The risk of material misstatement due to fraud relating to revenue recognition should be
a. approached in a manner that is identical to control risk assessment.
b. given lower priority to the risk of embezzlement.
c. ordinarily presumed by the auditor.
d. assumed to have been considered by the FASB.
c
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Savings-and-loan associations suffered losses in the late 1970s when
A. the farm sector of the economy became unprofitable, forcing many farmers into bankruptcy, leading to many bad farm loans. B. inflation rose, causing short-term interest rates to rise. C. oil prices rose sharply, causing S&Ls to lose money invested in the oil sector. D. short-term interest rates fell, causing S&Ls to suffer capital losses on their portfolios of short-term securities.
Dividends Payable is an example of a(n)
a. contingent liability. b. definitely determinable liability. c. estimated liability. d. long-term liability.
Videoconferencing is advantageous because ______.
A. you can see who you are talking to B. you can avoid face to face confrontations C. you can discern emotions D. you can just talk to the people you want
What benefits do businesses expect o gain from cross-sector and cause-related marketing?
What will be an ideal response?