When assessing fair value of Level 2 assets, auditors will use information on the sale of identical items in active or inactive markets as a source of audit evidence
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is not an example of an access control?
A. firewalls B. proxy servers C. digital signatures D. login passwords
A well-written executive summary is often the key to whether a report communicates or not
a. true b. false
Mason has a special project due at the end of the month. He is worried about completing the project on time because he has been placed into a team of people that he has never met before. They have all worked in the company for many years, but they are also all from different departments. Mason’s team is a
a. Cross-functional team b. Self-managing team c. Problem-solving team d. Virtual team
On November 1, Arvelo Corporation had $32,000 of raw materials on hand. During the month, the company purchased an additional $78,000 of raw materials. During November, $95,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $3,000. Prepare journal entries to record these events. Use those journal entries to answer the following questions:The credits to the Raw Materials account for the month of November total:
A. $95,000 B. $32,000 C. $110,000 D. $78,000