If the old backlog was 200 units, the forecast for the next period is 500 units, and production for the
next period is 600 units, what will be the backlog at the end of the next period?
A) 100 units B) 200 units C) 300 units D) 700 units E) 800 units
A
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As a starting point for testing capital stock and equity transactions, which of the following should the auditor perform?
a. Trace the proceeds of stock sold to the cash receipts journal. b. Review the minutes of the board of directors meetings. c. Examine documentation maintained by the transfer agent. d. Review a copy of the client's articles of incorporation.
To calculate a company's average tax rate an analyst would
a. Divide income tax payable by income before taxes b. Divide income tax expense by income before taxes c. Multiply the statutory income tax rate by income before tax d. Average a firm's Federal, State, Local and Foreign tax rates.
Which of the following statements is true about Hindu law?
A) It is based on writings of the Positivist School that date from the Thirteenth Century. B) It is based on a belief in the collectivization of agricultural property. C) It is linked to the revelation of the Vedas, a collection of religious songs and prayers. D) It is essentially nonreligious and impersonal, basing its fundamental teaching on objective reasoning and logic.
Which of the following is true of monetary damages?
A. Monetary damages are available only for material breaches of contract. B. Dollar damages are not monetary damages. C. Compensatory damages are not monetary damages. D. Consequential damages are monetary damages.