Jobs are ranked according to their processing times, and the job with the longest processing time will be processed first and completed in the ______.
a. shortest processing time
b. earliest due date
c. longest processing time
d. critical ratio (CR)
c. longest processing time
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You are engaged in the audit of Bordon Corporation, whose records have not previously been audited by your firm. The company has an independent transfer agent, as well as a registrar for its capital stock. The transfer agent maintains the record of
stockholders, while the registrar checks that there is no overissue of stock. Both the transfer agent and registrar are required to validate stock certificates. One of the seniors on the audit proposes that confirmations be obtained from both the transfer agent and registrar regarding the outstanding stock balance at the balance sheet date. If the confirmations agree with the books, then he proposes that no additional work is to be performed on the capital stock account. REQUIRED: Do you agree or disagree that this will be sufficient? If yes, give the justification for your position. If no, state specifically all additional steps you would take and why you would take them.
In terms of cost behavior, telephone expense and direct materials are classified as
a. variable and fixed, respectively. b. fixed and variable, respectively. c. mixed and fixed, respectively. d. mixed and variable, respectively.
The proportion of world trade in services accounted for by North America has evidenced ____ since 1980.
A. an increase of one-third B. more than a fivefold increase C. an overall decline D. an increase of 20 percent E. a tripling
Business schools have ______ the number of ethics-related courses to help students prepare to face ethical dilemmas during their careers.
A. doubled B. reduced C. quadrupled D. tripled