Which of the following accounts is not included in the calculation of net income?
A. Rent revenue.
B. Rent expense.
C. Wages expense.
D. Services revenue.
E. Cash.
Answer: E
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Which statement is not true? Embedded audit modules
a. can be turned on and off by the auditor. b. reduce operating efficiency. c. may lose their viability in an environment where programs are modified frequently. d. identify transactions to be analyzed using white box tests.
Intentional misrepresentation is considered fraud
Indicate whether the statement is true or false
Which of the following is true of Section 24 of the Securities Act of 1933?
A) It imposes civil liability on any person who violates the provisions of Section 5 of the act. B) It imposes criminal liability on any person who willfully violates the 1933 act or the rules or regulations adopted. C) It imposes civil liability on persons who intentionally defraud investors by making misrepresentations of material facts in the registration statement. D) It exclusively regulates the sale of securities online.
Fixed assets are those that:
A. include cash. B. will be used over a long period of time. C. are similar to loans and advances. D. are intangible.