Failure to assign ownership occurs in which of the following situations?
a. when someone makes significant contributions to a product design without a formal agreement of who owns the idea
b. only when someone makes a significant contribution and is not paid for the contribution
c. only when someone makes a significant contribution and is paid for the contribution
d. when someone fails to place the company name on the patent
a. when someone makes significant contributions to a product design without a formal agreement of who owns the idea
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Indicate whether the statement is true or false
Since almost all debts require payment with quick assets, the quick ratio is more useful than the cash flow from operations to current liabilities ratio
a. True b. False Indicate whether the statement is true or false
Which statement is not true?
a. An audit objective for systems maintenance is to detect unauthorized access to application databases. b. An audit objective for systems maintenance is to ensure that applications are free from errors. c. An audit objective for systems maintenance is to verify that user requests for maintenance reconcile to program version numbers. d. An audit objective for systems maintenance is to ensure that the production libraries are protected from unauthorized access.
The same four basic financial statements are prepared by both U.S. GAAP and IFRS.
Answer the following statement true (T) or false (F)