In which one of the following instances would an auditor most likely issue a disclaimer of opinion?
a. Management will not sign a management representation letter.
b. Management declines to provide a statement of cash flow.
c. The auditor is independent of the client.
d. The auditor is unable to confirm receivables but performs alternative procedures.
a
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Owners of Tri-States Industries, Ralph and Maureen, are sent a dividend check from the company. For this transaction, what is the effect on the accounting equation for Tri-States Industries?
a. Assets decrease and stockholders' equity decreases. b. Assets increase and stockholders' equity increases. c. Liabilities increase and stockholders' equity decreases. d. Liabilities increase and stockholders' equity decreases.
Which of the following is not a standard procedure that the auditor normally should follow in the observation of inventory at year-end?
a. Observe the client taking inventory. b. Make selected test counts and trace into client's inventory compilation. c. Look for slow-moving, obsolete or damaged inventory. d. Review disclosure of inventory valuation.
The purpose of the idea generation stage of new product development is to create a ________ number of ideas. The purpose of succeeding stages is to ________ that number
A) small number; reduce B) small number; increase C) large number; increase D) large number; reduce E) limited number; sustain
Upward communication is usually
A) more formal than downward communication. B) front-loaded with pathos. C) geared toward the secondary, higher-level audience. D) adapted to the writer's preference of style and diction. E) more authoritarian in tone than other messages.