Answer the following statements true (T) or false (F)
The indirect costs of information pertain to gathering, preparation, and dissemination of information.
ANSWER: F
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An auditor determines that there is an inherent risk that a company has not included both the basic earnings per share and diluted earnings per share amounts in financial statements even though significant dilutive securities are part of the company's complex capital structure. This determination is most likely tied to which of the following management assertions?
a. Valuation. b. Presentation and disclosure. c. Rights and obligations. d. Existence.
Empire Products has begun a process to find the best suppliers. Empire Products is actively engaged in which step of the buyer purchase process?
A) recognition of the problem or need B) selection of an order routine C) search for and qualification of potential sources D) evaluation of proposals E) performance feedback and evaluation
An agent who wishes to avoid liability on contracts he enters into on behalf of the principal should make sure that the principal is:
A) The degree of disclosure is irrelevant. B) Partially disclosed. C) Fully disclosed. D) Undisclosed. E) Either partially disclosed or fully disclosed.
Which of the following sales could not fall under the CISG:
a. electricity b. aircraft c. negotiable instruments d. labor services e. none of the other choices could fall under the CISG