Miriam is known as a person who is talkative. In the context of the Big Five taxonomy, the extraversion personality dimension best describes Miriam.
Answer the following statement true (T) or false (F)
True
Extraverts are talkative, sociable, passionate, assertive, bold, and dominant.
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Which of the following statements explains a panel dropout?
A) Panel members may not remain on the panel. B) Being on a panel may change a member's behavior. C) Panel members may not be representative of the underlying population. D) Attitudes and preferences of the panel members may change over the time.
Inherent risk
a. exists because all control structures are flawed in some ways. b. is the likelihood that material misstatements exist in the financial statements of the firm. c. is associated with the unique characteristics of the business or industry of the client. d. is the likelihood that the auditor will not find material misstatements.
Which of the following is an argument supporting the “current operating” income recognition school of thought?
a. Most financial statement users look only to bottom-line net income to assess current performance and to make predictions regarding subsequent years’ performance. b. Under this approach, management makes the decision on whether or not an item is extraordinary and therefore excluded from the income statement. c. The summation of all income displayed on the income statement for a period of years should reflect the reporting entity’s net income for that period. d. Proper classification within the income statement allows both normal recurring items and unusual, infrequently occurring items to be displayed separately within the same statement.
Which of the following is a business that would primarily be involved in the production of goods?
a. Furniture manufacturer b. Package delivery company c. Bank d. Technical support call center