Which asset is probably the most difficult to overstate under normal audit procedures?
a. Fixed assets
b. Marketable securities
c. Cash
d. Accounts receivable
c
FEEDBACK: a. Incorrect.
b. Incorrect.
c. Correct. Cash balances can be easily confirmed with financial institutions.
d. Incorrect.
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Mark and his colleagues are members of the union at Newsprint Inc. While negotiating the terms of the labor contract, they request their employer to deduct union dues from their paychecks. This type of contractual arrangement between the two parties is known as a(n)
A. maintenance provision. B. union shop. C. checkoff provision. D. trade-off provision. E. agency shop.
Classical economists assumed that labor was a mobile production factor.
Answer the following statement true (T) or false (F)
The cost of a business product may affect the distribution channel selected for it.
Answer the following statement true (T) or false (F)
All the following statements are true concerning mutual insurance companies except:
A) they may pay dividends B) they are owned by their policyholders C) they are legally organized as perpetual partnerships D) they are nonprofit