On a partner's dissociation, his or her right to participate in the management and conduct of the business terminates.?
Indicate whether the statement is true or false
True
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According to the FRC which of the following attributes contributes to the reliability and usefulness of audit reporting?
a. The audit methodology is well structured. b. Quality technical support is available when auditors require guidance. c. Auditors appropriately conclude as to the truth and fairness of the financial statements. d. The audit work is effectively reviewed.
Which of the following categories of investments can be both debt and equity securities?
a. Available-for-sale securities b. Trading securities c. Held-to-maturity securities d. Both available-for-sale and trading securities
If 34,000 units are 80% complete with respect to direct materials, then the equivalent units of production for direct materials are ________. The weighted-average method is used.
A) 34,000 units B) 27,200 units C) 6800 units D) 40,800 units
A firm computes ROA, profit margin for ROA, and total assets turnover for each segment using the segment disclosures. The amounts for these ratios computed at a segment level differ from those at a corporate level for which of the following reason(s)?
a. The numerator of ROA at a firm-wide level includes all revenues and expenses except interest expense net of taxes, whereas the numerator of ROA using the segment data includes operating revenues and expenses only. b. The denominator of ROA at a firm-wide level is the average of assets at the beginning and end of the year, whereas total assets at the end of the year are used in computing segment ROAs. c. The denominator of ROA at a firm-wide level is the total assets at the end of the year, whereas the average of assets at the beginning and end of the year, are used in computing segment ROAs. d. choices a and b e. choices a and c