What is the difference between a positive and a negative confirmation? What are the advantages and disadvantages of each type?
What will be an ideal response?
A positive confirmation requests a response regardless of whether the customer agrees with the balance
being confirmed per the client’s books. A negative confirmation is only returned if the customer does
not agree with the balance being confirmed.
Positive confirmations inherently provide more reliable evidence, as a negative confirmation may not
be returned because the balance is correct or because the customer disregarded the letter. However,
negative confirmations require less work as the auditor is less likely to be required to follow-up with
second and third requests or by performing alternative procedures.
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Which statement best reflects how you should think about the employment resume?
a. There is one standard format that all potential employees should know and use. b. Your resume is your calling card that can be used to place you in particular positions. c. The resume should highlight strengths and downplay weaknesses. d. The resume should have a general, non-customized look and feel.
An adjusting entry made to record salaries earned but not yet paid or recorded is made with which of the following entries?
A) Salaries Expense - Debit; Cash - Credit B) Salaries Payable - Debit; Salaries Expense - Credit C) Salaries Expense - Debit; Salaries Payable - Credit D) Cash - Debit; Salaries Expense - Credit
Extraordinary repairs are recorded with a debit to Accumulated Depreciation
Indicate whether the statement is true or false
Preparing an agenda for an expert before an interview with a journalist helps to ________
A) specify what questions the expert should ask B) manage logistical details of the interview C) explore the format of the interview D) maintain the focus of the interview E) provide names of external experts