The auditor is least likely to learn of retirement of equipment through which of the following?
A. Reviewing the purchase return and allowance account.
B. Reviewing depreciation.
C. Analyzing debits to the accumulated depreciation account.
D. Reviewing insurance policy riders.
A. Reviewing the purchase return and allowance account.
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Revenue and expense balances are transferred from the adjusted trial balance to the income statement.
Answer the following statement true (T) or false (F)
Montana Company reported the following operating results for Year 1 and Year 2:
Required:Express each income statement component for each year as a percentage of sales. Round your answer to one decimal place (i.e. 22.5%)
What will be an ideal response?
Denzil was one of 50,000 people defrauded of $40 in an advertising scam. His best course of action to recover his money is to A)mediate the claim with the advertiser
B)bring an individual lawsuit against the advertiser in a state appellate court. C)bring an individual lawsuit in a U.S. District Court. D)become part of a class action lawsuit, which might include plaintiffs who are unaware of the lawsuit or are even unaware they were harmed.
New York's insurance law makes it illegal to make false statements or rumors about insurance companies
Indicate whether the statement is true or false