The greatest time saver is the effective use of time.
Answer the following statement true (T) or false (F)
True
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Which of the following is likely the most effective audit procedure for the verification of the legal ownership of real property?
A. Examination of ownership documents registered and on file at a public hall of records. B. Examination of deeds and title guaranty policies on hand. C. Examination of corporate minutes and resolutions concerning the approval to acquire property, plant, and equipment. D. Examination of correspondence with the corporate counsel concerning acquisitions.
The demand for business goods is ultimately derived from the demand for raw materials
Indicate whether the statement is true or false
"The difference between actual hours worked and standard hours allowed for the good units produced, multiplied by the standard labor rate" is a description of the
a. direct labor rate variance. b. direct labor efficiency variance. c. total direct labor cost variance. d. direct labor quantity variance.
A depreciation method in which depreciation expense is a function of the actual usage of the asset is called ________ method
a. units–of–activity b. sinking–fund c. double–declining–balance d. straight–line