Sarah Jones is a communications assistant at Sustainable Living Inc, a nonprofit organization in Las Vegas
Which of the following can give her quick access to emails, video calling, and corporate RSS feeds that help her be in constant touch with the campaigners for the organization?A) virtual world
B) universal dashboard
C) enterprise resource planning system
D) social media information system
B
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After obtaining an understanding of internal controls and assessing control risk of an entity, an auditor decided not to perform tests of controls for purposes of the audit. The auditor most likely decided that:
A. the assessed level of inherent risk exceeded the assessed level of control risk. B. a reduction in the assessed level of control risk is justified for certain financial statement assertions. C. it would be inefficient to perform tests of controls that would result in a reduction in planned substantive procedures. D. the available evidential matter obtained through tests of controls would not support an increased level of control risk.
Which of the following statements is true?
a. The method of preparing the operating activities section of a statement of cash flows which adjusts net income to remove the effects of deferrals and accruals for revenues and expenses is the direct method. b. The method of preparing the operating activities section of a statement of cash flows which reports major classes of gross cash receipts and cash payments for revenues and expenses is the indirect method. c. The FASB prefers the indirect method of preparing the operating activities section of the statement of cash flows. d. Most companies use the indirect method of preparing the operating activities section of the statement of cash flows.
Michael Company had 2,00 . units in work in process at January 1 that were 80 percent complete. During January, 15,00 . units were completed. At January 31, 4,00 . units remained in work in process that were 40 percent complete. Using the average cost method, how many units were started during January?
a. 21,000 b. 18,200 c. 17,000 d. 19,000
A married person who makes a will generally cannot avoid leaving a certain portion of the estate to the surviving spouse.
Answer the following statement true (T) or false (F)