Which procedure would be of most assistance to an auditor discovering a large credit sale that has erroneously been recorded twice?
A. Confirming accounts receivable.
B. Footing the sales journal.
C. Observation of the physical inventory count at year-end.
D. Tracing the total sales in the sales journal to the general ledger.
Answer: A
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The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________
A) maintenance, repair, and operating (MRO) B) product value analysis (PVA) C) vendor managed inventories (VMI) D) supplier performance management (SPM) E) supplier added value effort (SAVE)
Which carbohydrate is used to store energy in the liver?
A. glycerol B. cellulose C. glycogen D. starch E. chitin
Ben just went through an emotional intelligence training program. Which of the following outcomes might he expect to experience?
A. higher work-related stress B. higher morale C. no change in emotional intelligence D. incivility toward others
Compute the return on investment (rounded to nearest percent) for the Tim Tom investment center from the information given below. Tim Tom Subsidiary Total sales $1,600 Operating income $180 Average assets invested $850 Profit margin ? Asset turnover ? ROI?
A) 21% B) 18% C) 15% D) 12%