Downsizing efforts often fail because:
A) of increased dependence on transfers and outsourcing.
B) of increased technological failures that occur after downsizing.
C) it cannot be used for temporary workers.
D) it would not lead to restructuring of the jobs.
E) survivors become self-absorbed and avoid risks.
Answer: E) survivors become self-absorbed and avoid risks.
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Prinkle Corporation purchased equipment for $60,000 on January 1, 2016. On December 31, 2018, the equipment was sold for $28,000. Accumulated Depreciation as of December 31, 2018 was $31,000
Calculate gain or loss on the sale. A) $1,000 gain B) $1,000 loss C) $31,000 loss D) no gain no loss
After audit procedures are completed, a partner of the CPA firm who has not been involved in the audit performs a second or wrap-up audit documentation review. This second review usually focuses on
a. Whether the financial statements are consistent with the auditor's understanding of the entity b. Fraud involving the client's management and its employees c. The materiality of the adjusting entries proposed by the audit staff d. The communication of internal control weaknesses to those charged with governance