Payment of the broker's commission:
a. does not establish agency
b. establishes an agency relationship
c. determines loyalty
d. implies vicarious liability
Ans: a. does not establish agency
Business
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If acceptable audit risk is set at low and the assessed risk of material misstatement is high, then detection risk must be:
A) High. B) Moderate. C) Low. D) Cannot determine detection risk from the information given.
Business
Jenny downloaded the company's umbrella sales for the past fiscal year to forecast the sales for the next fiscal year. Looking at the downloaded data set, she decided to use the Holt-Winters multiplicative model because the data set showed ________
A) no trend and no seasonality B) trend and seasonality C) a trend and no seasonality D) seasonality and no trend
Business