Which of the following is not important documentation for substantive procedures for debt obligations?
a. Copies of the debt agreements.
b. The client's articles of incorporation.
c. A summary of the calculations supporting the compliance debt covenance.
d. Identification of the specific items tested.
b
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A school district supplied school bus service for all children 12 years of age or under who lived at least one mile from school. This service was provided for transportation to and from school. Joanna was a 13-year-old student who lived in that school
district. Joanna's home was 1.2 miles from school. Her parents brought suit against the school district alleging that Joanna was entitled to school bus service and the failure to provide such service denied her the equal protection of the law. Discuss the probable outcome of the lawsuit.
Answer the following statement(s) true (T) or false (F)
1. The following relationship is valid for any waiting line system: the average number in the waiting line is equal to the total waiting time divided by the total time of simulation. 2. Varying the values of controllable inputs enables simulation models to identify good operating policies and decisions. 3. Using simulation to perform risk analysis is like playing out many what-if scenarios by randomly generating values for the probabilistic inputs. 4. All values of the computer-generated random numbers are equally likely and are uniformly distributed over the interval from 0 to 1. 5. Computer-generated random numbers are not technically random, because they are generated through the use of mathematical formulas.
Where the S corporation rules are silent, C corporation provisions apply.
Answer the following statement true (T) or false (F)
If the price a company paid for overhead items, such as utilities, decreased during the year, the company would probably report a(n):
A) favorable efficiency variance. B) favorable spending variance. C) unfavorable efficiency variance. D) unfavorable spending variance.