Which of the following is an analytical procedure?
a. Comparing current year balances to prior year balances
b. Matching sales invoices to shipping documents
c. Confirming A/R
d. Making inquiries of client management
Ans: c. Confirming A/R
Business
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Shelving and racks used in business and installed by the tenant are generally considered to be which type of the following?
A. Real property B. Trade fixtures C. Ostensible property D. Property of the landlord
Business
Quick Cement has a return on assets of 8%. If it has $1.5 million in total assets and a total asset turnover of 2, it follows that the firm must have a net profit margin of
A) 4%. B) 6%. C) 8%. D) 12%.
Business