Use the information in Scenario E.1. Approximately what percentage of total customers who arrived during the 2-hour period found the buffer full and were not able to enter?
A) 87%
B) 13%
C) 94%
D) 6%
B
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Which of the following statements is true concerning the fraud risk model?
a. Assessing incentive is the first phase of the model. b. The fraud risk model should be reviewed with the audit team. c. The fraud risk model should be modified based on a review of internal controls. d. Auditors do not use a fraud risk model.
The auditor selects a sample of asset disposals and examines the sales documentation evidencing disposal of the equipment and recomputes gain or loss on the disposal. This audit steps primarily tests which of the following assertions for the equipment account?
a. Existence. b. Presentation and disclosure. c. Rights. d. Valuation.
Equipment was acquired for $256,000 and has accumulated depreciation of $190,000. The business exchanges this equipment for new equipment. The new equipment has a market value of $209,000 and the business pays $157,000 cash. Assume the exchange has commercial substance. The exchange results in ________.
A) loss $14,000 B) gain $14,000 C) gain $143,000 D) loss $143,000
Which method of setting an advertising budget is based on analyzing competitors' spending?
A) the percentage-of-sales method B) the top-down method C) the bottom-up method D) the objective-task method E) the competitive-parity method