C8-5 (P.162) Determine likely significant audit risks and key accounts at risk Audit risk: risk that auditor has not uncovered a material misstatement in the financial statements Potential accounts at risk: Provision for compensation claims/litigation Inventory Accounts receivable Accounts payable Brand name PRACTICE EXAM 2‚ QUESTION 3‚ PART 1 (PP.240-241) Identify 5 business factors and explain their impact on risk of material misstatement Also identify account balance most affected
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the development of modern society. Weber believed that cultural factors‚ especially religion‚ were also important. However‚ Weber didn’t argue that religion was the cause of Capitalism but that Protestantantism and Capitalism fitted together and developed in interaction with each other. So he did NOT argue that religion ’created’ capitalism. 2.Class and Inequality:Class‚ Status and Power 2.1 Whilst he also agreed with Marx that ownership of capital or labour separated the two major classes of
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To students ‚ studying is an important act in their life. Different environment ‚ culture and friends affect their studies directly. Therefore parents always tend to choose the best studying environment for their children‚ this can be shown from how parents fight for a space in those brand name schools. Research from “Studying Abroad UK” shows that in recent years ‚ in order to have an even better studying environment ‚ many parents and students consider overseas studies‚ especially for those
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Surprises Found in Studying Groupthink There are many things that groups of people are capable of that might be surprising to someone who has not studied the theory. As there have been more tests throughout the theories history‚ scientist have found fascinating results. The first interesting discovery made while studying groupthink is‚ “Group deliberation often produces worse decisions than can be obtained without deliberation. (Often enough for epistemic concern.)” (Solomon‚ 2006). Despite most
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candidates: Print your name and student number on the Test Paper Attempt ALL questions Do not detach any portion of the examination paper Begin writing‚ as indicated‚ after the reading time has ended Materials allowed: Nil DO NOT REMOVE ANY PART OF THIS TEST PAPER FROM THE TEST ROOM Student Name: | | | Student ID: | | | Section I: Theory[16 marks]Please answer all of the following questions. Your answers should be concise‚ but in sentence
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1. Human resource is an example of (an): (Points : 2) Unit-level activity. Batch-level activity. Product-level activity. Organization-sustaining activity. 2. Which of the following is not a limitation of activity-based costing? (Points : 2) Maintaining an activity-based costing system is more costly than maintaining a traditional direct labor-based costing system. Changing from a traditional direct labor-based costing system to an activity-based
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Studying Abroad Today‚ millions of students travel to other countries for university study. As a result‚ many people fear that they are forgetting the importance of their own culture‚ and are being negatively influenced by foreign culture. On the other hand‚ many students believe that they can gain more experience by interacting with those with a background different from their own‚ and seeing a different way of life. Studying abroad has more advantages than disadvantages‚ but it comes with
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above 2. Which of the following situations best describes a business combination to be accounted for as a statutory merger? a. Both companies in a combination continue to operate as separate‚ but related‚ legal entities. b. Only one of the combining companies survives and the other loses its separate identity. c. Two companies combine to form a new third company‚ and the original two companies are dissolved. d. One company transfers assets to another company it has created. 3. A firm can
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regard. Firstly‚ in the field of healthcare‚ developed countries can support heunderdeveloped in many ways. They can send their expert doctors to train the medical staff in the developing countries. Also‚ they can open free medical camps in the selected areas of poor countries. In this way free medical advice could be given. Such camps can also start health awarness campaigns to make people aware of unhealthy lifestyles. Moreover‚ experts from the developed countries can also help with the vaccination
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Max weber is the father of father of the bureaucratic management theory. ’This theory has two essential element .The prime one is configuring a institution in hierarchy and second one is the organization and the its people are administered by specific legal decision making rules. He believed that once bureaucracy has established in organization it is extremely defiant to any attempt to remove its power. Weber identified three basic types of legitimate authority‚ Traditional authority- where people
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