All of the following are correct statements about credit except
A) creditor provides funds.
B) credit needs to be paid back in the future.
C) repayment will include interest.
D) the interest is the total amount to be repaid.
Answer: D
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Audit report content and format may vary; but according to The International Standards of Professional Practice of Internal Auditing which of the following is a necessary element?
a. Status of findings from prior reports. b. The auditee's views about the engagement's conclusions. c. Statement of what was cover in the engagement. d. Documentation of previous oral communications with area management. e. Related activities not examined in the engagement.
An expense that would be included in the itemized deductions of a taxpayer is
A) travel to work. B) life insurance premiums. C) real estate property taxes. D) a driver's license fee.