Accounting 305 Notes sept 14th

Accounting 305 Notes sept 14th - performance Adverse...

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Accounting 305 Notes – September 14 th 2010 Audit: an examination with a defined objective generally: Fair presentation in conformity with GAAP Moral Hazard: Idea that when we cannot directly observe output “managers” tend to overstate
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Unformatted text preview: performance Adverse selection: uncompleted information about a potential assets Example: Used car; home; apartment to be rented...
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