If a client intends to count inventory at an interim date, the auditor should expect there to be all of the following except
A) controls over the preparation and maintenance of perpetual inventory records.
B) competent personnel assigned to count the inventory.
C) third-party inventory counting specialists.
D) an adequately designed plan to count the inventory.
C
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Which of the following statements about automobile insurers that specialize in insuring high-risk motorists with poor driving records is (are) true?
I. The actual premium paid by an applicant is set by the federal government and is independent of an applicant's driving record. II. The coverages available may be more limited than those written by insurers in the standard market. A) I only B) II only C) both I and II D) neither I nor II
In order to profit from an expected near-term increase in the relative value of the British pound
versus the U.S. dollar, an investor would be wise to maintain a short position in pounds, then sell when the pound rises in relative value. Indicate whether the statement is true or false