Which of the following audit procedures does not address existence/occurrence for accounts receivables and sales?
a. Trace bill of lading to sales invoice and sales journal.
b. Confirm balances of unpaid invoices with customers.
c. Examine subsequent collection.
d. Scan sales journal for duplicate entries.
a
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If there is a significant drop in business optimism in an economy
A. the economy's long-run aggregate supply curve shifts to the right. B. the economy's aggregate demand curve shifts to the left. C. the labor supply in the economy increases in the long run. D. the capital stock in the economy increases in the long run.
To a business, cash includes currency, coins, checks, and money orders
Indicate whether the statement is true or false
John, an employee of Smith Electric, Inc., has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. John has a deduction of $320 for health insurance and $80 for United Way. Provide the journal entry to record salaries expense and payroll withholdings. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Salaries will be paid at a later date. Omit explanation.
What will be an ideal response?
When conducting selection interviews, Conor does not prepare questions. He prefers to greet each job candidate and allow the interview to develop organically. He says he likes to have more of a “conversation” than an interview with each candidate. His questions to each candidate are different. Conor uses a(n) _________ interview.
A. open-ended B. unstructured C. semistructured D. probing E. traditional