The doctrine of substantial performance is concerned with the issue of whether an imperfect performance will be considered adequate to discharge one's responsibilities under a contract.?
Indicate whether the statement is true or false
True
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Which of the following areas of control for organizations exerts informal control?
A. Structural B. Human resources C. Informational D. Cultural E. Competitive
Compilation Reporting A banker friend and you were discussing compiled financial statements. He said," When CPAs associate their name with compiled financial statements, their only responsibility is to the client and that is limited to the proper
summarization and presentation on the financial statement information provided by the client. The opinion clearly states that the auditor has not conducted an audit and does not express an opinion on this fair presentation. Therefore, if users rely on compiled financial statements, they do so at their own peril and can never hold the CPA responsible for inadequate performance. Users should interpret the financial statements as if they had been prepared by management.". REQUIRED: How would you respond to your friend?
The market price of a bond issued at a discount is the present value of its principal amount at the market (effective) rate of interest
a. plus the present value of all future interest payments at the market (effective) rate of interest. b. plus the present value of all future interest payments at the rate of interest stated on the bond. c. minus the present value of all future interest payments at the market (effective) rate of interest. d. minus the present value of all future interest payments at the rate of interest stated on the bond.
How does informal authority develop?
What will be an ideal response?