Tests of which balance-related audit objective are normally performed first in an audit of the sales and collection?

Select financial data for Ewing Oil Inc. is provided in the table below. Ewing Oil repurchased $4.75B worth of shares during the year at an average price of $25. How many shares are outstanding at the end of the year?

Ewing Oil Inc. Selected Financial Information Shares outstanding at beginning of Year 1.86B Price at beginning of Year $25 Value of company beginning of Fiscal 46.5B A) 1.67B B) 1.86B C) 1.97B D) 2.05B E) 2.19B

The simple structure is most widely practiced in small businesses in which ________

A) the manager and owner are one and the same B) the number of employees is between 100 to 150 C) employees are highly skilled D) managers are hired directly by the company's owner E) training budgets are limited