An agent is the person or entity for whom principals carry out their authority
Indicate whether the statement is true or false
false
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Which of the following factors affect the substantive procedures performed in an audit?
a. The subjectivity of accounting process. b. Size of the account. c. Effectiveness of the relevant controls. d. All of the above affect the substantive procedure that are performed.
The collection of elements or objects that possess the information sought by the researcher and about which inferences are to be made is a ________
A) population B) target population C) element D) census
On January 1, a company issues bonds dated January 1 with a par value of $240,000. The bonds mature in 5 years. The contract rate is 11%, and interest is paid semiannually on June 30 and December 31. The market rate is 10% and the bonds are sold for $249,262. The journal entry to record the issuance of the bond is:
A. Debit Cash $249,262; credit Bonds Payable $249,262. B. Debit Bonds Payable $240,000; debit Bond Interest Expense $9262; credit Cash $249,262. C. Debit Cash $249,262; credit Premium on Bonds Payable $9262; credit Bonds Payable $240,000. D. Debit Cash $249,262; credit Discount on Bonds Payable $9262; credit Bonds Payable $240,000. E. Debit Cash $240,000; debit Premium on Bonds Payable $9262; credit Bonds Payable $249,262.
Which of the following is a feature of traditional "conversations" from organizations' websites?
A) The content on these websites is created by users. B) They provide tools to rate or air opinions about their products. C) They allow no convenient means of engaging in a conversation about any topic. D) They employ a many-to-many model of conversation.