Which of the following is not a part of the role of internal auditors?
a. Assisting the external auditors
b. Providing reports on the reliability of financial statements to investors and creditors
c. Consulting activities
d. Operational audits
Ans: b. Providing reports on the reliability of financial statements to investors and creditors
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The Golden Rule of ethics is: "Justice is nothing else than the interest of the stronger."
a. true b. false
You have decided to endow a Chair in Finance at Whatsamatta University
How much money must you deposit into the endowment account today if the Chair pays $125,000 per year forever (first payment one year from today) and is invested at a rate that pays out 4.50% per year? A) $277,777.78 B) $2,902,777.78 C) $2,777,777.78 D) There is not enough information to answer this question.