Which one of the following would be the least reliable type of evidence?
a. Confirmations returned by bank directly to the auditor.
b. Letters of communication from the Securities Exchange Commission.
c. Physical examination of perpetual inventory.
d. Evidence from an easily overridden information system.
d
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The opposite of perception congruence is ______.
a. perception divergence b. perception disagreement c. perception deviation d. perception dissonance
Identify the account below that is classified as a liability in a company's chart of accounts:
A. Salaries Expense B. Supplies C. Unearned Revenue D. Accounts Receivable E. Cash
The document created through the Vivid Vision exercise should be no more than _____ page(s) long.
a. 1 b. 2 c. 3 d. 4
Noe Drilling Inc. is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. The CEO believes the IRR is the best selection criterion, while the CFO advocates the MIRR. If the decision is made by choosing the project with the higher IRR rather than the one with the higher MIRR, how much, if any, value will be forgone, i.e., what's the NPV of the chosen project versus the maximum possible NPV? Note that (1) "true value" is measured by NPV, and (2) under some conditions the choice of IRR vs. MIRR will have no effect on the value lost. WACC:9.00% 0 1 2 3 4 CFS-$1,100 $550 $600 $100 $100 CFL-$2,750 $725 $725 $800 $1,400
A. $73.38 B. $79.56 C. $0.00 D. $96.55 E. $78.01