Which of the following is likely the most effective audit procedure for the verification of the legal ownership of real property?
A. Examination of correspondence with the corporate counsel concerning acquisitions.
B. Examination of ownership documents registered and on file at a public hall of records.
C. Examination of corporate minutes and resolutions concerning the approval to acquire property, plant, and equipment.
D. Examination of deeds and title guaranty policies on hand.
D. Examination of deeds and title guaranty policies on hand.
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During October, kiosk or "pop-up" stores often appear in many malls for the holiday season. Typically, these kiosks sell gift boxes of cheese, jewelry, and other items people think are appropriate seasonal gifts. In January, these "pop-up" retailers vanish. Is it possible for such a retailer to use relationship marketing? Explain your answer.
What will be an ideal response?
Which of the following are required to swear that financial reports are accurate and complete?
A) Accountants B) Managers C) Chief executives D) Board of directors
You have recently been promoted to the position of manager at your business. While you have been doing nonmanagement tasks, you will now be called on to fulfill three new managerial functions focused on helping your employees do their work. What are they and how will you accomplish them?
What will be an ideal response?
Sparkling Pools received a bill for $1,200 for running newspaper ads during the last two weeks of July; the bill will be paid on August 1. Advertising Expense should be:
A. credited for $1,200 in July. B. debited for $1,200 in July. C. credited for $1,200 in August. D. debited for $1,200 in August.