Misstatements detected during the audit that were initially deemed to be immaterial need not be summarized to determine their aggregate effects
a. True
b. False
Indicate whether the statement is true or false
False
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Bing's Export Co purchased a new delivery truck at the beginning of 2015 . The truck has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000 . A full year's depreciation expense is to be recorded in 2015 . The truck was driven 20,000 miles during 2015 and 24,000 miles during 2016 . The number of expected miles over five years is 100,000. Refer to information
for Bing's Export Co By what amount would double-declining-balance depreciation exceed straight-line depreciation over the 5-year life of the truck? a. The salvage value of $7,000. b. Cost less total depreciation. c. Cost plus total depreciation. d. Total depreciation expenses under double-declining-balance and straight-line depreciation are equal.
Which of the following is not one of the powers afforded to safety inspectors:
a. to undertake examinations and investigation to ascertain risks to health and safety b. to test or take possession of any article or substance which appears likely to cause danger c. to inspect organisational documents d. to arrest those in contravention of health and safety legislation
________ charts show the chain of command, from the boss down to the line managers and employees
Fill in the blank(s) with correct word
Which of the following steps must be completed before preparing the adjusted trial balance?
A) preparing the post-closing trial balance B) posting of journal entries to the accounts C) preparation of the closing entries D) preparation of the financial statements