An auditor's consideration of materiality is a matter of professional judgment and is influenced by the auditor's perception of the needs of users of financial statements
a. True
b. False
Indicate whether the statement is true or false
True
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Four underlying problems that called pre-SOX federal security law adequacy into question were addressed in the text. Discuss two of these problems
Answer the following statements true (T) or false (F)
1. Using simple words will make you seem simple. 2. Antithesis involves presenting opposites within the same or adjoining sentences. 3. Describing water with “plip, plop, plop” is an example of onomatopoeia. 4. You should plan to use the personal pronouns I, us, me, we, and you in your speech.
President/CEO to her Controller: "On the golf course yesterday I overheard John Jeffers, the CEO for Octal, say that the problem with many manufacturing companies today is their antiquated manufacturing cost accounting systems. It appears to me that our
cost accounting system has served us well as our company has grown and should continue to serve us well as we move into JIT production with our new flexible manufacturing system." As the Controller, respond to the President/CEO.
Answer the following statements true (T) or false (F)
The requirements of SFAS No. 13 represent conservatism because a higher interest rate will cause a higher present value and could therefore result in lease capitalization.