The table of contents should always include all levels of headings for the report
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: Depending on the length and complexity of the report, you may need to decide how many levels of headings to show in the TOC. Choosing how to present the TOC will involve a trade-off between simplicity and completeness.
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What is the difference between stock options and an employee stock ownership plan (ESOP)?
A. Stock options are usually granted to company executives, whereas ESOPs are provided to all employees. B. Earnings from stock options are exempt from income taxes, whereas earnings from ESOPs are taxable. C. Under stock options, employees can sell their stocks, whereas ESOPs do not allow employees to sell their stocks. D. In stock options, stocks are placed into a trust, whereas ESOPs give employees the right to buy a certain number of shares of stock. E. Stock options carry significant risk, whereas ESOPs are risk-free.
Confirmations of receivables You are the auditor of Maple Bank for the year 2010 . Maple has a large number of customers with consumer loan accounts. The loan accounts have balances averaging $800 in a homogeneous population and the customers usually
pay close attention to their balances. Your preliminary assessment of internal control over the loan area is that control risk is low and results of tests of controls support that assessment. Inherent risk is deemed to be lower as well. Discuss the confirmation process and the types of confirmations that may be used for the audit of Maple Bank. Which confirmation type would you select for Maple and why?
What kind of sentence reveals the main idea of a paragraph?
A) Pivoting B) Supporting C) Topic D) Transitional
Worthington Inc. is considering a project that has the following cash flow data. What is the project's payback? Year0 1 2 3 Cash flows?$500 $150 $200 $300
A. 2.03 years B. 2.25 years C. 2.50 years D. 2.75 years E. 3.03 years