CHAPTER 17 COMPLETING THE AUDIT ENGAGEMENT Answers to Review Questions 17-1 A contingent liability is defined as an existing condition‚ situation‚ or set of circumstances involving uncertainty as to possible loss to an entity that ultimately will be resolved when some future event occurs or fails to occur. FASB ASC Topic 450‚ “Contingencies‚” classifies uncertainties into three categories: 1. Probable: The future event is likely to occur. 2. Reasonably possible: The chance of the future
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Developing a successful business model without strong control mechanisms will only generate temporary profits. The purpose of control mechanisms in business models is to protect the created values and profit streams from being reduced by competitors‚ partners or strong customers. The last decades have shown a rapid growth in customer power at the same time as new technology and services are being replaced faster. Even though control always has been an important part of the business model
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the presence of a base = unstable intermediate (hemiacetal/hydrate) - nucleophiles with good leaving groups (anions i.e. Cl-‚ RO-‚ RCO2-) = unstable - starting carbonyl compound with good leaving group = unstable (makes a Tetrahedral intermediate then collapses to form the starting carbonyl group) i.e. Grignard reagent added to an ester
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Chapter Nine – Completing the Accounting Cycle 9.1 The Adjusting Process The adjusting process is important for financial statements to be accurate‚ up to date‚ and consistent from year to year. When preparing financial statements‚ the accountants must ensure that: * All accounts are brought up to date * All late transactions are taken into account * All calculations have been made correctly * All GAAPS have been compiled with Adjusting Entry – an entry made before finalizing
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Discussion: In this experiment‚ we alkylate sodium saccharin to N-ethylsaccharin with iodoethane in an aprotic solvent N‚N dimethylformamide. Nucleophiles in this experiment will react better in an aprotic solvent. Aprotic solvents have dipoles due to its polar bonds but they do not have H atoms that can be donated into a H-bond. The anions which are the O- and N- of sodium saccharin are not solvated therefore are “naked” and the reaction is not inhibited and preceded in an accelerated rate.
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The importance of completing assigned tasks in the military is forged in basic training‚ back in reception when you are handed your blue book. It is stated in the warrior ethos: I will never quit‚ I will never accept defeat. Total obedience is hammered into our brains through physical and mental stress and tasks that are assigned are expected to be completed without a second thought running through my head. The chain of command and for that matter the entire military is fundamentally built upon total
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Importance of Completing Post-secondary Program I feel like I cannot run full speed in the race of life. I cannot reach for many opportunities which I believe I could have availed if I had a degree. I am now left out and thus success or achievement is a far cry for me. I am lagging behind in personal development as well. My contribution to the society also is strained because of this lack in education. Education is the most important process in life‚ passing on knowledge from one generation to another
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capable of successfully completing college courses to earn a degree. A person enters into college in order to make a better life for themselves. If they have decided to want to pursue a different career route I think that they should beable to accomplish it as long as they have enough motivation and hard work. Each person knows or will find out what amount of college work they are capable of completeing. Even if a person has to take it one class at a time‚ they will still be completing the courses and working
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Control mechanisms are important to every organization. Without them‚ it would be difficult to determine whether or not the planning‚ organizing and leading functions of management are effective and productive for the company. Although some mechanisms are used widely throughout many organizations and companies‚ some mechanisms are tailored to fit a specific organization. Management must determine the most appropriate control mechanisms for their company. In this paper‚ we provide a brief description
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DEFENSE MECHANISMS IN PSYCHIATRIC DISORDERS I. PSYCHOSES: *In the acute stage there is a complete loss of the ego’s defense mechanisms‚ and disturbing thoughts‚ feelings‚ and impulses intrude into the consciousness *as the individual gradually improves defenses appear • projection • delusional denial • distortion • regression II. NEUROTIC CONDITIONS: (Anxiety Disorders; Somatoform Disorders; Dissociative Disorders in DSM IV R) *defenses are used non-adaptively in
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