Cravens was asked to perform the first audit of a wholesale business that does not maintain perpetual inventory records. Cravens has observed the current inventory but has not observed the physical inventory at the previous year-end date and concludes that the opening inventory balance, which is not auditable, is a material factor in the determination of cost of goods sold for the current year. Cravens will probably
A. Decline the engagement.
B. Express an unqualified/unmodified opinion on the balance sheet and income statement except for inventory.
C. Issue a disclaimer of opinion.
D. Issue an adverse opinion.
C. Issue a disclaimer of opinion.
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Xavier and Yolanda have original investments of $50,000 and $100,000, respectively, in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%; salary
allowances of $38,000 and $28,000, respectively; and the remainder to be divided equally. How much of the net income of $77,000 is allocated to Yolanda? a. $77,000 b. $38,000 c. $36,000 d. $44,000
All assets held by a partnership, regardless of their original ownership, are co-owned by all partners
Indicate whether the statement is true or false
Which of the following types of brand equity metrics would most likely be based on information gathered through consumer surveys?
A) revenue premium metrics B) financial market metrics C) brand venture metrics D) equity-identity metrics E) customer mind-set metrics
Who plays the strongest role in perceived organizational support?
A. coworkers B. customers C. supervisors D. subordinates