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Which of the following best describes how the detailed audit plan of a financial statement
auditor compares with the audit client’s comprehensive internal audit plan?
a. The comprehensive internal audit plan covers areas that an external auditor would normally not review.
b. The comprehensive internal audit plan is more detailed, although it covers fewer areas
than an external audit would normally cover.
c. The comprehensive internal audit plan is substantially identical to the audit plan used by
an external auditor because both review substantially identical areas.
d. The comprehensive internal audit plan is less detailed and covers fewer areas than an
external auditor would normally review.
Which of the following best describes the concept of the aging method of receivables?
Which of the following best describes subjective well-being?
a.it refers to the impersonal, deepest layer of the unconscious mind, shared by all human beings because of their common ancestral past.
Which of the following best describes the existence of undecidable problems?
A. Undecidable problems are problems for which more than one algorithm solves the problem and computer scientists have not yet chosen the algorithm they believe is best
B. Undecidable problems are problems for which an algorithm can be written that will produce the same output for at least two possible inputs
C. Undecidable problems are problems for which an algorithm can be written that produces a correct output for all inputs but in an unreasonable time
D. An undecidable problem is a problem for which no algorithm can be constructed that always produces a correct output
Which of the following best describes the indirect method of preparing the operating activities section of the statement of cash flows?
a. Net income reconciled from accrual basis to cash basis.
b. A list of cash inflows and cash outflows from transactions involving the purchase and sale of longterm assets and current investments.
c. A list of cash inflows and cash outflows from transactions related to revenue and expense activities.
d. A list of cash inflows and cash outflows from transactions with lenders and stockholders.
Which of the following best describe the direction of electric field?
A.Field’s direction is the perpendicular as the force on the positive test charge and i opposite when it is a negative charge.
B.Field’s direction is the opposite as the force on the positive test charge and opposite when it is a negative charge.
C.Field’s direction is zero as the force on the positive test charge and opposite when it is a negative charge.
D.Field’s direction is the same as the force on the positive test charge and opposite when it is a negative charge.
Which of the following best describes the role of analytical procedures near the end of the
audit engagement?
a. To identify possible deficiencies in the client’s internal control over financial reporting.
b. To identify accounts that appear to be misstated with the intention of planning the
nature, timing, and extent of other substantive procedures.
c. To gather evidence to support one or more assertion(s) related to the account balance or
class of transactions.
d. To provide an overall review of the financial information and assessment of the adequacy of evidence gathered during the audit engagement.
Which of the following best describes the difference between the interpretation of the correlation coefficient and the beta coefficient for a regression equation expressing the relationship between variables X and Y?
A) The beta coefficient represents the linear relationship between X and Y, whereas the correlation coefficient represents the percent variability in Y explained by X
B) The beta coefficient represents the difference between observed and expected values of Y, whereas the correlation coefficient represents the linear relationship between X and Y.
C) The beta coefficient predicts increases or decreases in Y with increases or decreases in X, whereas the correlation coefficient provides a unit-free measure of the strength of the relationship.
D) The correlation coefficient predicts increases or decreases in Y with increases or decreases in X, whereas the beta coefficient provides a unit-free measure of the strength of the relationship.
Which of the following best describes a coordinate covalent bond?
1) A single valence electron from the metal and a single valence electron from the ligand are shared.
2) Two valence electrons from the ligand are shared with the metal resulting in a net charge.
3) Two valence electrons from the metal are shared with the ligand.
4) Two valence electrons from the metal are shared with the ligand resulting in a net charge.
5) A single valence electron from the metal and a single valence electron from the ligand are shared resulting in a net charge.
6) Two valence electrons from the ligand are shared with the metal.
Please answer this question in detail because I don’t understand it. Thank you.
Which of the following best describes the role of chemiosmosis in oxidative phosphorylation?
(A) Chemiosmosis is the movement of electrons down their electrochemical gradient, which generates energy in the electron transport chain.
(B) Chemiosmosis is the chemical breakdown of ATP into ADP and inorganic phosphate.
(C) Chemiosmosis is the movement of chemicals dissolved in water down their concentration gradient, across the mitochondrial membrane.
(D) Chemiosmosis is the chemical breakdown of water into hydrogen and oxygen ions at the final stage of the electron transport chain.
(E) Chemiosmosis is the movement of ions down their electrochemical gradient, which generates ATP.
Question: Which of the following best defines heredity?
A. the joining of sex cells to form the first cell of a new organism
B. the cycle through which an organism grows from a young form to a matureform
C. the technology that enables scientists to insert genetic information from oneorganism into another
D. the passage of genetic instructions from one generation to the next
The Excessive Course Fees. The $75 per credit hour course fee tacked on to all the MBA classes has generated a windfall of $56,250 in its first semester. “Now we just need to make sure we spend it all on the MBA students,” the assistant dean said to the Graduate Curriculum Committee. Four months later, the chairman of the committee, Professor Lee, distributed the following shopping list and tried to figure out what items to get for all the MBA students. As an expert in management science, Professor Lee tended to think in terms of binary decision variables, so he added the left-most column for ease of use. For example, if iPads are purchased for all the MBA students, A = 1, and otherwise A = 0; if a job fair is organized for all the MBA students, C = 1, and otherwise C = 0.
Decision Variable | Item | Cost | Note |
A | iPads | $750/unit | Must get the cover if iPads are purchased |
B | iPad covers with MBA logo | $25/unit | Not needed unless we buy iPads |
C | Job fair | $15,000 | Can’t afford both this and the iPads |
D | Subscriptions to the Wall Street Journal | $10/unit | Don’t need if we have the electronic version |
E | Subscriptions to the electronic version of the Wall Street Journal | $5/unit | Worthless without the iPads |
1. Which of the following best describes the relationship between the iPads and the job fair?
Select one:
a. A + C = 2
b. A + C ≤ 1
c. A – C = 0
d. A – C ≤ 1
2. Which of the following represents the budget constraint? Assume that there are 20 MBA students.
Select one:
a. 20A + 20B + C + 20D + 20E ≤ $56,250
b. $750A + $25B + $15,000C + $10D + $5E ≤ $56,250
c. $15,000A + $500B + $15,000C + $200D + $100E ≤ $56,250
d. A + B + C + D + E ≤ 20
Answer ASAP
Which of the following BEST describes a Step-up practice related to Effective Audit and Risk Management – Risk Management and Internal Control Framework?
a. The board establishes a Risk Management Committee, which comprises a majority of independent directors, to oversee the company risk management framework and policies.
b. The board should determine the company level of risk tolerance and actively identify, assess and monitor key business risks to safeguard shareholder investments and the company assets. Internal controls are important for risk management and the board should be committed to articulating, implementing and reviewing the company’s internal control framework.
c. Companies make informed decisions about the level of risk they want to take and implement necessary controls to pursue their objectives. The board is provided with reasonable assurance that adverse impact arising from a foreseeable future event or situation on the company objectives is mitigated and managed.
d. The board should establish an effective risk management and internal control framework and should disclose the features of its risk management and internal control framework, and the adequacy and effectiveness of this framework.
Which of the following best describes the relationship between assurance services and attest services?
a. While attest services involve financial data, assurance services involve nonfinancial data.
b. While attest services require objectivity, assurance servies do not.
c. Both attest and assurance services require independence.
d. Attest and assurance services are different terms referring to the same types of services.
Which of the following does teh fASB consider a source of nonauthoritative guidance for use when there is no authoritative guidance available?
a. The FASB Codification
b. FASB Concepts Statements
c. SEC rules
d SEC interpretive Releases
Financial statment audits performed under PCAOB requirements are designed to provide which types of assurance with respect to the detection of material misstatements due to errors or fraud?
a Reasonable and Absolute
b. Reasonable
c Absolute
d Neither
Which of the following is not explicitly included in a standard report for a nonpublic company?
a. the CPA’s opinion that the financial statements comply with generally accepted accounting practices
b. That generally accepted auditing standards were followed during the audit
c. That internal control of the client was satisfactory
d. An identification of the financial statements audited.
The general group of the 10 PCAOB Auditing Standards require that:
a. The auditors maintain an independent mental attitude
b. The audit be conducted in conformity with general accepted accounting principles
c. Assistants, if any he properly supervised
d. The auditors obtain an understanding of internal control.
Which AICPA quality contorl standard would most likely be satisfied when a CPA firm maintains records indicating which partners or employees of the firm were previously employed by the CPA firm’s clients?
a. Profession relationship
b. Engagement prerformance
c. Relevant ethical requirments
d. Monitoring.
An audit provides resonable assurance of detecting materal:
a Fraudulent Financial Reporting and Missappropriation of assets
b. Fraudulent Finanical Reporting
c. Missappropriation of assets
d. Neither
Which of the following BEST describes the ethical principle of “sharing benefits”?
-All those who belong to the population being studied will share equally from the benefits the study produces.
-All groups involved in a study should be aware that confidentiality is maintained about their personal information.
– All participants in the same study should receive an equal share of any payments promised from research.
-The results from studies must be shared with the public so society may benefit from the increased knowledge.
Which of the following is a common mistake when reviewing research?
– Researching various disciplines on the same topic
– Finding research on the related topics being studied
– Finding no research on or related to the topic
-Being unfamiliar with the research available on the topic
Which of the following best describes experimental research?
-survey of the current state of events
-describes a groups characterisitcs
-high level of control over variable
-provides a broad picture of a concept
Research questions can be as _____ as inquiring about the effects of television on language development, or as ________ as content of commercials and teen buying habits.
-broad, specific
-good, bad
-general, broad
-specific, general
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