Which assertions may be tested for the "account balances" category of management assertions?
A. Occurrence, accuracy, rights and obligations, completeness.
B. Existence, cutoff, rights and obligations, completeness.
C. Existence, rights and obligations, completeness, accuracy, valuation, allocation, and classification.
D. Occurrence, rights and obligations, completeness, valuation and allocation.
Answer: C
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Which of the following is/are not true?
a. Convertible preferred shares give the holder of preferred shares the right to convert the preferred shares into a specified number of common shares under certain specified conditions. b. Changes in the market price of convertible preferred shares will often parallel changes in the market price of common shares because of the conversion option. c. Convertible preferred shares provide the security holders with the possibility of capital appreciation by converting the preferred shares into common shares if the market price of the common shares rises sufficiently. d. The issuing firm benefits from issuing convertible preferred shares, because these shares carry a lower dividend rate than purchasers otherwise would have required to buy the shares for a given price. e. none of the above
What is an example of task-based performance measures?
a) Accomplishment of goals b) Establishing relationships c) Maintaining relationships d) Effectively interacting with management
Which of the following statements is true about capacity utilization and capacity efficiency?
a. Either measure can be used independently of the other. b. Using one measure only and ignoring the other can lead to misleading conclusions about capacity performance. c. Capacity utilization can be calculated given capacity efficiency and design capacity. d. Capacity utilization can be calculated given capacity efficiency and effective capacity.
The balance sheet shows:
A. the amount of net income or loss. B. the financial position of a business at a given time. C. all revenues and expenses. D. the results of business operations.