You should define the scope of the topic during the opening so the audience does not ask unnecessary questions
Indicate whether the statement is true or false
True
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The client makes estimates relative to recorded amounts in the financial statements. Which of the following assumptions best represents the auditor's primary focus regarding the reasonableness of such estimates?
a. That historical trends are followed. b. That income is managed. c. That there is an adequate cushion. d. That management reverses estimates when opportune.
An assembly line to be balanced has six tasks in precedence. The task times are shown in the following table. Based on demand forecasts, the output rate has to be 160 units per day. The line operates 8 hours a day. Compute the task sequence using the most-following-tasks rule.
a. A, C & B, D, E, F
b. A, B & E, C, D, F
c. A, B, C, D, E, F
d. A, B, C, D & E, F
Time lines can be constructed for annuities where the payments occur at either the beginning or the end of the periods.
Answer the following statement true (T) or false (F)
Ryan, a college student, intends to sell his car. He contacts his friend Luiz and inquires whether he is interested in buying the car. Luiz finds the quoted price reasonable and buys the car from Ryan. In this scenario, Ryan is the _____
A) claimant B) offeror C) acceptor D)summoner