The measurement focus and basis of accounting that are most unlike those used by business entities are those used by
A. Proprietary funds.
B. Fiduciary funds.
C. Governmental funds.
D. Contribution funds.
Answer: C
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Test counts are performed by the auditor to give the impression of control and they are not used for substantive testing
a. True b. False Indicate whether the statement is true or false
What characteristic of organisational activity is required for that activity to be effectively offshored:
a. labour-intensive b. unimportant c. location neutral d. expensive
A bailee never has a right to use the bailed property.
Answer the following statement true (T) or false (F)
In the Bank of America/Merrill Lynch acquisition case, a federal judge blocked further action by the company:
a. Until it could establish that its acquisition did not violate antitrust laws. b. Until it settled any state charges brought against Bank of America. c. Until Mr. Lewis resigned. d. Until there was further information regarding waiver of the attorney/client privilege.