Haute Dogs, Inc, sells a franchise to Ilene's Cuisine, a lunch truck. Ilene's Cuisine is
a. a franchisee.
b. a franchisor.
c. an agent.
d. a principal.
A
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The data below is for Benton Corporation for 2015. Accounts Receivable—January 1, 2015 $334,000 Credit sales during 2015 850,000 Collections from credit customers during 2015 725,000 Customer accounts written off as uncollectible during 2015 Allowance for Doubtful Accounts [Credit Balance] (After write-off of uncollectible accounts) 12,000 1,700 Estimated uncollectible accounts based on an
aging analysis 13,200 Refer to the data for Benton Corporation. If the aging approach is used to estimate bad debts, what should the balance in the Allowance for Doubtful Accounts be after the bad debts adjustment? a. $26,900 b. $14,900 c. $13,200 d. $11,500
Directional testing is important to an auditor because of which of the following factors?
a. Certain accounts are more prone to be misstated by overstatement than others. b. The auditor must remain organized when conducting an audit. c. The primary concern of the auditor is the understatement of asset and revenue accounts. d. It tests for existence and completeness simultaneously.
Which element below is not one of the five organizational strategies discussed in the textbook?
a. Defender b. First mover c. Prospector d. Examiner
It is recommended that a diagnosis of poor employee performance focus on all of the following EXCEPT
A. skill. B. personality. C. effort. D. external conditions.