The tour of the manufacturing plant may best assist the auditor in determining which of the following?
a. Whether all purchases are authorized.
b. Whether any machinery is inoperative in the production cycle.
c. Management's strategy for assessing impairment.
d. Estimates of depreciation expense.
b
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Which of the following involves the disclosure of unethical or illegal activities to someone who is in a position to take action to prevent or punish the wrongdoing?
A. Whistle-blowing B. Flyposting C. Gentrification D. Redlining
The new leader must make a conscious effort to distance himself from the people being led
Indicate whether the statement is true or false
The Magnuson-Moss Warranty Act requires manufacturers to provide written warranties
Indicate whether the statement is true or false
Ron is an accountant who was contacted by Zebra Toy Company to prepare financial statements. Zebra Toy Company told Ron that it wished to present these documents to Lion Wholesalers, Inc., a large supplier of toys. If Lion is convinced that Zebra Toy Company is financially solid, it will issue Zebra a large line of credit. ? After Ron prepares the financial documents, Zebra presents the information to Lion Wholesalers and also to Tiger Toy Company, another wholesaler of toys. Zebra wishes to obtain a line of credit from Tiger as well as from Lion. If Ron committed a serious error by overstating Zebra Toy Company's financial soundness and the two creditors, Lion and Tiger, are damaged as a result, can these third parties recover damages from Ron? Explain.
What will be an ideal response?