Which of the following statements is correct concerning the auditor's opinion on internal control effectiveness?
a. The report describes any material weaknesses and discusses actions taken by management to remediate the problems.
b. The report does not discuss whether the control weaknesses were first identified by management or the auditor.
c. The report does not recognize the integrated nature of the audit and the affect of the material weakness on the planning of the financial statement audit.
d. The report identifies management's actions to remedy the prior year's control weaknesses.
b
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Bonds are a popular source of financing because
a. bond interest expense is deductible for tax purposes, while dividends paid on stock are not. b. financial analysts tend to downgrade a company that has raised large amounts of cash by frequent issues of stock. c. a company having cash flow problems can postpone payment of interest to bondholders. d. the bondholders can always convert their bonds into stock if they choose.
A young American woman named Monica killed her illegitimate child and buried the body in her backyard. Many years later, Monica called Claudio, the local policeman, and told him the entire story over the telephone before he could utter a single word. She then told him that voices from her backyard told her to confess to the crime. Monica told the police where to dig, and they unearthed a metal box containing the skeletal remains of a baby in her yard. Which of the following statements would be true of this scenario?
A. Juries are often welcoming toward insanity pleas, because they fear that innocent defendants might be punished. B. The remains cannot be used as evidence against Monica because Claudio did not inform her of her right to remain silent before she told him her story. C. Insanity on the part of a criminal defendant can affect a criminal trial. D. The remains cannot be used as evidence against Monica because this would violate her Fifth Amendment privilege against self-incrimination.
Which of the following are the components of a revenue plan?
A) return on sales, asset turnover, and return on assets B) percent margins and profitability metrics C) personnel and expenditures D) market share, pricing, and revenues E) break-even sales and shares
Discontinuous panels are sometimes called ________ panels
A) inquisitional B) repeatability C) population D) sample E) omnibus