When obtaining evidence about internal control operating effectiveness, the auditor will select only entity-wide controls for testing
a. True
b. False
Indicate whether the statement is true or false
False
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From a leadership perspective on the issue of organizational culture, it is most useful to focus on ______ because these can be shaped and managed directly.
a. competitive advantage b. norms and values c. artifacts such as symbols and language d. competitive disadvantage
Department G had 3,600 units, 25% completed at the beginning of the period, 15,000 units were completed during the period, 3,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period $40,000 Costs added during period: Direct materials (10,400 at
$8 ) 83,200 Direct labor 63,000 Factory overhead 25,000 Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the total cost of the departmental work in process inventory at the end of the period (round unit cost calculations to four decimal places)? A) $16,163 B) $21,432 C) $35,670 D) $20,925
Valley Spa purchased $7,800 in plumbing components from Tubman Co. Valley Spa Studios signed a 60-day, 10% promissory note for $7,800. If the note is dishonored, what is the amount due on the note? (Use 360 days a year.)
A. $8,050 B. $7,930 C. $7,800 D. $130 E. $8,130
Tina Sommers borrows $10,000 from Freddy Gomez and gives him a chattel mortgage on her car and a chattel mortgage on her boat as security. Freddy registers the chattel mortgage on the car, but forgets to register the one on the boat
Tina sells the car and the boat to Betty Stover who knows nothing of either chattel mortgage. Which, if any, of the chattel mortgages is enforceable? A) The one on the car B) The one on the boat C) Both A and B D) Neither A nor B E) Freddy will have to negotiate with Betty to determine if any of the chattel mortgages is valid