Auditors are periodically punished for holding an investment in a client. This violates which ethical rule?
A. Integrity.
B. Independence.
C. Non compliance with GAAP.
D. Confidentiality.
B. Independence.
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To revitalize the downtown area both the merchants and the city plans to spend $1 million dollars on new lighting, walkways and storefronts
What will be an ideal response?
Corbin Company has two checking accounts. A special account is used for the weekly payroll only, and the general account is used for all other disbursements. Every week, a check in the amount of the net payroll is drawn on the general account and deposited in the payroll account. The company maintains a $5,000 minimum balance in the payroll account. On a monthly bank reconciliation, the payroll
account should a. reconcile to $5,000. b. show a zero balance per the bank statement. c. show a $5,000 balance per the bank statement. d. be reconciled jointly with the general account in a single reconciliation.
The ____________________________compares the last modification date and time of objects to determine if invalidation occurs.
Fill in the blank(s) with the appropriate word(s).
Which of the following data must a franchisor disclose if the franchisor makes sales or earnings projections for a potential franchise location that are based on the actual sales, income, or profit figures of an existing franchise?
A) contract details of the franchisor and the existing franchises B) management methods that have been adopted by the existing franchises C) the number and percentage of its actual franchises that have obtained such results D) any sales or marketing strategy employed by the franchisor in acquiring such results