Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides or fellow student.

IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides or fellow student..

I’m stuck on a Accounting question and need an explanation.

Instructions – PLEASE READ THEM CAREFULLY

  • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
  • Assignments submitted through email will not be accepted.
  • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
  • Students must mention question number clearly in their answer.
  • Late submission will NOT be accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
  • Submissions without this cover page will NOT be accepted.

Assignment Question(s):(Marks 5)

IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides or fellow student.

1- Identify 4 of the 6 tests an auditor uses on the bank reconciliation? (1 Mark).

2- What is the difference between a contingent liability and a commitment? (1 Mark).

3- For each of the following situations, indicate what type of audit report is most appropriate:
a. The auditor lacks independence in fact, but not necessarily in appearance.
b. There is a scope limitation and it is material but the overall financial statements are still presented fairly.
c. The uncorrected misstatements are immaterial.
d. There is a departure from GAAP and it is pervasively material. (2 Marks).

4- Distinguish between the following theories of ethical behavior:

a rights-based approach, and a justice-based approach. (1 Mark).

IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides or fellow student.