In a manufacturing company which one of the following audit procedures would give the least assurance of the existence of the assets in the general ledger balance of investment in stocks and bonds at the audit date?
A. Examination of paid checks issued in payment of securities purchased.
B. Confirmation from the broker.
C. Inspection of year-end brokers' statements.
D. Vouching all changes during the year to brokers' advises and statements.
Answer: A
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Which is the best definition of scienter?
a. Fraudulent conduct in the purchase of a security. b. A causal connection between a misstatement and a material loss. c. A material omission of facts. d. A wrongful state of mind when making a misrepresentation.
The Farm Union represents farm workers, some of whom are employed by Vino Wineries. The
union is on strike against Vino and it is picketing all liquor stores that sell Vino products. The picketers are asking that no one buy anything from any liquor store that carries Vino products. There has been no violence. This picketing is: A) An illegal common situs picket. B) An illegal hot cargo agreement. C) A legal common situs picket. D) A legal secondary boycott. E) An illegal secondary boycott.
Which of the following is not one of the basic business objectives for an e-commerce site?
A) display goods B) execute a transaction C) provide production and supplier links D) optimize system architecture
The _________ module analyzes LAN traffic and reports the results to the central manager
A. LAN monitor agent B. host agent C. central manager agent D. architecture agent