Which of the following statements is TRUE? Interest rates
A) cannot exceed 60% per annum under the Criminal Code
B) can exceed 500% in some provinces for pay day loans
C) must be stated as an annual rate or the lender can only charge 5% per annum
D) must disclose all fees and administrative costs tied into the interest rate for consumer loans
E) all of the above
E
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If the size of the sample to be used in a particular test of controls has not been determined by utilizing statistical concepts, but the sample has been chosen in accordance with random selection procedures:
A. depending on the size of the sample chosen, the auditor may actually achieve desired precision. B. the auditor has committed a nonsampling error. C. no inferences can be drawn from the sample. D. the auditor will have to evaluate the results by reference to the principles of discovery sampling.
The bank's routing number ________.
A) contains 10 digits B) identifies the bank upon which the payment is drawn C) includes the account number of the business D) is not shown on the check
The cash flow from investing activities section appears exactly the same, whether the company uses the direct or the indirect method to prepare the statement of cash flows
Indicate whether the statement is true or false
Which of the following occurs during a sequential development process?
A) Activities in different development stages overlap with one another. B) Constant communication is required between participants at various stages in the development effort. C) Prototypes can begin before product characteristics are finalized. D) The development funnel process takes place.