Use a four-period moving average to determine the forecasted demand for July, August, and September
The following data summarizes the historical demand for a product:
Month Actual Demand
March 20
April 25
May 40
June 35
July 30
August 45
Answer: July forecast = 30; August forecast = 32.5; September forecast = 37.5
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An auditor most likely modifies the opinion if the entity's financial statements include a note on related party transactions
A. Disclosing loans to related parties at interest rates significantly below prevailing market rates. B. Describing an exchange of real estate for similar property in a nonmonetary related party transaction. C. Stating without substantiation that a particular related party transaction occurred on terms equivalent to those that would have prevailed in an arm's-length transaction. D. Presenting the dollar volume of related party transactions and the effects of any change from prior periods in the method of establishing terms.
A lay witness may testify about:
a. something he or she heard. b. something he or she saw. c. conclusions of law. d. Both a and b e. All of the above