The plan to manage the supply of purchased items is referred to as a _______.
a. purchasing plan
b. sourcing strategy
c. sourcing plan
d. purchasing strategy
b. sourcing strategy
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Independence Discuss what audit independence is and why it is important to the audit firm and the profession. What are some major threats to audit firm independence and what are some of the steps that audit firms and the profession have taken in addressing those threats?
The accounting equation can be expressed in all of the following ways except ________
a. Assets = Liabilities + Owner's Equity b. Liabilities = Assets + Owner's Equity c. Owner's Equity = Assets ? Liabilities d. Liabilities = Assets ? Owner's Equity
The office employees are paid weekly, earn a total of $500 each day, and work a 5-day week which ends on Friday. If the accounting period ends on Thursday, the adjusting entry for unpaid wages will require a:
a. debit to Wages Expense for $500. b. debit to Wages Payable for $2,000. c. debit to Wages Expense for $1,000. d. credit to Wages Expense for $2,000. e. none of the above.
The Dodd-Frank Wall Street Reform and Consumer Protection Act:
a. was signed into law in 2009. b. authorizes the SEC to issue rules requiring that a publicly held company's proxy solicitation include nominations for the board of directors that have been submitted by shareholders. c. authorizes the SEC to issue rules directing the national securities exchanges to require that no member of a listed company's compensation committee be an independent director. d. All of these are correct.