In testing plant and equipment balances, an auditor may physically inspect new additions listed on the summary of plant and equipment transactions for the year. This procedure is designed to obtain evidence concerning management's assertions about classes of transactions and events, and specifically, which assertion?
A. Authorization.
B. Occurrence.
C. Classification.
D. Cutoff.
Answer: B
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The stock release document is prepared by the shipping department to provide evidence that the goods have been released to the customer
Indicate whether the statement is true or false
A firm's bank reconciliation statement shows a book balance of $36,410, an NSF check of $1,150, and a service charge of $60. Its adjusted book balance is
A. $35,200. B. $36,410. C. $37,500. D. $35,320.
In Erie Railroad Co v. Tompkins, where Tompkins sued a New York company that owned a train that hit him in Pennsylvania:
a. the U.S. Supreme Court said that federal common law must be applied in federal court b. the U.S. Supreme Court said that since this was a matter of common law involving two states, it was a matter for the state courts, not federal district court c. the Supreme Court of Pennsylvania said this was a matter of New York common law that must be tried in federal court d. the Supreme Court of New York said this was a matter of Pennsylvania common law that must be tried in that state e. none of the other choices are correct
Which of the following is not included in the BVI equation?
a. Employee hourly wage of the blogger. b. Average advertising yield. c. Average opportunity cost of the blogger. d. Average daily hits. e. Average numbers of hours spent per day blogging.