Since the passage of the Clean Water Act in 1972 the focus of federal law has been on:
a. particulate pollution
b. point source pollution c. nontoxic pollution
d. pollution from coal plants
e. there has been no focus of federal law since 1972
b
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When auditing only a single financial statement or a specific element, account, or item of a financial statement, the auditor will have a better understanding of the entity than if the auditor audited the entity's complete set of financial statements
a. True b. False Indicate whether the statement is true or false
Thomas and James, a law firm, has support staff for its attorneys. The two attorneys work a total of 2,00 . hours each and make $80,00 . each per year. The total support budget is $200,000 . of which $160,00 . is professional support, and $40,00 . is general office overhead. A job requiring 50 professional hours should be billed how much for overhead if a simplified costing approach is used and
labor cost is the cost driver? a. $625 b. $2,000 c. $2,500 d. $1,000
The ________ sales presentation method is most appropriate when information needs to be gathered from the prospect, as is often the case in selling industrial products.
A. formula B. stimulus-response C. canned D. need-satisfaction E. persuasive
Which of the following is/are not true?
a. U.S. GAAP and IFRS require firms to recognize the cost of retirement benefits (pensions, health care, life insurance) as an expense while employees work, not when they receive payments or other benefits during retirement. b. Employers often contribute cash to a trust, an entity administered by the employer, to fund their retirement obligations. c. The accounting records of the trust established to fund the retirement obligations are separate from the accounting records of the employer, and the amounts on the two sets of books usually differ. d. Payments to employees come from both the employer's contributions and investment returns of the trust established to fund the retirement obligations. e. all of the above