The duty of obedience owed by an agent to a principal is not breached and will not result in liability to the principal if the agent refused to do an illegal or unethical act for the principal
Indicate whether the statement is true or false
True
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Which of the following statements regarding customer satisfaction is true?
A) Very satisfied customers usually switch back and forth with competitors' products. B) Over 90 percent of dissatisfied customers lodge complaints. C) Very satisfied customers often buy higher margin products and extra services. D) Dissatisfied customers who complain cannot usually be retained. E) Satisfied customers are very loyal and buy in relatively large amounts.
Which of the following is not one of the reasons for increased litigation related to audits?
a. Class action lawsuit. b. Increased complexity of accounting standards. c. Contingent-fee-based compensation for law firms. d. Joint and several liability doctrines.
Manufacturing costs incurred in an accounting period cannot be included in cost of goods sold for the subsequent accounting period
Indicate whether the statement is true or false
Which statement contains abstract or ambiguous language?
A) Antwon's email contains five misspelled words. B) More than 76% of the employees belong to a union. C) At least eight associates submitted their expense reports after the deadline. D) The office manager purchased 15 cartons of paper for delivery on Tuesday. E) The customer service department received some complaints today.