Audit documentation:
A. may be in paper, electronic, or some other medium.
B. must be in paper form only.
C. must be in electronic form.
D. is not required, but is strongly recommended.
Answer: A
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The correct term for an entry made to the left side of an account is
a. Double-entry system b. Debit c. Credit d. Journalizing
The effect of recording depreciation for the year is a(n)
a. decrease in assets and a decrease in net income. b. decrease in assets but no change in owners' equity. c. increase in assets and an increase in net income. d. decrease in net income and no change in assets.
Which of the following is an example of a zero-level channel?
A) A company takes online orders from customers and ships the products to them. B) An organization uses a combination of direct salespeople and sales agencies to increase sales. C) A company sells its products through wholesalers and retailers. D) A company sells its products through chains of supermarkets and other large sellers. E) A large company forms alliances with smaller companies to increase sales coverage.
From the statements below, which one BEST describes the current state of ethics in government?
A) Instances of conflicts of interest have decreased at the federal level. B) Surprisingly, no politicians were exposed for unethical practices in 2015. C) The hard right and the hard left are finally beginning to compromise. D) Politicians seem to be losing more ground in terms of trustworthiness and ethical values.