If r is the discount rate, the formula [1/(1 + r)] refers to the
a. future value interest factor associated with r for one period.
b. present value of some future cash flow.
c. present value interest factor associated with r for one period.
d. future value interest factor for an annuity with a duration of r periods.
C
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In which one of the following instances would an auditor not issue a disclaimer of opinion?
a. The auditors are not invited to the periodic inventory at year end. b. There are significant misstatements in the financial statements. c. There is a significant limitation on the scope of the engagement. d. There is insufficient evidence for the auditor to form an opinion on the fairness of the financial statements.
David, a payroll clerk, came up with an idea for processing payroll more efficiently and presented it to the Human Resources Department manager. This is an example of an upward flow of communication
Indicate whether the statement is true or false
John loans George money and they sign a written agreement whereby George will repay John in monthly installments. Is this loan subject to the Truth-in-Lending Act?
a. Yes, if the loan is for more than $1,000. b. Yes, if John and George live in different states. c. No, if John is not in the business of offering credit. d. No, if John and George are related.
The customer perspective of the balanced scorecard answers which of the following questions?
A. What must we excel at? B. How do we look to shareholders? C. Can we continue to improve and create value? D. How do customers see us?