Under PCAOB internal control reporting standards, what are the auditor's communication requirements to the audit committee with respect to material weaknesses?
A. Only those that violate the Foreign Corrupt Practices Act need to be communicated, in written form or orally.
B. All must be communicated in written form.
C. All must be communicated in written form or orally.
D. Only those that violate the Foreign Corrupt Practices Act need to be communicated, but in written form.
Answer: B
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B) Cost per EUP for direct materials = Total direct materials costs / Equivalent units of production for direct materials
A) $116.67 per EUP B) $46.67 per EUP C) $466.67 per EUP D) $186.67 per EUP
Oakwood Inc requires all capital investments to generate an internal rate of return of 16%. Oakwood is currently considering an investment that is expected to generate annual cash inflows of $15,000 for 7 years. The cost of the investment should not exceed:
A) $16,800. B) $37,149. C) $60,579. D) $105,000.
Culture may be defined as learned norms of a society that are based on values, beliefs, and attitudes
Indicate whether the statement is true or false
Which of the following is most likely an example of a non-contingent reward?
A. Performance bonus B. Annual salary C. Monthly commission D. Stock options