In testing plant and equipment balances, an auditor may physically inspect new additions listed on the summary of plant and equipment transactions for the year. This procedure is designed to obtain evidence concerning management's assertions about classes of transactions and events, and specifically, which assertion?
A. Authorization.
B. Occurrence.
C. Classification.
D. Cutoff.
Answer: B
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Explain how Take Order can be either an economic or a support event
Sustainable economic development
A. meets future needs without compromising present needs. B. always generates greater profitability. C. produces greater diversity in the workforce. D. meets present needs without compromising the ability of future generations to meet their needs. E. is an idea proposed by Frank and Lillian Gilbreth to cut costs and increase efficiency.
Daniel, his parents, and three brothers own all the stock of their family farm corporation. This corporation, which is taxed as a corporation, is probably:
a. an S corporation. b. a C corporation. c. a closely held corporation. d. an LLC.
Triple-bottom line refers to
A. the recognition of the need for organizations to be responsible simultaneously to shareholders, employees, and customers. B. the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth. C. three different financial statements prepared in three different formats: one for governmental regulators, one for shareholders, and one for internal use. D. the obligations an organization has to practice profit, stakeholder, and societal responsibility simultaneously. E. the obligations an organization has to those who can affect achievement of its sales, profit, and market share objectives simultaneously.