Which of the following is correct concerning the time period ...

[imanialler]

Which of the following is correct concerning the time period reported on financial statements?
 a. The balance sheet is reported as of a period of time.
  b. The income statement is reported as of a specific date.
  c. The statement of owner's equity is reported as of a specific date.
  d. The income statement is reported as of a period of time.

Question 2

Identifying and eliminating, or at least neutralizing, adversarial bias is no small task. Explain the parties capable of identifying and eliminating, or at least neutralizing, adversarial bias.
 
  What will be an ideal response?

[ttt030911]

Answer to Question 1

D

Answer to Question 2

Identifying and eliminating, or at least neutralizing, adversarial bias is no small task. The first opportunity falls to the expert. Testifying experts have a duty to the court, the public, and the profession to offer objective and independent opinions that will assist the trier of fact. The second opportunity falls to the trial judge, serving as the gatekeeper, who is tasked with excluding unreliable testimony under FRE 702. The third opportunity falls to opposing counsel, who can attempt to expose any bias during cross-examination of the expert. The final opportunity, of course, falls to the trier of fact.