The assumption that requires that a business be accounted for separately from its owners is the ________ assumption.
What will be an ideal response?
business entity
You might also like to view...
If trying to use the balanced scorecard, what should a manager do for the category “internal business process”?
a. Set and pursue target values for five or six meaningful measures of internal business process. b. Seek to increase productivity in the “employee promotions” and “employee productivity” fields. c. Evaluate the relationships between managers and subordinates over a specific period. d. Have employees take a survey about workflow and score the responses for an overall measure.
Effective short-term objectives should be ________ and ________.
A. specific; measurable B. motivating; not limiting C. achievable; not challenging D. time defined; not limiting
An audit independence issue might be raised by the auditor's participation in consulting services engagements. Which of the following statements is most consistent with the profession's attitude toward this issue?
A. The decision as to loss of independence must be made by the client based on the facts of the particular case. B. The auditor should not make management decisions for an audit client. C. The auditor who is asked to review management decisions, is also competent to make these decisions and can do so without loss of independence. D. Information obtained as a result of a consulting services engagement is confidential to that specific engagement and should not influence performance of the attest function.
Sally is a high school math teacher. In 2018, she purchases $400 worth of supplies related to her teaching. Her spouse, Gabe, is a high school math teacher and spends $100 in education supplies for his classes. If married filing jointly, what is the 2018 for AGI educator’s expenses deduction?
A. $0 B. $250 C. $350 D. $500 E. None of the above