Cost of the asset$100,000
Life of the asset 5 years
Depreciation rate20%
Capital cost allowance rate 50%
Residual value of the asset nil
Income tax rate 50%
-Who communicates with shareholders through the financial statements?
A) accountants
B) external auditors
C) company management
D) internal auditors

Question

Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-Who communicates with shareholders through the financial statements?
A) accountants
B) external auditors
C) company management
D) internal auditors

Quizplus · Accepted Answer

Company management is responsible for preparing and communicating financial statements to shareholders.

Cost of the Asset$100,000