According to SEC independence regulations,
a. All audit partners must rotate every 5 years
b. Preapproval of accountants' services may be in accord with detailed policies and procedures rather than explicit
c. The issuer must disclose only those fees paid to the accountant for audit work
d. No partner may sell nonaudit services to the client during the audit
Ans: b. Preapproval of accountants' services may be in accord with detailed policies and procedures rather than explicit
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If a trust deed contained a clause providing that the indebtedness was to be paid in full if the property was sold, it would be said that:
a. The trust deed has an acceleration clause b. The trust deed had been subordinated c. The trust deed contains an alienation clause d. The trust deed was a most unusual type
Which of the following routine messages is most likely to end up as part of an employee's permanent record?
A) A letter of recommendation B) A congratulatory message C) A message of appreciation D) A message of condolence E) A message fostering goodwill