If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial statements prepared at that time would show:
A) Assets overstated and equity understated.
B) Assets and equity both understated.
C) Assets overstated, net income understated, and equity overstated.
D) Assets, net income, and equity understated.
E) Assets, net income, and equity overstated.
E) Assets, net income, and equity overstated.
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If the auditor assesses internal controls to be effective, less substantive testing is likely
a. True b. False Indicate whether the statement is true or false
Dillon dislikes the frequent criticism from his boss, but he also wants to profit from the experience As a result, Dillon digs into his human relations text and reviews the few paragraphs about cognitive restructuring. One day, David changes about six items on a Web site Dillon updated, including changing the search button from blue to purple. A good cognitive restructuring response for Dillon would be:
A) "I'll just wait and nail David later with criticisms of my own." B) "Maybe I'm not so talented. It could be that I'm in the wrong field." C) "David is quite experienced, so perhaps his suggestions provide me useful feedback." D) "When you're dealing with a retard, there's not much you can do."
The ratio of rise and run of the project crash line describes
A) cost slope. B) crash time. C) crash buffer. D) expected time.
A customer list is not a trade secret
a. True b. False Indicate whether the statement is true or false