Which of the following third parties is known by name to auditors as the audit is conducted?
Question:
a. Foreseeable third party.
b. Foreseen third party.
c. General third party.
d. Primary beneficiary.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
a Incorrect Foreseeable third parties are parties whose decisi...View the full answer
Answered By
Cristine kanyaa
I possess exceptional research and essay writing skills. I have successfully completed over 5000 projects and the responses are positively overwhelming . I have experience in handling Coursework, Session Long Papers, Manuscripts, Term papers, & Presentations among others. I have access to both physical and online library. this makes me a suitable candidate to tutor clients as I have adequate materials to carry out intensive research.
4.90+
1538+ Reviews
3254+ Question Solved
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Question Posted:
Students also viewed these Auditing questions
-
Which of the following statements best describes auditors responsibility for detecting a clients noncompliance with a law or regulation? a. The responsibility for detecting noncompliance exactly...
-
Which of the following audit procedures would not likely be performed for audits of investments? a. Read board of directors minutes for authorization of investment strategies. b. Confirm investments...
-
Which of the following audit procedures would not likely be performed for audits of share-holders equity? a. Read board of directors minutes for authorization of equity transactions. b. Confirm...
-
Which description does NOT fit in description of "issues" in the context of international standards? a. An unsettled matter. b. A vital matter. c. A change in the environment. d. A concern or...
-
Teresa is an accomplished actress. During the summer, she rented a vacant store to stage productions of four plays, using the local townspeople as actors and stagehands. She sold $24,000 of tickets...
-
The jet airplane of mass M has constant speed v j when it is flying along a horizontal straight line. Air enters the intake scoops S at rate r 1 . If the engine burns fuel at the rate r 2 and the gas...
-
Pillow Company is purchasing an 80% interest in the common stock of Sleep Company. Sleeps balance sheet amounts at book and fair value are as follows: Book Fair Account Value Value Current assets . ....
-
A company has two sequential processing departments. On the cost of production reports for the departments, will the cost per unit transferred out of the first department always be equal to the cost...
-
Consider this statement: It's important in business today for all firms to work to cut out the middleman. Intermediaries represent costs that can be saved by finding ways to cut them out of the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
The Securities Act of 1933 and Securities Exchange Act of 1934 contain a. Civil liability provisions applicable to auditors. b. Criminal liability provisions applicable to auditors. c. Neither a nor...
-
Which of the following would be the auditors most likely defense in an action brought under the Securities Exchange Act of 1934? a. The investor did not have privity with auditors. b. The investor...
-
In 2002, Laetner Industries decided to discontinue its Laminating Division, an identifiable segment of Laetners business. The measurement date for the discontinuance is August 1. At December 31,...
-
The ratio of CEO pay to that of an average employee increased over a period of 50 years from 24:1 to 275:1. Is this increasing gap ethically sound, in your opinion? Should CEO pay be limited in any...
-
Suppose you are considering buying a machine that costs $7,000. It will generate revenues of $1,500 for the next 3 years, and then $1,000 for the following 5 years. What is the payback period of this...
-
National Bakery Limited is the main supplier of a variety of baked products to customers in Kingston. The company currently makes 25,000,000 a variety of baked products annually which uses baking...
-
Q1. Discuss the financial goal of a business. Ensure to provide an example of the inherent ethical challenges associated with the financial goal and or the financial management process. Using the...
-
Q1. How can companies use social media to do sentiment analysis? Describe the process. Give an example of a company that uses sentiment analysis to enhance relationships with customers. Q2. Describe...
-
The organizationwide OD interventions are survey feedback, confrontation meeting, structural redesign, management by objectives, and collateral organization. T F
-
Medi-Exam Health Services, Inc. (MEHS), located in a major metropolitan area, provides annual physical screening examinations, including a routine physical, EKG, and blood and urine tests. MEUS's...
-
Alexx's monopoly currently sells its product at a single price. What conditions must be met so that he can profitably price discriminate?
-
Some people have said that auditing is no longer self-regulated because of the Sarbanes Oxley mandated registration and inspection process of the PCAOB, and because the PCAOB now sets auditing...
-
Explain the theory of moral development, including the 3 levels identified by the theory. When auditors are performing their jobs, which level applies to their behavior? Why would it be a problem if...
-
Explain the difference in the compensation contracts of doctors and their patients and auditors and their clients, and the significance this difference has for auditor independence.
-
Ventaz Corp manufactures small windows for back yard sheds. Historically, its demand has ranged from 30 to 50 windows per day with an average of 4646. Alex is one of the production workers and he...
-
Which of the following statements is not true regarding the $500 credit for dependent other than a qualifying child credit. Cannot be claimed on the same tax return if the child tax credit is also...
-
Grind Co. is considering replacing an existing machine. The new machine is expected to reduce labor costs by $127,000 per year for 5 years. Depreciation on the new machine is $57,000 compared with...
Study smarter with the SolutionInn App