Which of the following statements accurately describes a letter or memo of transmittal?
A. It is a certificate that authorizes the use of information from other sources.
B. It is a document that states you have completed a business report and are submitting it tothe concerned person
C. It is a letter sent to the Copyrights office to secure protection against infringement.
D. It establishes your right over your business report and restricts transfer of ownership to others.
B
A short letter or memo of transmittal, composed after the report has been completed, is a
document that states you have completed the report and are submitting it to the person or
persons addressed in the e-mail, letter, or memo.
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You are auditing a store that sells merchandise. Some of the store merchandise is held on consignment. Which account balance assertion for inventory should you be most concerned about verifying?
A. Valuation or allocation. B. Completeness. C. Existence or occurrence. D. Rights and obligations.
The Integrity Helpline (Deloitte and Touche USA LLP) sets out a number of circumstances in which the hotline should be contacted by employees. Which is not one of them?
a. If you believe that ethics and compliance issues are not being resolved b. If you don’t feel comfortable reporting through normal channels c. If the IT systems break down d. If you wish to remain anonymous when filing a report
For busy readers, use a simple "no" without adding detailed explanations in your bad-news messages
Indicate whether the statement is true or false
The unit contribution margin is calculated as the difference between:
A. selling price and product cost per unit. B. fixed cost per unit and variable cost per unit. C. selling price and variable cost per unit. D. fixed cost per unit and product cost per unit. E. selling price and fixed cost per unit.