Which of the following will result in emphasis-of-matter as to consistency in a nonpublic company auditor's report, regardless of whether the item is fully disclosed in the financial statements?
A. Correction of an immaterial error not involving a change in accounting principle.
B. A change from an unacceptable accounting principle to a generally accepted one.
C. A change in classification.
D. A change in accounting estimate.
Answer: B
You might also like to view...
Emotional disagreement directed toward other people is known as
A. cognitive conflict. B. framing effect. C. psychological bias. D. bounded rationality. E. affective conflict.
Whenever cultural variability influences the nature and outcomes of interpersonal communication, which of the following is having an effect?
A. family B. knowledge C. environment D. culture
Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is estimated to be 5 years, or 300,000 units of product, with a $15,000 salvage value. During its first year, the machine produces 64,500 units of product. Determine the machines' first year depreciation under the straight-line method.
A. $27,000. B. $25,800. C. $23,779. D. $29,025. E. $24,000.
Change leaders will be most effective if they have which of the following characteristics?
a. Distrust of organizational fads b. See the world in linear terms c. Low tolerance for ambiguity d. Pessimism