Music is an aesthetic component of all cultures and is accepted as a form of artistic expression and a source of entertainment
Indicate whether the statement is true or false
TRUE
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For each of the following specific audit procedures, indicate the type of audit evidence it is gathering: (1) inspection of records or documents, (2) inspection of tangible assets, (3) observation, (4) inquiry, (5) confirmation, (6) recalculation, (7) reperformance, (8) analytical procedures, and (9) scanning. The audit evidences can be used more than once.a. Discussing the recording of sales discounts in the fourth quarter with the accounts receivable manager.b. Examining sales invoices for supporting customer order and shipping documents.c. Reviewing the accounts payable subsidiary ledger for debit balances or interest bearing payables.d. Sending a written request to the entity's bank requesting the cash balances in the entity's accounts and any other liability balances that the entity
owes the bank.e. Comparing the current-year accounts receivable turnover with the accounts receivable turnover for the industry.f. Examining a new piece of equipment to ensure that a major acquisition was received and is operational.g. Watching the entity's accounting personnel while they prelist cash receipts.h. Footing the entity's bank reconciliation and tracing the balance per the books to the general ledger.i. Recomputing sales price and extensions on sales invoices.j. For a sample of sales transactions recorded in the sales journal, tracing the sales invoices back to customer orders and shipping documents. What will be an ideal response?
What is the impact on the cash flow statement from an increase in short-term notes receivable, assuming the indirect method is used?
a. A decrease in the cash flow from operating activities b. An increase in the cash flow from operating activities c. An increase in the cash flow from financing activities d. An increase in the cash flow from investing activities
Warranties payable and Notes payable are considered which of the following
a. Accounting Liabilities b. Assets c. Stockholders' Equity d. Other Financial Assets
An opinion leader is an individual
A. who exerts direct or indirect social influence over others. B. who is able and willing to cut red tape and move an organization's marketing program forward. C. within an organization who influences decision-making. D. who is able to use moral suasion to get others to comply with the latest trends. E. in an organization who encourages other paid individuals to forward marketer-initiated messages to others via e-mail, social networking websites, and blogs.