What must an appraiser do when they are hired to appraise a property owned by a corporation in which the appraiser owns a share?
a. Refuse the assignment.
b. Disclose their ownership interest in the property and accept the assignment.
c. Disclose their ownership interest in the property and reduce their fee in equal proportion to their ownership share in the corporation.
d. Ignore the issue unless they hold a majority interest in the property.
Answer: b. Disclose their ownership interest in the property and accept the assignment.
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A weekly reconciliation of cash receipts would include comparing
a. the cash prelist with bank deposit slips b. the cash prelist with remittance advices c. bank deposit slips with remittance advices d. journal vouchers from accounts receivable and general ledger