Some cash equivalents appear in the long term investment section of a balance sheet
a. True
b. False
Indicate whether the statement is true or false
False
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PCAOB Auditing Standard 5 does not identify which of the following situations as one in which the auditor will modify the audit report on ICFR effectiveness?
a. When there is a restriction on the scope of the engagement. b. When there is other information contained in management's annual report on ICFR. c. When elements of management's annual report on internal control are incomplete or improperly presented. d. When the annual report includes a copy of the annual certification pursuant to Section 302 of the Sarbanes-Oxley Act.
Stealth, Inc. produces two types of drones, rotary and fixed wing. Stealth estimated $850,000 of manufacturing overhead, and 62,500 machine hours for the year. The allocation base for overhead costs is machine hours. The rotary model actually consumed 28,000 machine hours, and the fixed wing type consumed 34,500 machine hours. How much overhead is allocated to the fixed wing model? (Round intermediary calculations to the nearest cent.)
A) $380,800 B) $469,200 C) $280,000 D) $234,600
Analysts deciding between investments must consider the comparative risks. Which of the following is/are not industry-wide factors that affect the risk of business firms?
a. increased competition b. increased government regulatory actions, such as anti-trust or clean environment policies c. changes in technology d. lack of availability of raw materials e. increased inflation
A freestanding, interactive electronic computer terminal that displays products and related information on a video screen is a(n) _____
a. infomercial b. Web browser c. video kiosk d. point-of-sale terminal