Which of the following is not a critical piece of information for the bargaining or negotiation process?
A. The BATNA or MLATNA
B. Benchmarking information
C. Knowledge of the opponent's interests
D. Rules of evidentiary procedure
D. Rules of evidentiary procedure
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Which one of the following statements is false concerning the retail inventory method?
A) In arriving at a cost-to-retail ratio, sales discounts are deducted from goods available for sale to determine ending inventory at retail. B) Employee discounts are subtracted from goods available for sale to compute ending inventory at retail. C) Abnormal inventory spoilage would be subtracted at both cost and retail in the determination of goods available for sale. D) Purchase returns and allowances must be subtracted from both the cost and retail value of the purchases.
During an engagement to review the financial statements of a nonpublic entity, an accountant becomes aware of a material departure from GAAP. If the accountant decides to modify the standard review report because management will not revise the financial statements, the accountant should:
A. disclose the departure from GAAP in a separate paragraph of the report. B. issue an adverse or an "except for" qualified opinion, depending on materiality. C. express negative assurance on the accounting principles that do not conform with GAAP. D. express positive assurance on the accounting principles that conform with GAAP.
Distinguish between inherent risk and control risk. How do internal controls and detection risk fit in?
Why is it important for a salesperson to recognize and adjust his/her presentation when a buyer is showing caution signals?
What will be an ideal response?