1.The basic concept of internal control that recognizes the cost of internal control should not exceed the benefits expected to be derived is known as: reasonable assurance.
2.An entity’s control activities include all of the following except: external auditor’s tests of controls.
3. Auditors are most likely to gather audit evidence solely using substantive procedures: if the implemented controls are assessed as ineffective.
4.Proper segregation of functional responsibilities in an effective...
QUESTION 1: Discuss the rationale and evolution of Public Enterprises in India since independence.
Answer:
Public Enterprises (PEs) in India, also known as Public Sector Undertakings (PSUs), were established with specific rationales that evolved over different phases since independence.
RATIONALE FOR PUBLIC ENTERPRISES:
Socialistic Pattern of Society: Inspired by the Nehru-Mahalanobis model, PEs were seen as instruments for achieving a socialist society with equitable distribution.
Capital Intensive...
Rivaliteit Rivaliteit betekent dat landen met elkaar wedijveren om sterker en invloedrijker te worden. Voor de Eerste Wereldoorlog leidde dit tot spanningen omdat grootmachten elkaar als concurrenten zagen. Duitse vlootbouw De Duitse vlootbouw was het uitbouwen van een grote oorlogsvloot door Duitsland. Dit werd gedaan om de Britse zeemacht te evenaren en zorgde voor wantrouwen tussen beide landen. Von Schlieffenplan Het Von Schlieffenplan was een Duits oorlogsplan om Frankrijk snel te verslaan.
The Auditor's Report is a formal, written opinion issued by an independent external auditor after examining a company's financial statements. Its purpose is to provide assurance to stakeholders (investors, creditors, regulators) regarding the fairness and reliability of the financial statements in accordance with the applicable financial reporting framework (like GAAP or IFRS).
It is a critical component of financial reporting that adds credibility to the information presented by the management.
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The Income Statement for a manufacturing company is the most complex of all business types because it must accurately track and allocate the costs of converting raw materials into finished goods.
The core complexity lies in the calculation of the Cost of Goods Sold (COGS), which requires the use of several schedules to move costs through three different inventory accounts: Raw Materials, Work-in-Process (WIP), and Finished Goods.
🏭 Key Distinguishing Feature: Cost of Goods Sold (COGS)
The primary
Lok Adalat
*Lok Adalat: A People's Court*
Lok Adalat, also known as People's Court, is a unique approach to delivering justice in India. It's a platform where disputes are resolved through dialogue, negotiation, and mutual understanding.
*Key Features:*
- *Informal Setting*: Lok Adalats are held in informal settings, like community centers or temples.
- *No Lawyers*: Parties represent themselves, without the need for lawyers.
- *Mediator-Like Judges*: Judges act as mediators, facilitating negotiations
1️⃣ Revolt of 1857 – Causes, Nature, Course and Consequences
The Revolt of 1857 was the first large-scale challenge to British authority in India and occurred due to accumulated anger among different sections of society. Politically, British expansion through the Doctrine of Lapse, Subsidiary Alliance and annexation of states like Awadh created resentment among rulers, soldiers and people. Economically, peasants suffered under high taxes, artisans lost their livelihood due to British imports,...
Je bespreekt de economische situatie vlak na WOI in Europa, Duitsland, de VS en België
Europa lag in puin: vernietigde infrastructuur, miljoenen gesneuvelden of getraumatiseerden, grote schulden, en de Spaanse griep zorgde voor nog meer ontwrichting. Duitsland kreeg zware herstelbetalingen opgelegd, belandde in hyperinflatie en politieke onrust. De VS daarentegen was economisch sterk doordat het niet op eigen bodem gevochten had en een industriële grootmacht was geworden. België had vernietiging
The salient features of Indian arts—encompassing sculpture, architecture, painting, music, and dance—are rooted in spiritual depth, pervasive symbolism, continuity of tradition, and remarkable diversity. These features reflect a worldview where the sacred and the secular are often intertwined.
1. Deep Spiritual and Religious Roots 🙏
The most defining feature of Indian art is its direct link to religious and spiritual philosophy.
* Vehicle for Dharma: Art forms were primarily created not just