In a criminal trial, which of the following is true?
A) At the trial, the grand jury listens to evidence to determine guilt or innocence.
B) To be guilty, the defendant must have had a criminal intent at the time of the crime.
C) The accused is presumed guilty once an indictment has been issued.
D) The government must prove that the accused is guilty beyond all possible doubt.
B
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Indicate which of the following audit procedures, used as tests of controls, do not involve audit sampling.1. Observing and evaluating segregation of duties.2. Testing of whether sales invoices are supported by authorized customer orders and shipping documents.3. Reviewing entity's procedures for accounting for the numerical sequence of shipping documents.4. Examining sales orders for proper credit approval.5. Recomputing the information on copies of sales invoices.6. Comparing the average days outstanding in accounts receivable with industry averages.
What will be an ideal response?
Which of the following would be classified as an extraordinary item on the income statement?
a. Loss on disposal of a segment of business b. Cumulative effect of a change in accounting principle c. A sale of land d. An error correction that relates to a prior year e. A loss from a flood in a location that would not be expected to flood
Saturn car company started a trend with its value pricing strategy of giving customers one price and one price only. The Saturn Web site gave detailed price information without the need for or involvement of a salesperson
What pricing objective did Saturn use?
Liabilities are increased with debits and decreased with credits
Indicate whether the statement is true or false