Aggregation is the act of clustering several similar products or services
Indicate whether the statement is true or false
TRUE
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Which of the following is not true?
a. Management may outsource their organizations' IT functions, but they cannot outsource their management responsibilities for internal control. b. Section 404 requires the explicit testing of outsourced controls. c. The SAS 70 report, which is prepared by the outsourcer's auditor, attests to the adequacy of the vendor's internal controls. d. Auditors issue two types of SAS 70 reports: SAS 70 Type I report and SAS 70 Type II report.
To effectively use variances to improve operations, management should take the following steps except:
a. Taking appropriate action to follow up on variances. b. Breaking down the total variance by usage and price. c. Adding variances together to determine the impact on financial statements. d. Analyzing cause and effect of both favorable and unfavorable variances.
U.S. GAAP and IFRS provide for which of the following methods of accounting for long-term leases?
a. lease option method and direct lease method. b. direct lease method and indirect lease method. c. lease option method and indirect lease method. d. operating lease method and capital or financing lease method. e. primary lease method and secondary lease method.
As a first step to utilizing diversity what must companies do ?
a. Establish policies b. Learn the human side c. Train managers d. Foster team building