The result of closing entries is that balances in all temporary accounts
a. are adjusted to historical cost.
b. include monthly depreciation.
c. are adjusted to current market values.
d. are adjusted to budgeted amounts.
e. None of these answer choices are correct.
E
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All of the following are inherent risk factors that are pervasive to the financial statements except:
A. supplies inventory is difficult to count. B. classes of transactions are not processed systematically. C. highly complex significant transactions. D. non-routine transactions.
Inadequate disclosure occurs when:
a. a company attempts to overstate assets to make their financial position look better. b. management makes statements that are wrong in its annual report or any other media. c. assets are not written down to their appropriate values because insufficient depreciation is recorded. d. a company understates its liabilities and overstates its revenues and net income.
A kiosk that sells sunglasses at a local mall is an example of a(n)
Fill in the blank(s) with the appropriate word(s).
In a traditional one-on-one interview, ________
A) one goal of the interview is to establish that the applicant has a natural fit with the organization and the interviewer B) a search committee discusses the position with the job applicant C) the interviewer is always the same recruiter who met the applicant at a career fair or an on-campus interview D) employers are able to assess the applicant's collaborative skills E) the applicant is assessed under work-related conditions