framework.
Transcribed Image Text:Identify, which one of the following is not, considered as non-compliance by a company? a. Violation of tax laws by a director on his personal income tax b. Omission of an item of expenditure of the company that is material O c. An accounting policy of the firm contrary to the regulations O d. Using a depreciation method that not provided by the reporting framework.
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