The amount of the depreciation expense for the second full year of use of a fixed asset costing $100,000, with anestimated residual value of $5,000 and a useful life of 4 years, is $25,000 by the double-declining-balance method

Which of the following procedures would an auditor most likely include in the planning phase of a financial statement audit?

a. Obtain an understanding of the entity's risk assessment process b. Identify specific internal control activities designed to prevent fraud c. Evaluate the reasonableness of the entity's accounting estimates d. Perform cutoff tests of the entity's sales and purchases

Direct-to-consumer news releases are

A) specialized documents used to share relevant information with the news media. B) compliance documents written for governmental regulatory agencies. C) financial statements intended for the use of top corporate managers. D) general purpose tools for communicating directly with customers and other audiences. E) Twitter-ready statements.