If an auditor doesn't find any problems with the way a firm's financial statements were prepared and presented, the report will offer a(n) _____ opinion.
A. qualified
B. unqualified
C. adverse
D. concurring
Answer: B
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The purpose of an audit is to
a. determine whether or not a company is a good investment b. render an opinion on the fairness of the statements c. determine whether or not a company complies with corporate social responsibility d. determine whether or not a company is a good credit risk
Which of the following is summarized as “past actions that led to positive outcomes tend to be repeated, whereas past actions that led to negative outcomes will diminish”?
A. the law of diminishing returns B. the law of attraction C. the law of effect D. the law of cause
_______ means segmenting and targeting markets precisely and then tailoring offerings to match exactly the demands of those niches
a. Product leadership b. Customer intimacy c. Operational excellence d. Strategy
Danube Corp. purchased a used machine for $17,000. The machine required installation costs of $7,000 and insurance while in transit of $600. At which of the following amounts would the be recorded?
A) $17,000 B) $24,000 C) $17,600 D) $24,600