
Auditor: An auditor is one who checks the books of accounts of the company and gives remark on it. By his professional qualification he provides service to the society. An auditor may be internal auditor or external auditor of the company. An auditor may be a person or firm appointed by the company to perform audit.
Ethics: Ethics are the moral value that a person has to follow in society. Ethics are the principles that provide the knowledge of what is right, and what is wrong. Ethics definition is not same to every person. An activity is right to one person but wrong in the eyes of other. Ethics depend on the human behavior and habits of the individual.
To identify: Ethics rules affecting auditor’s choice of client.

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Chapter 1 Solutions
FINANCIAL ACCT.FUND.(LOOSELEAF)
- Everett Corporation, a company that produces and sells a single product, has provided its contribution format income statement for October: Sales (8,200 units): $452,600 • Variable expenses: $280,200 • Contribution margin: $172,400 Fixed expenses: $115,750 • Net operating income: $56,650 If Everett Corporation sells 9,000 units instead of 8,200 units, what will be its net operating income? A. $69,250 B. $73,800 C. $76,300 D. $80,400arrow_forwardEagle Parts Co. uses direct labor hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor hours were 13,000 hours, and the total estimated manufacturing overhead was $315,000. At the end of the year, actual direct labor hours were 12,600 hours, and actual manufacturing overhead was $309,000. Find overhead at the end of the year. Helparrow_forwardGeneral accountingarrow_forward
- What it likely to be the price of the stock? General accountingarrow_forwardAt the beginning of the year, Averra Corp's liabilities were $120,000. During the year, assets increased by $95,000, and at the end of the year, assets totaled $310,000. Liabilities decreased by $40,000 during the year. Calculate the amount of equity at the end of the year.arrow_forwardPlease provide the answer to this General accounting question using the right approach.arrow_forward
- I am looking for the correct answer to this general accounting question with appropriate explanations.arrow_forwardWhat is the expected price of this stock one year from now?arrow_forwardI am looking for a reliable way to solve this financial accounting problem using accurate principles.arrow_forward
- How much will the customer pay if the take advantage of the cash discount?arrow_forwardVariable lease payments based on an index are? A. Included using initial index B. Excluded from lease liability C. Recognized as expense when incurred D. Added to equity answerarrow_forwardWhat is the total manufacturing cost ...?arrow_forward
- Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College PubBusiness/Professional Ethics Directors/Executives...AccountingISBN:9781337485913Author:BROOKSPublisher:CengageAuditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning

