The third category of question in the SPIN approach is called the ________ question.
A. intuition
B. indication
C. implication
D. issue
E. indirect
Answer: C
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FASB's concept of comprehensive income
a. excludes transactions that involve the payment of dividends. b. requires that all transactions must be shown on the income statement. c. has a primary drawback because it allows management to manipulate the income figure to a certain extent. d. allows items that are not necessarily under management's control, such as natural disasters, to be shown as an adjustment of retained earnings.
Mark owns a 24-hour convenience store. Lately he has noticed that the liquor inventory purchases have gone up by huge amounts, although sales proceeds from this category haven't increased. He suspects his two night-shift employees. Which is the best investigative method to uncover such a fraud?
a. Electronic investigation b. Conversion investigation c. Inquiry investigation d. Concealment investigation
Define risk assessment.
What will be an ideal response?
A bank wants to congratulate one of its customers for having repaid an entire loan amount with no defaults. Which of the following letters would best help the bank convey this message?
A. An adjustment letter B. A claim letter C. A public relations letter D. A collection letter