Which of the following statements is false regarding materiality judgments?
a. Materiality judgments are a matter of professional judgment.
b. Materiality judgments depend on the needs of a reasonable person (an investor, potential investor, or other stakeholder) relying on the information.
c. Materiality judgments involve both quantitative and qualitative considerations.
d. Materiality judgments are easy for auditors to make.
d
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An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $182 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $150 and contributes $75 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.)
A. $4,672.25 B. $4,628.25 C. $4,827.00 D. $4,386.25 E. $4,430.25
A $300,000 bond was redeemed at 98 when the carrying value of the bond was $295,000. The entry to record the redemption would include a
A) loss on bond redemption of $5,000. B) gain on bond redemption of $5,000. C) gain on bond redemption of $1,000. D) loss on bond redemption of $1,000.
Marcus is a member of a protected group and was turned down for a position at Felton Corp. He has alleged that Felton has unintentionally discriminated against him based on this group membership. Marcus is pursuing an adverse impact claim.
Answer the following statement true (T) or false (F)
Fierce domestic competition in New Schuyler makes a tough environment for any motorcycle company. Success requires top-notch engineering of chassis and engines, as well as keeping costs and fuel consumption in check. As a result, New Schuyler's motorcycles have a competitive advantage in the global market. According to Porter's diamond framework, this scenario shows the influence of competitive intensity in
A. supportive complementors. B. a peripheral industry. C. related complementors. D. a focal industry.