The primary purpose of a generalized computer audit program is to allow the auditor to
A. Use the entity's employees to perform routine audit checks of the electronic data processing records that otherwise would be done by the auditor's staff accountants.
B. Test the logic of computer programs used in the entity's electronic data processing systems.
C. Select larger samples from the entity's electronic data processing records than would otherwise be selected without the generalized program.
D. Independently process electronic data processing records.
D. Independently process electronic data processing records.
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Time Bender Company makes watches and clocks. The following estimated data are available for the company's next fiscal year:Total direct labor costs: $1,700,000Total setup costs: $190,000?WatchesClocksExpected production800,000100,000Direct labor hours needed68,000 DLH17,000 DLHMachine setups needed1,000 setups1,000 setupsDetermine the setup cost per unit for the watches and the clocks if setup costs are assigned using a plantwide overhead rate based on direct labor hours. (Round to two decimal places.)
What will be an ideal response?
The New York Stock Exchange and the American Stock Exchange are considered regional stock exchanges
Indicate whether this statement is true or false.
The "70/30" principle states that true active listeners spend almost 70 percent of their time
A. questioning and less than 30 percent of their time listening. B. listening and less than 30 percent of their time talking. C. hearing and less than 30 percent of their time listening. D. making assumptions about the messages and less than 30 percent of their time talking.
On October 1, a company lends $10,000 to an employee who signs a 9%, 6-month promissory note. The company is preparing its year-end financial statements on December 31. No adjusting entries have been recorded in connection with this note. What adjusting entry should be recorded before the financial statements are prepared?
A. Debit Interest Revenue and credit Interest Receivable for $450. B. Debit Interest Receivable and credit Interest Revenue for $225. C. Debit Interest Receivable and credit Interest Revenue for $450. D. Debit Interest Revenue and credit Interest Receivable for $225.