Before performing substantive analytical procedures at an interim date prior to the balance sheet date, an auditor should
a. Obtain audit evidence about the operating effectiveness of controls
b. Determine that the accounts selected for interim testing are not material to the financial statements taken as a whole
c. Consider whether the amounts of the year-end balances selected for interim testing are reasonably predictable
d. Obtain written representations from management that all financial records and related data will be made available
Ans: c. Consider whether the amounts of the year-end balances selected for interim testing are reasonably predictable
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Why do most people launching a start-up company acquire their funds through the venture capital industry rather than through angel investors?
A) Most entrepreneurs are not willing to relinquish the control of their business demanded by angel investors. B) Most entrepreneurs do not want the fees associated with investment by an angel investor. C) Most entrepreneurs do not need the expertise brought to a young firm by an angel investor. D) Most entrepreneurs do not have any relationships with individuals with substantial capital to invest.
The University of Iowa studies indicated that this was the most successful leadership style
A) autocratic B) laissez-faire C) combination of autocratic and laissez-faire D) democratic