presentation and disclosure b. valuation or allocation c. existence or occurrence d. completeness 2. The completeness assertion would be violated if a. disclosure in the statements of pledged receivables was inadequate b. unbilled shipments occurred during the period c. fictitious sales transactions were included in accounts receivable d. the allowance for doubtful accounts was understated 2) The rights and obligations assertion applies to: A: Transactions on accounts 3) Which of
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2012FA-BUSI-2301-6001 2012FA-BUSI-2301-6001 2. Exams 3. Take Test: Exam 2 Menu Management Options * * * * * Expand All * Collapse All * 2012FA-BUSI-2301-6001 (2012FA-BUSI-2301-6001) * Textbooks * Syllabus * Instructor Info * Exams * Case Studies * Email * Power Points * Make a RTF File * Announcements * Check grade * Tools * Class Policies Take Test: Exam 2 Content Top of Form Assistive Technology
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Exam Review Chapter1 * Financial institution‚ intermediaries‚ central bank‚ bank‚ what a security is? Financial instrument that allows the holder to get cash flow… primary/secondary market * Security- aka financial instrument – a claim to the issuer’s future income or assets. Bond – debt security. * Financial intermediary – institutions‚ such as commercial banks‚ savings and loan associations‚ mutual savings banks‚ credit unions‚ insurance companies‚ mutual funds‚ pension funds‚ and
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SCH 4U1 FINAL EXAM REVIEW ATOMIC STRUCTURE AND MOLECULAR ARCHITECTURE 1. Describe the wave mechanical model of the atom. 2. Write the ground state electron configuration for Br. 3. Explain why the first ionization energy for Ne is significantly greater than Na. 4. Distinguish between ionization energy and electronegativity. 5. How does VSEPR Theory account for the fact that the bond angle in H2O is less than NH3? 6. Which of the following molecules are polar? Include diagrams
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An exam consists of 20 multiple-choice questions. Each question has five possible answers and all questions carry equal weight. Mary has not studied for the exam and will be picking her answers at random. What is the probability that Mary will get a score of at least 30% on this exam? n=20‚ p=0.20 P(X≥6) (0.30)(20)=6 Distribution Plot Binomial‚ n=20‚ p=0.2 0.25 Probability 0.20 0.15 0.10 0.05 0.1958 0.00 0 P(X≥6)=0.196 X 6 If 40% is the lowest passing
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Audit Documentation Purpose: 1. Main evidence of procedures‚ work performed on audit 2. Prepare sufficient & appropriate audit documentation on timely basis 3. enhance audit quality 4. facilitate effective review 5. evaluate audit evidence obtained & conclusions reached before finalizing auditor’s report 6. assisting audit team plan & perform for audit 7. assist audit team members’ supervise & direct audit work‚ discharge responsibilities (Quality Control
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step to evaluate the client is to confer with the predecessor auditor. The client granted me permission to contact the previous auditor and he indicated the problems the firm had with Ocean: (1) complexities and problems with Ocean’s new IT system (2) management’s tendency to aggressively reflect year-end accruals in order to meet creditors’ requirements As far as we know the company switched to a new system in 2011 and the transition to the system was not well managed. The company was working
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accordance with an identified financial reporting framework. An auditor is setting out to achieve enhanced credibility of information disclosed to increase reliability for the users of the financial statements. A definition from the Committee on Basic Auditing is as follows: A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating
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Chapter 7 Current Architecture definition: (review) Documentation of existing strategic goals‚ business services‚ information flows‚ IT systems/services‚ and technology infrastructure. function of Current Architecture (review) check whether there’s a good alignment between business process‚ technology and people (pg. 141) Benefit of Current Architecture becomes a reference baseline that then supports planning and decision-making regarding the future architecture Goal of Current
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Auditing – acc546 (3 credits) In this course‚ students focus on the auditing practice performed by public accountants. Topics include the CPA profession and the auditor’s role‚ planning the audit‚ audit reporting and required communications‚ evaluating internal controls‚ audit programs for current assets and liabilities‚ and audit programs for other business cycles. This graduate-level course is 6 weeks. To enroll‚ speak with an Enrollment Advisor. Topics and Objectives The CPA Profession
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