Al Mamari LLC is one of the oldest businesses in Oman. Till now they were using a very simple method of maintaining accounts and generating some sort of financial statements for a review. Imagine that you have just finished your bachelor's degree in accounting and from now you are taking care of all accounting information of the company. Upon looking you found that there was no conceptual framework being followed and because of that__ problems were there. O a. The effect of transaction on balance sheet is more than income statement O b. It also creates problem in implementing rule-based accounting O c. All of the options O d. There was no consistency in the results of the company

Al Mamari LLC is one of the oldest businesses in Oman. Till now they were using a very simple method of maintaining accounts and generating some sort of financial statements for a review. Imagine that you have just finished your bachelor's degree in accounting and from now you are taking care of all accounting information of the company. Upon looking you found that there was no conceptual framework being followed and because of that__ problems were there. O a. The effect of transaction on balance sheet is more than income statement O b. It also creates problem in implementing rule-based accounting O c. All of the options O d. There was no consistency in the results of the company

Name: Al Mamari LLC is one of the oldest businesses in Oman. Till now they w
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Description: Al Mamari LLC is one of the oldest businesses in Oman. Till now they were using a very simple method of maintaining accounts and generating some sort of financial statements for a review. Imagine that you have just finished your bachelor's degree in

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter2: The Auditor’s Responsibilities Regarding Fraud And Mechanisms To Address Fraud: Regulation And Corporate Governance

Section: Chapter Questions

Problem 8CYBK

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