Owner's capital will be reduced by the amount in the drawing account
Indicate whether the statement is true or false
True
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Which of the following is false regarding a comprehensive approach to fighting fraud?
a. detecting fraud is the responsibility of the independent auditors b. evaluating controls is the function of the internal auditor c. corporate security officers see their role as investigative d. employees are in the best position to prevent and spot fraud
Which of the following items is consistent with earnings being informative about current performance and informing the analyst that level of current earnings are not sustainable?
a. The firm recognizes an unexpected gain b. The firm recognizes a fair value gain on a financial asset as a result of a favorable move in interest rates. c. The firm recognizes additional expenses this period due to pre-opening costs associated with new stores. d. The firm experiences a large jump in sales and earnings as a result of successful research and development of new products.
Outlining is one part of shaping a topic. What is a tentative outline?
Unlike a business proposal, a formal business report presents findings and recommendations based on research and data analysis
Indicate whether the statement is true or false