Question bias amounts to scrutinizing the wording of a question to ensure that question bias is minimized and that the question is worded such that respondents understand it and can respond to it with relative ease
Indicate whether the statement is true or false
FALSE
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Which of the following is not a purpose of the management representation letter?
a. It reminds management of its responsibility for the financial statements. b. It confirms oral responses obtained by the auditor earlier in the audit and the continuing appropriateness of those responses. c. It decreases the possibility of misunderstanding concerning the matters that are the subject of the representations. d. It implies that the auditor is responsible for the design of the internal controls.
A P.E.S.T analysis identifies important market trends that affect a particular market
Indicate whether the statement is true or false
In a company that employs continuous budgeting on a quarterly basis and has an accounting period that ends December 31 of each year, what period would the first revision and update to the January through December 2017 budget cover?
A. February 2017-January 2018 B. December 2017-November 2018 C. April 2017-March 2018 D. March 2017-February 2018 E. January 2018-December 2018
A company has purchased inventory and received an invoice that requires the buyer to pay the transportation costs for delivering the merchandise. The terms are ________
A) FOB destination B) FOB shipping point C) FOB, 2/10, n/30 D) FOB in transit