Which of the following is a change-related activity?
A. Setting objectives for employees
B. Developing employees' skills
C. Monitoring performance
D. Proposing new tactics and strategies
Answer: A
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In which one of the following cases would an auditor most likely issue a qualified opinion?
a. There is a highly material, and very pervasive departure from SFAS No. 141 and No. 142. b. There is a change in accounting principles promulgated by the FASB. c. There is an immaterial dollar misstatement on the financial statements. d. There is one material departure from GAAP that is affects only two accounts.
Sunset Company has a policy of accruing $2300 for every employee as a vacation benefit. Sarah, an employee, took a vacation. Which of the following is the correct journal entry for the vacation benefit paid?
Answer the following statements true (T) or false (F)
1. The balance sheet shows the balance in Bonds Payable plus any discount or minus any premium. 2. The debt to equity ratio measures the proportion of total liabilities relative to the total equity. 3. The lower the debt to equity ratio, the greater the company's financial risk. 4. If the debt to equity ratio is greater than 1, the company is financing more assets with equity than with debt. 5. The fact that invested cash earns interest over time is called the time value of money.
In high context cultures, people tend to form long-lasting relationships that endure over time.
Answer the following statement true (T) or false (F)