If the adjusting entry to record accrued interest revenue is omitted, the total assets will be_____ on the balance sheet.

The concepts of audit risk and materiality are interrelated and must be considered together by the auditor. Which of the following is true?

A. Audit risk is the risk that the auditor may unknowingly express a modified opinion when, in fact, the financial statements are fairly stated. B. The phrase in the auditor's report "present fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America" indicates the auditor's belief that the financial statements as a whole are not materially misstated. C. If misstatements are not important individually but are important in the aggregate, the concept of materiality does not apply. D. Material fraud but not material errors cause financial statements to be materially misstated.

Managers have many roles within the organization. Discuss the interpersonal roles of managers and how those roles affect the organization

What will be an ideal response?