Which of the following is not true?
a. Management may outsource their organizations' IT functions, but they cannot outsource their management responsibilities for internal control.
b. Section 404 requires the explicit testing of outsourced controls.
c. The SSAE 16 report, which is prepared by the outsourcer's auditor, attests to the adequacy of the vendor's internal controls.
d. Auditors issue two types of SSAE 16 reports: Type I report and Type II report.
C
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The reserved rights theory generally contends that ________
a. the union has only those rights that are specifically mentioned in the contract b. management retains all rights except those it has expressly agreed to share with or relinquish to the union c. the management has only those rights that are specifically mentioned in the contract d. the union obtains all rights that are not specifically prohibited by the management through a written contract
The cost of a previously purchased machine is an example of a sunk cost
Indicate whether the statement is true or false