All of the following refer to the competence of the internal audit function except:
A. supervision and review of internal audit activities.
B. professional certification.
C. the party in the entity to which the internal audit function reports.
D. the quality of internal audit documents and reports.
Answer: C
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The maker of a note recognizes_____________on its income statement
Fill in the blank(s) with correct word
WayToGrow Inc is one of the most popular brand of toys in its home market
The company decides to expand its business abroad and its board of directors feel that instead of trying to establish its presence all at once in multiple markets, it is better to expand one country at a time. This would limit their risk and allow them to analyze customer response, after which they could expand to other similar countries. WayToGrow is following a ________. A) shotgun approach B) continuous approach C) born global approach D) sprinkler approach E) waterfall approach
Only secured creditors are required to file proofs of claims; unsecured creditors do not have to do so.
Answer the following statement true (T) or false (F)
Of the three cost-flow assumptions, when inventory costs have been falling and inventory amounts increasing, LIFO results in balance sheet figures that are _____, cost of goods sold will _____, and _____ reported net income
a. closest to current cost, be out of date, highest b. out of date, closest to current cost, highest c. closest to current cost, be out of date, lowest d. out of date, closest to current cost, lowest e. closest to current cost, closest to current cost, highest