If the auditor of obtains satisfaction with respect to the accounts receivable balance by alternative procedures because it is impracticable to confirm accounts receivable the auditor's report should be on modified and could be expected to
a. Disclose that alternative procedures were used because of a management imposed scope limitation
b. Disclose in the opinion paragraph that confirmation of accounts receivable was impracticable
c. Not mention alternative procedures
d. Refer to a note that discloses the alternative procedures
Ans: c. Not mention alternative procedures
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Corporate _________ are often paid at least nominal sums and may receive more in larger corporations due to time, effort and risk involved.
Fill in the blank(s) with the appropriate word(s).
The net present value (NPV) for project alpha is closest to ________
Consider the following two projects: Project Year 0 C/F Year 1 C/F Year 2 C/F Year 3 C/F Year 4 C/F Year 5 C/F Year 6 C/F Year 7 C/F Discount Rate Alpha -79 20 25 30 35 40 N/A N/A 12% Beta -80 25 25 25 25 25 25 25 13% A) $31.35 B) $25.08 C) $37.62 D) $21.32