BUS-A 100 Study Guide - Final Guide: Net Income, Variable Cost, Income Statement

• School: IU
• Department: Business
• Course: BUS-A 100
• Professor: All

Document Summary

Which of the following is not a function of good internal controls? a to guarantee a profit for the company. To help maintain accurate accounting data c to safeguard the company"s assets d to promote efficiency within the company e to help avoid fraud and errors by employees. Which of the following relates to section 302 of sarbanes-oxley? a it established the pcaob. It requires the auditors to be audited every year. c it requires that the lead auditor rotate every five years. d it requires that the auditors maintain their workpapers for at least seven years e none of the above. Which of the following is the best opinion on financial statements that an auditor can give? a qualified opinion. Excellent opinion c exceptional opinion d unmodified opinion e outstanding opinion. Use the following information to answer questions 4 and 5: Stucco incorporated produces shoes that it sells to stores for per pair.