In Whalen v. Union Bag & Paper Co, the New York Court of Appeals held that a pulp mill could be forced to cease operations if it polluted a creek, even if it was not negligent
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following best describes the distinguishing feature of statistical sampling?
A. It reduces the problems associated with the auditor's judgment concerning materiality. B. It requires the examination of a smaller number of supporting documents. C. It permits the auditor to use the most efficient sample size and to quantify the sampling risk to reach a statistical conclusion about the population. D. It is evaluated in terms of two parameters: statistical mean and random selection.
Which one of the following is a factor that creates a need for an independent auditor's assessment of the financial statement presentation?
a. Complexity of transactions affecting the financial statements. b. Lack of criteria on which to base information. c. Remoteness of the user from the organization. d. Both A and C. e. Both A and B.
Which of the following is used by companies to separate cash duties and establish stronger control over cash receipts?
A) an encryption system B) an imprest system C) a lock-box system D) a firewall system
Large business enterprises employ financial accountants who are primarily concerned with__________ financial reporting
a. corporate tax b. management c. external d. international