Answer the following statements true (T) or false (F)
1. Alice is auditing Wonderland, Inc.; however, she is unable to gather the information she feels is necessary to issue an unqualified opinion. Because of this, Alice should issue an adverse opinion.
2. The Public Company Accounting Oversight Board (PCAOB) reports to the SOX.
3. Many states require CPAs to participate in continuing education that deals with ethics.
4. Behaving ethically and behaving legally are the same.
5. Ethical conduct refers to how society requires people to act.
1. FALSE
2. FALSE
3. TRUE
4. FALSE
5. FALSE
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Lilly's Corporation has working capital of $620,000, and Harmon Corporation has working capital of $840,000. Which of the following statements is incorrect?
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