All of the following items would appear on the balance sheet except
A) an investment in another company's bonds
B) an investment in marketable securities
C) a realized gain on the sale of a equipment
D) the premium related to a bond liability that is still two years from maturity
C
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Assume that an auditor notes a large series of checks that does not clear the bank for an unusually long time after period end. Which of the following would the auditor likely suspect from this observation?
a. Vendors are eager to get their payments. b. The reconciliation is accurate. c. Cash does not exist. d. The presence of held-checks at period-end.
The bank statement reveals an EFT received from a customer that has not yet been recorded in the journal. How would this information be included on the bank reconciliation?
A) an addition on the bank side B) a deduction on the bank side C) a deduction on the book side D) an addition on the book side
Empowering employees to make decisions implies giving up control.
Answer the following statement true (T) or false (F)
No oral contract is enforceable under the UCC.
Answer the following statement true (T) or false (F)