When gathering data, an audit team identified both subjective and objective criteria for measuring audit risk. Which one of the following risk factors is the most objective? comfort with management prior audit findings size of the audit unit changes in staff, systems, or the environment

Q: Define LIFO conformity rule.

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: Define BOM along with an example.

A: There are different types of BOM based on the specific engineering used in the design process or…

Q: Explain the characteristics

A:

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: What is full form of GAAP? Describe about it.

A: Generally Accepted Accounting Principles, are commonly known as GAAP

Q: Describe about the LIFO and FIFO method.

A:

Q: Discuss the General overview of IFMIS

A: The IFMIS usually sets up a centralized system to support various management processes.

Q: Describe WACC and its components.

A: WACC: The weighted average cost of capital (WACC) is a computation of   cost of capitalof a company…

Q: Explain

A: LCNRV method means Lower of cost and net realizable value method.

Q: Explain put–call parity relationship

A: Put-Call parity is the concept that defines the relationship between price of European call option…

Q: Define Reconciliation method

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

Q: Define covered call option

A: Covered call option It alludes to financial market exchanges where the financial specialist who…

Q: Can i see the exact working out for 2a

A: FIFO stands for First in First Out which is the inventory method states that the inventory which is…

Q: Define the term CQS Plan?

A: Introduction: Usually, stock exchanges such as the New York Stock Exchange operate as a forum where…

Q: Define basis point

A: Answer: A base value is an approximate number, also used as an initial index value. All potential…

Q: Parallel

A: ISTISNA AND PARALLEL ISTINA :

Q: Match the terms

A: Accounting principles are the accounting rules which an organization must follow while maintaining…

Q: What is an REA diagram?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Define attainable set

A: Attainable SetA set of all the portfolios that are possible to be formed by the group of the number…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Illustrate the CDO Structure?

A: CDO is the abbreviation used for collateralized debt obligation. It is corporate based funanacial…

Q: Define the term Net method.

A: As per the net method, the company records the amount of purchase by deducting any potential…

Q: What is the full form of ERP? Explain ERP with examples?

A: ERP means Enterprise Resource Planning, it is a process management software used by organizations to…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: Define direct quote

A: A direct quote can be computed using the following formula: Direct quote=1Indirect quote

Q: Describe about the concept of COGS.

A: Cost of goods sold (COGS): Cost of goods sold is the accumulate amount of all direct cost incurred…

Procedural Coding: CPT and HCPCS

Computer hardware and accessories nowadays support various types of coding for a variety of purposes. Procedural coding is a straightforward process that combines several steps of a calculative sequence to achieve the desired result. It is a type of medical classification that aids in the identification of specific surgical, medical, or diagnostic procedures. It begins as soon as a patient enters the premises of a healthcare provider. These coding systems have significantly aided the process of insurance claims and billing.