Which of the following audit procedures would provide the least reliable evidence that the entity has legal title to inventories?
A. Confirmation of inventories at locations outside the entity's facilities.
B. Analytical review of inventory balances compared to purchasing and sales activities.
C. Observation of physical inventory counts.
D. Examination of paid vendors' invoices.
B. Analytical review of inventory balances compared to purchasing and sales activities.
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In contrast to the lean producers, U.S. mass producers typically maintain operations that involve all of the following except:
A) less mechanization. B) greater labor direct content. C) divide employees with no overlap. D) limited quality control. E) employee teamwork.
Which of the following is a newer digital medium that is used by advertisers to reach consumers directly?
A) smartphone B) direct mail C) newspapers D) billboards E) television
Using accrual accounting, expenses are recorded and reported only
A) when they are incurred, whether or not cash is paid B) when they are incurred and paid at the same time C) if they are paid before they are incurred D) if they are paid after they are incurred
If the grand jury determines that there is sufficient evidence to hold the accused for trial, it issues a(n) ________.
A. indictment B. information C. arrest warrant D. guilty verdict