Direct suggestions are commonly used by professional salespeople because they are:
A. empathetic.
B. conclusive.
C. inoffensive.
D. logical.
E. impersonal.
Answer: C
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As a result of analytical procedures conducted during the planning phase, the independent auditor determines that the gross profit percentage has declined from 30% in the preceding year to 20% in the current year. The auditor should:
A. Express an opinion that is qualified due to the inability of the company to continue as a going concern. B. Consider the possibility of an error in the financial statements. C. Evaluate management's performance in causing this decline. D. Require footnote disclosure.
Featuring exclusive national brands that are not available at competing retailers is a way of differentiating a retailer
Indicate whether the statement is true or false
An auditor who uses a transaction cycle approach to assessing control risk most likely would test control activities related to transactions involving the sale of goods to customers with the:
A. Sale of long-term debt. B. Collection of receivables. C. Purchase of merchandise inventory. D. Payment of accounts payable.
When reinforcement is based on output, it is ______.
a. interval b. intermittent c. quantitative d. ratio