The purpose(s) of auditing is(are) to ________
A) develop opinions on the health of controls
B) find punishable instances of noncompliance
C) Both A and B
D) Neither A nor B
Answer: A
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Tahoma Inc. has extensively made use of cloud computing for several functions of its HR department. This technology has helped manage department functions, store necessary data, and also has given employees access to the required databases to resolve customer queries and complaints. Which scenario, if true, would disrupt the services provided by this arrangement?
A. many other companies making use of this device to store and manage data B. Internet access in the facility becomes intermittent for three hours every day C. the company's computers not having capacity for all the software required D. an updated version of the cloud, including multiple new features, becomes available E. the company not having enough servers to host the system
A conditional sales contract is an example of a(n):
A. document of title. B. investment property. C. chattel paper. D. negotiable instrument.
Financial information for Sigma Company is presented below. Calculate the following ratios for Year 2:(a) Inventory turnover.(b) Accounts receivable turnover.(c) Return on total assets.(d) Times interest earned.(e) Total asset turnover.?Year 2Year 1Assets:??Cash$ 18,000$ 22,000Marketable securities25,0000Accounts receivable38,00042,000Inventory61,00052,000Prepaid insurance6,0009,000Long-term investments49,00020,000Plant assets, net218,000 225,000Total assets$415,000$370,000???Net income after interest expense and taxes$ 62,250?Sales (all on credit)305,000?Cost of goods sold123,000?Interest expense15,600?Income tax expense27,000?
What will be an ideal response?
Which of the following is not a characteristic of a consumer market?
A. It consists of purchasers who intend to consume or benefit from the purchased products. B. They do not buy products for the main purpose of making a profit. C. They are sometimes referred to as B2C markets. D. Their purchasing decisions are always made by only one individual. E. They may buy the product, but not use it themselves.