When planning the audit, information is gathered by all of the following methods except
a. completing questionnaires
b. interviewing management
c. observing activities
d. confirming accounts receivable
D
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________ are independently owned businesses that take title to the merchandise they handle. They are full-service and limited-service jobbers, distributors, and mill supply houses
A) Brokers B) Agents C) Merchant wholesalers D) Specialized wholesalers E) Retailers' branches
Straight extension of the product means ________
A) introducing the product to the foreign market without any changes to the product B) introducing the product to the foreign market with minor changes to the product C) introducing the product to the foreign market with major changes to the product D) introducing a customized product to the foreign market with a new marketing strategy E) introducing a customized product to the foreign market with existing marketing strategy
During the close of the interview, what should a candidate do to ensure the interviewer has accurate and meaningful information?
A) Clarify any misconceptions the interviewer might have B) Ask the interviewer if they have additional questions C) Ask the interviewer how well they understood potentially difficult information D) Have a list of potential questions prepared about the organization E) Have potential questions prepared about the next step in the interview process
Which of the following most likely would be considered a discontinued operation?
a. Production or marketing functions are shifted from one location to another. b. A sporting goods manufacturer has a bicycle division that meets FASB's definition of a component of the entity and decides to outsource the manufacture of its bicycles. c. The unprofitable brands of a beauty products component of an entity that manufactures and sells consumer products are discontinued. d. An entity that is a franchiser in the quick-service restaurant business also operates company-owned restaurants that are unprofitable in a certain region and, as a result, the entity decides to exit both the quick-service business as well as the company-owned restaurants in that region. e. None of these answer choices is correct.