Which of the following is not a primary purpose of audit working papers?
A. To assist in preparation of the audit report.
B. To coordinate the examination.
C. To decrease the need for substantive procedures.
D. To provide evidence of the audit work performed.
Answer: C
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The doctrine of stare decisis provides that each court decision is independent and should stand on its own
Indicate whether the statement is true or false
Which of the following statements is CORRECT?
A. If a firm lowered its fixed costs while increasing its variable costs, holding total costs at the present level of sales constant, this would decrease its operating leverage. B. The debt ratio that maximizes EPS generally exceeds the debt ratio that maximizes share price. C. If a company were to issue debt and use the money to repurchase common stock, this action would have no impact on its return on invested capital. (Assume that the repurchase has no impact on the company's operating income.) D. If changes in the bankruptcy code made bankruptcy less costly to corporations, this would likely reduce the average corporation's debt ratio. E. Increasing financial leverage is one way to increase a firm's return on invested capital.
Which of the following statements about goods and services is FALSE?
a. Service encounters are interactions between customers and service providers. b. Services can be stored as physical inventory for future sale. c. Goods are tangible, while services are intangible. d. The demand for service is more difficult to predict than the demand for goods.
Wanda, who has 12 years seniority with her company, works for a micro-manager. Wanda is certified as a professional of human resources but the boss won't let her make any personnel decisions on her own. Wanda is likely to feel what kind of stress?
A) Interpersonal demands B) Physical demands C) Role demands D) Task demands E) Time demands