An important primary purpose of the auditor's review of the entity's procurement system should be to determine the effectiveness of the activities to protect against:
A. mispostings of purchase returns.
B. excessive shrinkage or spoilage.
C. unauthorized persons issuing purchase orders.
D. improper materials handling.
Answer: C
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You friend, Edwin Slotkin, has started a new business, but has recently encountered a slight cash flow problem. He obtains a $1,000 loan at 10% per year from a local bank, but would like to ask you about the terms. The bank has deducted the interest in advance and he wants to know if 10% is his effective interest rate. How would you respond in an email?
________ is a new business strategy of offering a basic version of a product free of charge and then charging for upgraded versions of the product
A) Price discrimination B) Freemium C) Crowdsourcing D) Reverse marketing E) Dynamic marketing
Which of the following provisions of the Internal Revenue Code can be used to reduce the amount of the income tax expense arising from capital investment projects?
A) Interest deduction B) Depreciation deduction C) Minimum tax provision D) Charitable contributions
Describe human, structural, and customer capital
What will be an ideal response?