One source of international law can be found in decisions of national and regional courts
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TRUE
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Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000 . If Sawaddee's total assets doubled to $1,000,000 and its owners' equity remained the same during the year, what was the amount of its total liabilities at the end of the year?
a. $220,000 b. $680,000 c. $780,000 d. $900,000
During the initial planning phase of an audit, a CPA most likely would:
A. discuss the timing of the audit procedures with the client's management. B. inquire of the client's attorney as to any unrecorded claims. C. identify specific internal control activities that are likely to prevent fraud. D. evaluate the reasonableness of the client's accounting estimates.
Qualitative reasons for materiality List the reasons why an amount that is quantitatively immaterial might be considered material due to qualitative reasons
Substantive testing techniques provide information about the accuracy and completeness of an application's processes
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