Which of the following is least likely to be required on an audit?
A. Make a legal determination of whether fraud has occurred.
B. Test appropriateness of journal entries and adjustments.
C. Evaluate the business rationale for significant, unusual transactions.
D. Review accounting estimates for biases.
Answer: A
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Answer the following statements true (T) or false (F)
1. A company's investments in stock or bonds cannot include the acquisition of an entire company. 2. Just as individuals invest in a variety of companies' stocks and bonds, the same is true for businesses. 3. The owner of a bond or stock of a corporation is referred to as the investor. 4. A preferred stock is an example of a debt security.
Internal control of cash receipts aims to ensure that all cash received is properly recorded and deposited.
Answer the following statement true (T) or false (F)
"With the computing power available today, I'm surprised that the quantitative management approach is not widely used to make management decisions and solve management problems," said Guy. "I believe that there are several explanations for the limited use of quantitative management. For example, ________," replied his manager.
A. many of the decisions managers face are nonroutine and unpredictable B. managers will use results obtained by quantitative management even if the results are not consistent with the managers' experience, intuition, and judgment C. all management decisions can be expressed with mathematical symbols and formulas D. quantitative management is never used in production or quality control E. all managers have been trained to use quantitative management
What is a tracking Gantt chart and what are the benefits and drawbacks of its use?
What will be an ideal response?