Auditors should provide debt compliance letters only for clients for whom the auditor has done an audit of the overall financial statements

The flexible budget variance for direct cost inputs can be further subdivided into

a. a static-budget variance and a sales-volume variance. b. a sales-volume variance and an efficiency variance. c. a price variance and an efficiency variance. d. a static-budget variance and a price variance.

Gina buys a piece of pottery from Woodward for her principal, Kelvin. If Woodward knows that Gina is buying the pottery on behalf of someone other than herself but does not know the identity of that person, Kelvin is:

a. an independent contractor working for Gina. b. an agent for Woodward. c. an undisclosed principal. d. a partially disclosed principal.