In times of high inflation, businesses seeking to increase their profit margins can do so only by increasing their efficiency.
Answer the following statement true (T) or false (F)
False
In times of low inflation, businesses seeking to increase their profit margins can do so only by increasing their efficiency. If they significantly increase prices, no one will purchase their goods or services. See 4-5: Economic Factors.
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For each of the following specific audit procedures, indicate the type of audit evidence it is gathering: (1) inspection of records or documents, (2) inspection of tangible assets, (3) observation, (4) inquiry, (5) confirmation, (6) recalculation, (7) reperformance, (8) analytical procedures, and (9) scanning. The audit evidences can be used more than once.a. Discussing the recording of sales discounts in the fourth quarter with the accounts receivable manager.b. Examining sales invoices for supporting customer order and shipping documents.c. Reviewing the accounts payable subsidiary ledger for debit balances or interest bearing payables.d. Sending a written request to the entity's bank requesting the cash balances in the entity's accounts and any other liability balances that the entity
owes the bank.e. Comparing the current-year accounts receivable turnover with the accounts receivable turnover for the industry.f. Examining a new piece of equipment to ensure that a major acquisition was received and is operational.g. Watching the entity's accounting personnel while they prelist cash receipts.h. Footing the entity's bank reconciliation and tracing the balance per the books to the general ledger.i. Recomputing sales price and extensions on sales invoices.j. For a sample of sales transactions recorded in the sales journal, tracing the sales invoices back to customer orders and shipping documents. What will be an ideal response?
When a procedure is compiled, it stores the ____ of any referenced objects.
A. datestamp B. signature C. timestamp D. recordstamp
Answer the following statement(s) true (T) or false (F)
1. The OD consulting model implies more of a shared role among all involved. 2. One negative aspect of OD being an internal function within an organization is that it gets buried within HR. 3. Internal OD consultants work independently. 4. One major disadvantage of external consulting is that organizational members may be reluctant to share sensitive information for fear that it may leak internally to colleagues. 5.During the diagnosis and feedback stage of consulting, the data is analyzed and interpreted.
To solve for the rate, use the following formula: ? Rate = Principal x Interest x Time?
Indicate whether the statement is true or false