Cassie conforms to the norms established by her church and ensures that her behavior always meets the expectations set forth by her parents and the church. According to Kohlberg's model of cognitive moral development, she resides in the ________ stage.
A. principled
B. utilitarian
C. preconventional
D. postconventional
E. conventional
Answer: E
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Which of the following is not an internal control the auditor would expect to find in place for all cash processing systems?
a. Restrictive endorsement of checks. b. Independent reconciliation. c. Walkthrough. d. Prenumbered cash receipt documents.
The use of the allowance for doubtful accounts approach:
a. should not be used if the customers are highly concentrated. b. increases the allowance for doubtful accounts when an account is written off. c. results in a matching of uncollectible accounts expense with the related sales that led to the expense. d. does not recognize an expense when the allowance is set up.
Unsecured loans are generally less risky to lenders than secured loans. Therefore secured loans typically charge a higher APR than unsecured loans
Indicate whether this statement is true or false.
At one time, prime and subprime RMBS were traded in separate markets. Why?
What will be an ideal response?