When Microsoft Access 2013 uses user-level security with an Access 2003 database file, it stores the database in a(n) ________ file
Fill in the blank(s) with correct word
Ans: .MDB_
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If a company understates its ending inventory balance for 2015 by $15,500, what are the effects on its net income for 2015 and 2014? Effect on 2015 Net Income Effect on 2014 Net Income
a. Overstated by $15,500 Understated by $15,500 b. Understated by $15,500 Overstated by $15,500 c. Understated by $15,500 No effect d. Overstated by $15,500 No effect
Under the Sarbanes-Oxley Act, accountants must surrender possession of working papers relating to an audit or review to the party for whom the work was performed
Indicate whether the statement is true or false
The management of Osborn Corporation is investigating an investment in equipment that would have a useful life of 8 years. The company uses a discount rate of 12% in its capital budgeting. The net present value of the investment, excluding the annual cash inflow, is -$401,414. To the nearest whole dollar how large would the annual cash inflow have to be to make the investment in the equipment financially attractive? (Ignore income taxes.)See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.
A. $48,170 B. $401,414 C. $80,800 D. $50,177
Unauthorized Indorsements. While Wanda Snow was married to Cary Byron, Byron established an account with Shearson Lehman Hutton, Inc—a securities brokerage firm—for Wanda's son by a previous marriage. Wanda was designated as the account custodian
After Wanda and Cary had separated but before their divorce became final, Byron wrote a letter to Shearson instructing Shearson to close the account and send the proceeds (about $44,000) to a Florida bank account. Byron forged Wanda's signature on the letter. Later, Byron called Shearson, identified himself, and asked that the proceeds be sent instead to Wanda Snow in care of Byron's cousin in Connecticut. Byron obtained the check, forged Wanda's indorsement on it, and deposited the check into his bank account, later applying the proceeds to his personal use. Wanda sued Byron, Shearson, and the bank to recover the funds. In her claim against the bank, Wanda alleged that the bank was liable for paying the check over a forged indorsement. The bank raised the "imposter rule" as a defense. Is the imposter rule applicable to these circumstances? Why or why not?