In those audits where there is a heightened risk of fraud related to stockholders' equity accounts, which of the following will the auditor typically not perform?
a. Confirm terms of equity arrangements and shares held directly with shareholders.
b. Account for and vouch all proceeds from stock issues.
c. Confirm with shareholders whether there are any side agreements.
d. Review equity authorizations in the board meeting minutes.
d
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The business analysis for a new product begins with ________
A) idea generation B) problem recognition C) assessing how the new product will fit into a firm's total product mix D) perceptual mapping E) identifying the distribution channel for the product
Respond to the following: a. What is meant by the “articulated” approach to financial statements? b. How does the revenue-expense approach differ from the asset-liability approach for defining accounting elements? c. What, if any, would be the advantage of using a non-articulated approach to financial statements?
What will be an ideal response?
A contract most likely will be declared unconscionable if:
a. it is unbalanced, making it unfair to one party. b. it contains a cancellation clause. c. it is oppressive and the weaker party did not fully understand the consequences of the agreement. d. it is signed by a minor for an item of luxury.
Organizations can support the satisfaction of ____ needs by recognizing good performance and permitting employees to work autonomously to complete challenging and meaningful job tasks.
a. Self-realization b. Physiological c. Esteem d. Social