Paralegals who are assisting in providing services to a sole proprietorship should not
A. advise the sole proprietor with regard to the income tax consequences of doing business as a sole proprietor.
B. assist with the preparation of state and federal forms to comply with state and federal taxation requirements.
C. draft and file an application for a certificate of assumed name when that document is required.
D. draft and file an application for employer identification number when that document is required.
A. advise the sole proprietor with regard to the income tax consequences of doing business as a sole proprietor.
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Which of the following situations would most likely require special audit planning?
A. Inventory is comprised of precious stones. B. Assets costing less than $500 are expensed even though the expected life exceeds one year. C. Depreciation methods used on the client's tax return differ from those used on the books. D. Some items of factory and office equipment do not bear identification numbers.
Comparing performance to standards is what step in the control systems process?
a. step 1 b. step 2 c. step 3 d. step 4
Which of the following measures the difference between the budgeted fixed overhead and the fixed overhead applied to work in process?
a. Controllable variance b. Yield variance c. Price variance d. Volume variance
Laverne's Soda Shop wishes to decrease variable costs. Which of the following options should she consider?
A) Decrease in advertising costs B) Decrease in rent C) Decrease in direct labor costs D) Increase in equipment rentals