The following is an extract from Isaac LLP's assurance report on a profit forecast: 'Based on our examination of the profit forecast and the underlying the assumptions, nothing has come to our attention which causes us to believe that these assumptions do not provide a reasonable basis for the forecast. Which ONE of the following best describes the type of assurance provided by this statement? A Negative assurance expressed positively B Limited level of assurance expressed negatively C High level of assurance expressed negatively D Positive assurance expressed negatively

Q: All of the following points are true regarding the key principles of forecasting except: Select…

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Q: Assertions with high inherent risk are least likely to involve  a. complex calculations b.…

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A: The correct option with proper explanation are as follows

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Q: Which of the following statements about rational expectations is true? OA. Rational expectations are…

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Q: A sound risk mitigation plan improves the DCF, as it lowers the risk premium in the discount factor.

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Q: How can investors and market participants navigate the presence of anomalies and the potential for…

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Q: Does GAAP distinguish between fair values that are readily determinable from current market prices…

A: Generally Accepted Accounting Principles (GAAP):  A set of accounting principles, practices and…

Q: a. what it is b. where and when it is used by the auditor  c. how it affects the work of the auditor…

A: a. What it is The Audit Risk Model is a conceptual tool used by auditors to evaluate and manage the…

Q: All of the following are VaR strengths except: Group of answer choices C. Integrates MPT…

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Q: Objective Type Question: In fair value accounting, what is the primary purpose of disclosing…

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Q: Which of the following statements represent a weakness or limitation of ratio analysis? Check all…

A: The objective of the question is to identify the limitations or weaknesses of ratio analysis. Ratio…

Completing the Accounting cycle

An accounting cycle is a multiple-step process that analyzes, verify, record and summarize the entities financial data. The accounting cycle starts when the transaction occurs between two parties and ends when the transaction is completed. The accounting cycle changes the entity's financial position as it involves identifying, verifying, and recording the financial transaction in chronological order. Financial position is the summary of business transactions that occurred throughout the particular accounting period. The accounting cycle recurs at the beginning of each financial year.