In a governmental audit the auditor:
A. Is only required to report directly to the appropriate officials.
B. Is only required to report to the board or audit committee.
C. Is required to report directly to appropriate officials in addition to the board or audit committee.
D. None of the above.
Answer: C
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Of the four organizational levels, the corporate level is likely to make which of the following decisions?
A) entering a new market B) resource allocation for each product C) strategic plan for individual business units D) choosing specific suppliers for each business unit E) marketing plan for each product
The ability to ship product quickly may mean that
A. new markets will develop more quickly. B. expenditures will increase in consumer durables. C. the process of disintermediation will be slowed down. D. we don't need to rely on the traditional distribution structures.
A debit to Sales Returns and Allowances and a credit to Accounts Receivable:
A. Reflects an increase in amount due from a customer. B. Records the cost side of a sales return. C. Reflects a decrease in amount due to a supplier. D. Is recorded when a customer takes a discount. E. Recognizes that a customer returned merchandise and/or received an allowance.
The ____________________ rate of a fund shows how often the manager buys and sells stocks in the portfolio.
Fill in the blank(s) with the appropriate word(s).