Evidence is reliable if it:
A. relates to the audit assertion being tested.
B. is sufficient to justify a conclusion.
C. applies to the period being audited.
D. signals the true state of a management assertion.
Answer: D
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People belong to different groups (e.g., a student can also be a coworker, a friend, and a member of a church), and these categorizations comprise their ______.
A. social identity B. implicit norms C. team mental models D. explicit norms
The specific identification method:
a. prices inventory by identifying the cost of each item in ending inventory. b. uses the average cost of the goods available for sale during the period. c. is based on the assumption that the costs of the first items acquired should be assigned to the first items sold. d. is based on the assumption that the costs of the last items acquired should be assigned to the first items sold.
Achieving total quality requires ______.
a. the commitment of the organization’s management and employees b. the involvement of the United Nations c. the involvement of the ISO d. the involvement of the U.S. Senate
Ricardo has agreed to sell his family farm to Walter for a price of $450,000 . Even though both sides agree on the terms, it is still worth the money for Ricardo to hire a lawyer to write the contract
a. True b. False Indicate whether the statement is true or false