An auditor is testing internal control procedures that are evidenced on an entity's vouchers. To select the vouchers for testing, the auditor obtains random numbers between the first and last voucher number in the period. If a random number matches the number of a voided voucher, that voucher ordinarily should be replaced by another voucher in the random sample if the voucher
A. Constitutes a deviation.
B. Has been properly voided.
C. Cannot be located.
D. Represents an immaterial dollar amount.
B. Has been properly voided.
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In the United States, business pursuits
a. are generally intermingled with personal and social activities. b. must be kept separate from personal and social activities. c. are largely kept separate from personal and social activities. d. can be intermingles with virtual social activities.
Which of the following is an example of direct materials cost for an automobile manufacturer?
A) Cost of oil lubricants for factory machinery B) Cost of wages of assembly worker C) Salary of production supervisor D) Cost of interior upholstery
Ramirez Company returns merchandise previously purchased on account. It had not yet been paid for. Ramirez uses the perpetual inventory system. Which of the following reflects the effects on the financial statements of only the purchase return? Asset=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash FlowsA.+=NA+---NA=-+OAB.-=-+NANA-+=-NAC.+-=NA+NANA-NA=NA+OAD.-=-+NANA-NA=NANA
A. Option A B. Option B C. Option C D. Option D
Hospital insurance is generally part of every insurance plan. It covers the costs associated with a hospital stay including
A) room charges. B) nursing costs. C) drugs supplied by the hospital. D) All of the above are correct. E) Only A and B are correct.