If a company has no debt financing, its return on equity equals its return on assets

Worksheet procedures for a merchandising business using the perpetual inventory system are different from the worksheet procedures for a service business

Indicate whether the statement is true or false

At the conclusion of an audit, an auditor is reviewing the evidence gather in support of the financial statements. with regard to the valuation of inventory, the auditor concludes that the evidence obtained is not sufficient to support management's representations. which of the following actions is the auditor most likely to take?

a. consult with the audit committee and issue a disclaimer of opinion b. consult with the audit committee and issue a qualified opinion c. obtain additional evidence regarding the valuation of inventory d. obtain a statement from management supporting their inventory valuation .