Lako Systems is calculating the firm's training costs. While they were able to easily account for the direct costs of the programs, their calculations were somewhat misleading because they left out the indirect costs associated with
A. lost productivity.
B. employee travel.
C. trainers' salaries.
D. meeting site fees.
Answer: A
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The Performance section of Principles Underlying an Audit Conducted in Accordance with GAAS states that for auditors to obtain reasonable assurance, they need to do all of the following except:
A. obtain sufficient appropriate audit evidence. B. determine and apply appropriate materiality levels. C. identify and assess risks of material misstatement. D. make sure all audit team members have adequate training.
Using the function Eval applied as shown in the image, what is the result?
Public Function Eval(FV As Single, Rate As Single, NPer As Single, Price As Single) As String
If -Application.WorksheetFunction.PV(Rate, NPer, 0, FV) < Price Then
Eval = "Underpriced"
ElseIf -Application.WorksheetFunction.PV(Rate, NPer, 0, FV) = Price Then
Eval = "Fairly Priced"
Else
Eval = "Overpriced"
End If
End Function
a) Underpriced
b) Fairly Priced
c) Overpriced
Winston Company sells magazine subscriptions for one- to three-year subscription periods. Cash receipts from subscribers are credited to Magazine Subscriptions Collected in Advance, and this account had a balance of $9,600,000 at December 31 . 2013 . before year-end adjustment. Outstanding subscriptions at December 31 . 2013 . expire as follows: During 2014
......................................... $2,600,000 During 2015 ......................................... 3,200,000 During 2016 ......................................... 1,800,000 In its December 31 . 2013 . balance sheet, what amount should Winston report as the balance for magazine subscriptions collected in advance? a. $2,000,000 b. $3,800,000 c. $7,600,000 d. $9,600,000
A lease that stated that rent was to be paid on the first of each month, starting on June 1, 2002,
but did not state when the lease ended would be a: A) Tenancy in fee simple. B) Tenancy at will. C) Tenancy for years. D) Periodic tenancy. E) Tenancy at sufferance.