Market is the amount that a merchandising company would pay at the present time for the same goods that are in the inventory and from the usual suppliers in the usual quantities
Indicate whether the statement is true or false
True
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Which of the following situations could lead to a service breakdown?
A. A manager prepares a report ready for distribution, on time. B. Room service food was delivered at the appropriate time and temperature. C. A hotel room is not ready past the stated check-in time. D. The delivery of needed parts, ordered by a manufacturer, arrives on time.
Research suggests that employees in the lower tier of the pay structure in a two-tier wage system are less satisfied than the top-tier employees.
Answer the following statement true (T) or false (F)
When outside firms of non-accountants specializing in physical inventory counts are used to count, list, price, and subsequently compute the total dollar amount of inventory on hand at the date of the physical count, the auditor will ordinarily:
A. increase the extent of work on the physical count of inventory. B. consider the report of the outside inventory firm to be an acceptable alternative procedure to the observation of physical inventories. C. make or observe some physical counts of the inventory, recompute certain inventory calculations, and test certain inventory transactions. D. consider the reduced audit effort with respect to the physical count of inventory as a scope limitation.
Information that can be gleaned from stored data is _____.
A. knowledge B. experience C. intelligence D. wisdom