Which of the following is one of the primary reasons for the increase in Internet use?
A. Reorganization.
B. Connectivity technology.
C. Organizational restructuring.
D. All of the above.
B. Connectivity technology.
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Use the incomplete stockholders' equity section of Box Company's balance sheet as of December 31, 2016, to answer the following question. Common stock, $7 par, 100,000 shares authorized $ 700,000 Additional paid-in capital—common 160,000 Retained earnings ? Treasury stock (2,000 shares at cost) (16,000) Total stockholders' equity 974,000 How many shares of common stock are outstanding?
a. 100,000 b. 98,000 c. 78,000 d. 68,000
What role does each of the following departments play in the sales order processing subsystem: sales, credit, and shipping? Be complete
Top managers use social intelligence to define the future of the business, analyzing markets, industries and economies to determine the strategic direction the company must follow to remain unprofitable.
Answer the following statement true (T) or false (F)
One of the five techniques of earnings management identified by the Securities and Exchange Commission relates to materiality. Independent auditors have traditionally used arbitrary quantitative benchmarks to define how large an amount must be to be
considered material. During the course of auditing the financial statements of a company, an auditor finds some misstatements in the client's financial statements. When combined, the misstatements, result in a 4% overstatement of net income and a $.02 (4%) overstatement of earnings per share. The auditor's materiality threshold is 5%, that is, an item in the financial statements must be misstated by more than 5% to be considered a material deviation from generally accepted accounting principles. On the basis of the established materiality threshold, the auditor concludes that the deviation from GAAP is immaterial and the accounting is permissible. Define the term "materiality" and explain whether the auditor is justified in the conclusion that the accounting proposed by the client is permissible.