Under common law, which standard may a client sue an auditor for failure to demonstrate due care?
a. Negligence
b. Gross Negligence
c. Fraud
d. All of the above.
d
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Four steps are necessary in preparing a production cost report:
1. Compute output in terms of equivalent units of production 2. Assign costs to units completed and units in process 3. Summarize the flow of physical units 4. Compute the cost per equivalent unit of production Place these steps in the correct order. A) 1, 3, 2, 4 B) 3, 1, 4, 2 C) 2, 1, 4, 3 D) 4, 2, 1, 3
Which of the following statement best provides constructive criticism?
A) You seem to think that you can submit any kind of work and that it doesn't matter. B) Your work is often shoddy. C) Producing inferior work often causes this company to lose time and money. D) You need to produce work that meets this company's standards.
Which of the following contracts requires a writing under the UCC, Article 2?
a. Jeremy, a full-time student, sold his snow blower to a friend for $450. b. Kayla, a full-time student, purchased a used computer from Office Plus for $300. c. A toy manufacturer contracted to sell dolls valued at $10,000 to a department store. d. Tobias Department Store contracted to sell Jenny a $400 doll.
A business repays the amount borrowed on a note with cash. Which of the following accounts is debited?
A) Cash B) Accounts Payable C) Notes Payable D) Notes Receivable