Which of the following is a defined-contribution plan intended for firms with 100 or fewer employees?
A) 401(k) plan
B) SEP plan
C) SIMPLE plan
D) 403(b) plan
Answer: C
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Final Analytical Procedures and Disclosures When auditing Global Alliance Industries, Inc, the auditor performed extensive analytical procedures and found the following: (a) The commission expenses as a percentage of sales has stayed constant for
several years, but has increased significantly in the current year. However, commission rates have not changed. (b) The rate of inventory turnover has steadily decreased for the past four years. (c) The inventory as a percentage of current assets has steadily increased for the past four years. (d) The number of days' sales in accounts receivable has steadily increased for three years. (e) The allowance for uncollectible accounts as a percentage of accounts receivable has steadily decreased for three years. (f) The absolute amounts of depreciation expense and depreciation expense as a percentage of gross fixed assets are significantly smaller than in the preceding year. REQUIRED: (1) Evaluate the significance of not disclosing or adjusting these items, if material, in the fair presentation of financial statements. (2) When assessing disclosures, what criteria do auditors use?
The strongest objections to manipulation come from:
A. virtue-based ethics. B. consequential ethics. C. principle-based ethics. D. pragmatic ethics.
In October 1982, the United Nations General Assembly adopted the ________. It states that all states have a duty to respect the essential processes of environment and not to impair them
A. Vienna Convention for the Protection of the Ozone Layer B. World Charter for Nature C. Kyoto Protocol D. Chicago Convention on International Civil Aviation
While aptitude is important, Ken, a hiring manager, is equally interested in candidates' agreeableness, extroversion, and openness to experience. He can collect this information by having candidates take personality tests.
Answer the following statement true (T) or false (F)