To test for unsupported entries in the ledger, the direction of audit testing should start from the:
A. Original source documents.
B. Ledger entries.
C. Sales invoices or shipping documents.
D. Externally generated documents.
Answer: B
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If Morales and Rolfes Supply negotiate for the purchase and sale of a supply of fuel for a three-year period for Morales' business,
a. the contract may indicate a method for determining the price, without stating a definite price. b. Morales and Rolfes must depend on the UCC's gap-filler provisions to determine a price since the fuel is a "good" covered by Article 2 of the UCC. c. the contract price must remain the same for the entire three-year contractual period. d. their contractual requirements regarding definiteness would be the same under the UCC and the common law.
Which of the following is the term used for intermediate-range capacity planning with a time horizon of three to eighteen months?
A) material requirements planning B) enterprise resource planning C) strategic planning D) aggregate planning E) job scheduling
Personal selling is likely to be an effective method of promotion for reaching the opinion leaders in the early adopter group.
Answer the following statement true (T) or false (F)
Wanderlust gave a security interest in his Conestoga wagon to Iowa Bank who perfected its security interest by filing a financing statement with the appropriate officials in Iowa. Five months later, Wanderlust hit the trail again, moving to Montana. If Iowa Bank wants to continue its perfected interest in the Conestoga wagon, it should
A. file a continuation statement for another five years in Iowa before Wanderlust moves on. B. re-perfect by filing a financing statement in the appropriate place in Montana, according to Montana law, within four months of Wanderlust's entering Montana. C. repossess the Conestoga wagon. D. file a continuation statement for another four months in Iowa before Wanderlust moves on.