Business Finance
ACCT 401 SEU Differentiating Commitment and Contingent Liability Discussion

ACCT 401

Saudi electronic university

ACCT

Question Description

I’m working on a Accounting exercise and need support.

  • 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 submissionwill NOTbe accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZEROmarks. 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 pagewill NOT be accepted.

I need the questions in the assignment and the answers under them and the cover page

also we have a very strict policy on plagiarism

Unformatted Attachment Preview

College of Administrative and Financial Sciences Assignment (3) Deadline: 11/04/2020 @ 23:59 Course Name: Auditing Principles and Procedures Student’s Name: Course Code: ACCT401 Student’s ID Number: Semester: 2nd CRN: Academic Year: 1440/1441 H For Instructor’s Use only Instructor’s Name: Students’ Grade: # /5 Level of Marks: High/Middle/Low 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). ...
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