The following statement is representative of attitudes and opinion sometime enco
ID: 2377166 • Letter: T
Question
The following statement is representative of attitudes and opinion sometime encountered by CPAs in their professional practices: "It is important to read the notes to financial statements, even though they often are presented in technical language and are incomprehensible. The auditors may reduce their exposure to third-party liability by stating something in the notes that contradicts completely what they have presented in the balance sheet or income statement."
Evaluate the above statement and indicate:
Explanation / Answer
A relationship between cash receipt and customer for an enterprise has cardinalities (0,1) cash receipt