Violations of GAAP resulting in qualified opinions affect the standard audit report through which of the following?
a. Modifying the scope paragraph.
b. Adding an explanatory paragraph before the opinion paragraph.
c. Modifying the opinion paragraph to read "except for.".
d. Both B and C.
e. All of the above.
d
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Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000,
$60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 2 during the period for direct materials is: A) Work in Process--Department 2 100,000Materials 100,000 B) Work in Process--Department 2 50,000Materials 50,000 C) Work in Process--Department 2 150,000Materials 150,000 D) Materials 50,000Work in Process--Department 2 50,000
Control charts offer a simple method of displaying performance on hard measures over time against specific quality standards
Indicate whether the statement is true or false
James is a prospective car buyer. In his context, which of the following statements would reflect a determining dimension?
A. He must have enough money, or credit, to buy a car and insure it. B. He has kids who have to be carpooled. C. He needs to have a valid driver's license. D. He needs a safe car. E. His office is 2.5 miles from home.
Julia Pitt runs a boutique that specializes in luggage and travel items. Julia contacts Tumi Luggage about carrying its line of messenger satchels. The Tumi representative tells Julia that Tumi would be happy to sell her 100 Tumi Black Messenger bags for $318 each. Julia is happy with the price and asks Tumi to send the bags. The Tumi representative then faxes a confirmation of the shipment of
the 100 bags at $318 each. Julia receives the fax. When the bags arrive, Julia contacts Tumi and says there is a business downturn and that she does not want the bags and that there was no contract anyway. A) Julia is correct; the contract requires some type of authentication from Julia to be enforceable. B) Julia is correct; the contract required more than a fax to have a sufficient record. C) Julia is incorrect; she and Tumi have a valid and enforceable contract. D) Both a and b