Lack of communication among key personnel would be an example of what type of project risk?
a. External
b. Operational
c. Cost
d. Schedule
b. Operational
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When auditing expense accounts, which of the following would the auditor be least likely to subject to a detailed test of transactions?
a. Legal expense. b. Utilities expense. c. Repairs and maintenance expense. d. Travel expense.
To be enforceable, most states require that a lease must be in writing if it is for a term of more than ________.
A. three months from the date it is made B. six months from the date it is made C. one year from the date it is made D. one month from the date it is made
In practice, why is it often difficult to apply the retail method in determining the cost of ending inventory?
Because a business should have as its primary objective the earning of a minimum rate of return on assets, the return on assets pricing method has a great deal of appeal and support
Indicate whether the statement is true or false