Why is it more difficult for women to plan for their retirement than it is for men?
A) On average, men die younger than women.
B) Women generally earn less income and pay less into Social Security than men do.
C) Women rely on defined-benefit plans more than men do.
D) All of the above are correct.
E) Only A and B are correct.
Answer: E
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The following information is from the 2017 records of Armand Music Shop
Accounts receivable, December 31, 2017 $41,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,300 (debit) Net credit sales for 2017 175,000 Accounts written off as uncollectible during 2017 15,000 Cash sales during 2017 30,000 Bad debts expense is estimated by the percent-of-sales method. Management estimates that 6% of net credit sales will be uncollectible. Calculate the amount of bad debts expense for 2017. A) $10,500 B) $8,040 C) $12,300 D) $9,200
A primary responsibility of an auditor with regard to improper segregation of duties is to:
A. Ensure the enforcement of proper segregation of duties. B. Advise senior management of the risk involved in not implementing proper segregation of duties. C. Participate in the organization's definition of roles and responsibilities, to prevent improper segregation of duties. D. Simply document breaches of proper segregation of duties.