Grant Thornton, the fifth largest firm in the accounting industry, has successfully positioned itself as offering ____________ and having ____________
a. high investment yield; "a passion for the business of accounting"
b. limited financial obligation; "a desire to exceed expectations"
c. easy access to partners; "a passion for the business of accounting"
d. low employee turnover; "a desire to exceed expectations"
e. high asset turnover; "a passion for the business of accounting"
c
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If a company's bonds are callable,
a. the investor or buyer of the bonds has the right to retire the bonds. b. the issuing company is likely to retire the bonds before maturity if the bonds are paying 9% interest while the market rate of interest is 6%. c. the bonds are never allowed to remain outstanding until the maturity date. d. the investor never knows what the redemption price will be until the bonds are actually called.
The tolerable deviation rate for a test of controls is generally:
A. unrelated to the expected rate of deviations in the related accounting records. B. identical to the expected rate of deviations in the related accounting records. C. lower than the expected rate of deviations in the related accounting records. D. higher than the expected rate of deviations in the related accounting records.
Which of the following is an appropriate internal control activity for cash?
a. The amount of cash on hand should be kept to a maximum. b. All payments should be made with currency, not checks. c. Banking facilities should be used as little as possible. d. Recordkeeping and custodianship over cash should be performed by separate individuals.
If you close a presentation by reminding the audience of the key ideas presented, what technique are you using to close the presentation?
A) Summarizing the main message B) Asking for what you want C) Visualizing outcomes D) Identifying next steps E) Offering a checklist with timelines