Which of the following best describes the general character of the three PCAOB generally accepted auditing standards that are classified as standards of fieldwork?
A. The competence, independence, and professional care of persons performing the audit.
B. Criteria for the content of the auditor's report on financial statements and related footnote
disclosures.
C. The criteria of audit planning and evidence-gathering.
D. The need to maintain independence in mental attitude in all matters relating to the audit.
C. The criteria of audit planning and evidence-gathering.
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If the net cash inflows are unequal, how is the payback period (in years) of an investment calculated?
What will be an ideal response?
Which of the following is a provision under the Drug-Free Workplace Act?
A) It requires employers who receive federal aid to develop an antidrug policy for employees. B) It requires employers who do business of $10,000 or more with the federal government to provide drug-free awareness programs for employees. C) It requires employers who receive aid from nonprofit corporations to make employees aware of assistance programs for those with drug problems. D) It requires employers who do business of $10,000 or more with the state government to warn employees of penalties for violating the company's drug-free policies.
Examine relevant data from the published accounts to help decide whether the price Lafarge paid for Orascom based on profitability performance and growth expectations was good value.
What will be an ideal response?
Yaleta is a country of two hundred thousand people on a medium size island in the South Atlantic. Legal matters are decided by elected Law Gurus. The people of Yaleta over one thousand years ago wrote a comprehensive code to guide the Gurus. When subjects bring cases before them, the Gurus control the flow of information and ask questions of the parties, consult the codes, and make binding
decisions. The rulings are recorded but the reasons are not; the Gurus believe the only law they need to consult is the code. Often the traders in Yaleta will consult these codes to determine probable legal outcomes. This system most closely resembles a. an adversary law system. b. an inquisitorial system. c. an equity system. d. a common law system.