Tom's dog has bitten three mail carriers, but Tom can't bear to chain him up. When the dog bites the newsboy, Tom will be strictly liable
a. True
b. False
Indicate whether the statement is true or false
True
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Barley Company is a medium-sized industrial firm that has been audited by your firm for several years. The only interest-bearing debt owed by Barley is a $300,000 long-term notes payable held by First National Bank. The notes were issued 4 years earlier
and will mature in 8 more years. Barley is highly profitable, has no pressing needs for additional financing and has excellent internal controls of the recording of loan and related interest cost transactions. REQUIRED: 1 . Based on this scenario, describe the auditing procedures that you think will be necessary for notes payable and related interest accounts. 2 . How will you answer differ if instead Barley Company was unprofitable, needed additional financing and had ineffective internal controls?
In conjunction with a cost management system, gap analysis refers to comparing
a. the information being received by competitors' managers to the information being received by in-house managers. b. the information needed to what is available. c. current cost information to projected cost information. d. budget figures to actual spending.
If no safety stock is carried, the average inventory is equal to the
a. order point/2. b. order point ? 2. c. economic order quantity/2. d. economic order quantity ? 2.
If a nurse administers CPR to save the life of a dying man and negligently injures the man's arm in the process, the nurse cannot be sued as he or she is protected by Good Samaritan statutes.
Answer the following statement true (T) or false (F)