The PCAOB's role is to:
a. conduct audits of the governmental entities
b. conduct the final review of auditors' work before the auditor's opinion is issued
c. oversee the auditors of public companies in order to protect the interests of investors
d. sanction auditors who fail to follow GAAS
Ans: c. oversee the auditors of public companies in order to protect the interests of investors
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Apr May Jun Cash collections $40,000 $40,000 $52,000 Cash payments: Purchases of direct materials 4,500 5,000 7,000 Operating expenses 7,200 7,000 4,500 Capital expenditures 5,000 0 10,000 The cash balance on April 1 is $14,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of April. A) $95,800 B) $54,000 C) $37,300 D) $65,300