A business owned and operated by one person is a(n) ____________________

Fill in the blank(s) with correct word


sole proprietorship

Business

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A flowchart is most frequently used by an auditor in connection with the:

A. performance of analytical procedures of account balances. B. use of statistical sampling in performing an audit. C. preparation of generalized computer audit programs. D. review of the entity's internal controls.

Business

Carrying too much inventory can lead to all of the following except?

a. Plant shutdowns b. Inventory write-downs c. Excess inventory carrying costs d. Storage problems

Business

At one time, if an organization wanted to automate using a computer system, they had to develop the program on their own

Today, there is software available to perform virtually every business function although most of them will not conform exactly to what a company needs. Describe two software tools that can be used for business process analysis and design. What will be an ideal response?

Business

A contract that one party retains the exclusive right to cancel at any time is unenforceable

Indicate whether the statement is true or false

Business