With the popularity of outsourcing and global logistics, the manufacturing environment has seen several changes. Among the following choices, select the changes that align with this current manufacturing environment. (1). Shorter product life cycles (2). MRPII is being viewed as the system of the future (3). An increase in fabrication value added (4). Popularity of customer driven supply chains
a. (1) c. (1), (3) and (4)
b. (1) and (4) d. All of the above
B
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The acceptable level of detection risk is inversely related to the:
A. risk of failing to discover material misstatements. B. risk of misapplying auditing procedures. C. overall materiality. D. extent of the substantive procedures.
When evaluating profitability of a segment, costs that would disappear if the company eliminated the segment are called:
a. Direct costs. b. Common costs. c. Indirect costs. d. Fixed costs.
You are planning to write a memo to the manager of the accounting department. You want to convince her to outsource more of her team's work and downsize the existing team.
a. What question can you ask yourself to help you adapt your memo to your audience? b. How can I make my audience feel sorry for me? c. What's in it for my audience? d. How can I intimidate my audience?
Which of the following is true with regard to contractual relations between the principal and a third party?
A) There is no liability on the part of the principal if the agent acts with implied authority. B) An undisclosed principal and the third party are contractually bound if the agent acts within her actual authority, unless the contract specifies otherwise. C) Under the Second Restatement, no principal is bound if the agent acts without any authority. D) A partially disclosed principal is bound only if the agent acts within the scope of actual authority.