In considering contingencies, IFRS and GAAP define the term "probable" as
A) IFRS - likely; GAAP - likely
B) IFRS - likely; GAAP - more likely than not
C) IFRS - more likely than not; GAAP - likely
D) IFRS - more likely than not; GAAP - more likely than not
C
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When you present your speech with an extemporaneous style, your presentation is
A) read word-for-word B) off-the-cuff C) prepared and well-rehearsed D) memorized
One concern of the internal auditor is the efficiency with which the organization is run
a. True b. False Indicate whether the statement is true or false
Which of the following components of a compensation plan adjusts for differences in territory potential?
A) salary B) commission C) bonus D) incentive payment
Helena Co began operations on January 1 . 2014, with $100,000 from the issuance of stock and borrowed funds of $15,000 . Net income for 2014 was $5,000 and Helena paid a $400 cash dividend on December 15 . No additional activities affected owners' equity in 2014 . At December 31 . 2014, Helena's liabilities had increased to $18,800 . In Helena's December 31 . 2014, balance sheet, total assets
should be reported at a. $119,600. b. $120,000. c. $123,400. d. $138,400.