Question
Ram can finish a task alone in 45 days, whereas Ram and
Rahul working together can complete the same task in 12 days. If Rahul works on the task alone for 9 days, what percentage of the task will he complete?Solution
Let the total work = L.C.M of 45 and 12 = 180 units Then, efficiency of Ram = 180 Ă· 45 = 4 units/day Combined efficiency of Ram and Rahul = 180 Ă· 12 = 15 units/day So, efficiency of Rahul alone = 15 - 4 = 11 units/day Work done by Rahul in 9 days = 11 X 9 = 99 units So, percent of work completed = (99/180) X 100 = 55%
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
During a statutory audit, the auditor discovers a pattern of journal entries posted near year-end reversing shortly after year-end that inflate reported...
Which auditing standard outlines the auditor's responsibilities relating to fraud in an audit of financial statements?
Which of the following financial statements can be prepared using a receipt and payment account?
Who is primarily responsible for preventing and detecting frauds in an organisation?
Suppose an NPO receives a donation of $10,000 from a donor. The entry to record this transaction would be as follows?
An auditor finds material misstatements due to fraud but the management refuses to take corrective action. What should be the auditor’s next step?
The scope of internal audit is decided by the :
As per SA 230, audit working papers must be retained for:
Which of the following constitutes the most reliable audit evidence?
