1. For the following cases, asses the AAR and justify your answer.

Cases	Assessme nt of AAR	Justification
1. Palestine Electric Company - PEC
The following are the details of audited financial statements of XYZ Company: What is the expected AAR of XYZ Company Total none-current assets is U.S. $ 16 Million Total current liabilities is U.S. $ 4 Million and none-current liabilities is U.S. $ 10 Million. Total equity is U.S. $ 5 Million.
3. CPA firm engaged to audit the financial statements of ABC Company (Public Shareholding Company) which managed by an integrity and competent management.
4. CPA firm engaged to audit the financial statement of Metro Market.