Because a time clock is used, no supervision is required when employees enter and leave the work place
Indicate whether the statement is true or false
F
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Which of the following is not a reason why the auditor needs to take special care to review significant estimates in the financial statements?
a. Organizations may try to use the estimates to "smooth" earnings. b. Organizations may create hidden reserves in unusually good years that can be used in years when real profits do not meet expectations. c. Companies may underestimate liabilities or impairment of asset values to achieve reported earning goals in years when real profits to not meet expectations. d. Companies may try to overestimate liabilities in computing leverage ratios.
Unresolved channel conflict can result not only in an uncooperative and inefficient channel, but it can also ultimately impact end-user consumers through ________.
A. intensive distribution B. increased supply C. increased demand D. selective distribution E. higher prices
Catastrophic losses are not insured by the private insurance industry because:
A) if a truly catastrophic loss occurs, it can threaten the solvency of the insurer B) catastrophic losses can result from an individual's moral hazard C) the federal government wants to insure catastrophic losses D) the losses require foreign reinsurance companies to operate in the U.S.
People are more willing to purchase or increase their insurance coverage when
A) economic conditions are favorable and incomes are lower. B) economic conditions are favorable and incomes are higher. C) economic conditions are weak and incomes are lower. D) None of the above.