Assessing control risk at a lower level involves all of the following except:
A. performing tests of controls.
B. identifying specific controls to rely on.
C. concluding that controls are ineffective.
D. analyzing the achieved level of control risk after performing tests of controls.
Answer: C
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Costs that are incurred when customers complain are:
a. Detection costs. b. Failure costs. c. Preventions costs. d. Appraisal costs.
Nancy was a partner of a small business. She could see that the business was beginning to fail and that it was very unlikely it would recover. Not wanting to lose her investment, she asked that the court require the partnership to dissolve since she did not have a legal right to withdraw at that time. Does a court have the authority to order a partnership to dissolve?
a. Yes. A court can dissolve a partnership when it is convinced that the partnership is unlikely to succeed. b. Yes. Under the UPA, if a partner can show the court the business suffered a loss the year before the case was filed, the court can dissolve the partnership. c. No. A court can only dissolve a partnership at the request of all the partners. d. No. A court does not have authority to dissolve the partnership.
Competitive advertising tries to
A. build demand for a product category. B. promote the competitive products of an industry rather than a particular firm. C. keep a product's name before the public. D. develop selective demand rather than primary demand. E. create goodwill for a firm.
The Clean Air Act requires the use of reformulated automotive fuels to reduce ozone pollution
Indicate whether the statement is true or false