Which of the following should not be included in an accountant's standard report based upon the compilation of an entity's financial statements?
A. A statement that the compilation was performed in accordance with standards established by the American Institute of CPAs.
B. A statement that a compilation is limited to presenting, in the form of financial statements, information that is the representation of management.
C. A statement that the accountant does not express an opinion but expresses only limited assurance on the financial statements.
D. A statement that the accountant has not audited or reviewed the financial statements.
Answer: C
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The ________ binds the corporation on receipts, checks, and endorsements.
A. treasurer B. chairman C. corporate secretary D. vice president
Answer the following statements true (T) or false (F)
1. A criterion for selecting suppliers is their employee head count. 2. In online reverse auctions, the buyers allow suppliers to submit online bids for products/services as specified by the buyer. 3. For the fixed-price contracts, the administrative burden of signing the contract is very high. 4. Planned purchase orders are used for purchases made on approximate dates and in specified quantities when inventories run low. 5. Money spent on indirect materials is not as high as money spent on direct materials, but it can still be significant.
According to the categorization of multinational organizations, the role of overseas operations for the international organization is
A. sensing and exploiting local opportunities. B. implementing parent company strategies. C. adapting and leveraging parent company competencies. D. differentiating contributions by national units to integrated worldwide operations.
Which of the following is a multilateral treaty?
A) A treaty between the United States and Canada on acid rain B) A treaty between Mexico and the United States on border drug traffic C) A treaty between England, Japan, and the United States on trade with China D) None of the above