An individual who supports a new technology and protects the product champion is referred to as a(n)
A. executive champion.
B. executive liaison.
C. personnel champion.
D. technology officer.
E. technical innovator.
Answer: A
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An auditor typically sets inherent risk for intangible assets at this level:
A. moderate. B. high. C. zero. D. low.
Direct cause-and-effect relationships between revenues and expenses can be identified easily
Indicate whether the statement is true or false
If insured goods are shipped FOB destination, the seller should file a claim for goods damaged in transit
Indicate whether the statement is true or false
On December 31, 2016, the Town Hall Company had a deferred tax liability balance of $12,570, arising from an excess of MACRS depreciation for tax purposes over straight-line depreciation for accounting purposes. The tax effects of that timing difference are expected to reverse in the following years: ? Timing Enacted Deferred Year Difference Tax Rate Tax Liability 2017 $ 16,000 30% $ 4,800 2018 9,500 35% 3,325 2019 12,700 35% 4,445 ? ? ? $12,570 On January 27, 2017, Congress raised the effective income tax rate to 38% for all future years, including the current year, 2017. ? Required:Prepare the entry to record any adjustments necessary due to the income tax rate increase on January 27, 2017.
What will be an ideal response?