For the bus line problem above, what is the minimum possible distance to travel from City 1 to City 6?
A) 26
B) 20
C) 18
D) 22
E) None of the above
C
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Which of the following journal entries would probably be made if the modified cash basis of accounting for warranties is in use for a sale made in 2016?
A) ?2016Warranty Expense XXEstimated Liability under Warranties XX B) ?2017Estimated Liability under Warranties XXCash XX C) ?2016Cash XXSales XXUnearned Warranty Revenue XX D) ?2017Warranty Expense XXCash XX
The auditor is responsible for evaluating the likelihood of a client not being a going concern for the next 12 months. What basis will the auditor use to assess this issue?
a. Management integrity. b. Control environment. c. Absolute assurance. d. Substantial doubt.
The activity of buyers and sellers trading things of value so that each is better off as a result is referred to as
A. merchandising. B. personal selling. C. a marketing interchange. D. bartering. E. an exchange.
Why is the agent able to be held liable on a contract when the existence of the agency
arrangement was not disclosed? A) Because the third party could rely on the reputation of only the agent when entering into the contract B) So that the outcome in a contract situation is the same as that for a tort C) To discourage the use of undisclosed agency arrangements D) To ensure that the principal fulfills its obligations under contracts negotiated by authorized agents E) To offset the fraud frequently present is this situation