Which of the following primarily shapes the context in which auditing takes place? The American Institute of Certified Public Accountants [AICPA].
A) The Securities and Exchange Commission [SEC].
B) The entity's business environment.
C) Legislation passed by Congress.
Answer: C) Legislation passed by Congress.
Business
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Internally generated goodwill should not be capitalized in the accounts.
a. true b. false
Business
Which of the following were NOT identified by the authors as a variable that needs to be modified in the domestic theory of optimal financial structures to accommodate the case of the multinational enterprise
A) Financial Distress B) Availability of capital C) Diversification of cash flows D) Foreign exchange risk
Business