Which of the following is a common problem with employee handbooks:
a. making promises about discipline procedures that are not followed consistently
b. failing to change the handbook to comply with state and federal laws as they change c. creating probationary periods that imply permanent status once probation has ended d. all of the other specific choices are correct
e. none of the other specific choices are correct
d
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In a process cost system, costs attach to products and are passed from one process to another
a. True b. False Indicate whether the statement is true or false
Langley Company received merchandise on December 31, 2016. Langley failed to record the purchase on account because the invoice was inadvertently destroyed. The merchandise was, however, included in ending inventory. What would be the effect of this event on the financial statements as of December 31, 2016?
A) assets and liabilities would be understated B) assets and owners' equity would be overstated C) liabilities would be understated and retained earnings overstated D) liabilities would be overstated and retained earnings understated
Logistic refers to physical distribution of goods from one location to another
Indicate whether the statement is true or false
As detection risk increases, the amount of evidence an auditor needs to obtain decreases
a. True b. False Indicate whether the statement is true or false