An entity's internal control requires for every check request that there be an approved voucher, supported by a prenumbered purchase order, and a prenumbered receiving report. To determine whether checks are being issued for unauthorized expenditures, an
auditor most likely would select for testing from the population of:
A. Purchase orders.
B. Canceled checks.
C. Receiving reports.
D. Approved vouchers.
B. Canceled checks.
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On January 1, 2017, Macie Company purchased Jefferson Company's 9% bonds with a face amount of $200,000 for $213,420 to yield 8%. The bonds mature on January 1, 2027, and Macie has both the intent and ability to hold these bonds to maturity. The bonds pay interest annually on December 31. Assuming Macie uses the effective interest method of amortizing the bond premium; interest income reported on
the income statement for the year ended December 31, 2017, would be A) $16,000. B) $17,074. C) $18,000. D) $18,926.
In which of the following ways do the ethical theories compare or contrast with Lawrence Kohlberg’s six stages of moral reasoning?
a. Egoism does not correspond well to any of Kohlberg’s stages. b. Virtue ethics, the highest level ethical theory, matches Stage 6, Kohlberg’s highest. c. Utilitarianism can be seen in every Kohlberg stage. d. Cultural relativism is seen most strongly in Stage 1 because of all the cultural influences on early child development.
A material breach of contract discharges the contract
Indicate whether the statement is true or false
Why did you use the lcd command?
What will be an ideal response?