One of the first things a newly married couple should do is update their financial records and consider making each other the beneficiary on their financial accounts

Indicate whether this statement is true or false.

Answer: TRUE

Business

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Audit risk at the assertion level consists of inherent risk, control risk, and detection risk. Which of the following statements is true?

A. Cash is more susceptible to theft than an inventory of coal because it has a greater inherent risk. B. The risk that material misstatement will not be timely prevented or detected by internal control can be reduced to zero by effective controls. C. Detection risk is a function of the efficiency of an auditing procedure. D. The existing levels of inherent risk, control risk, and detection risk can be changed at the discretion of the auditor.

Business

When an employer breaches an employment contract, what obligation does the employee have

in seeking substitute employment? A) Because it was the employer who breached, the employee has no obligation to seek substitute employment. B) The employee is obligated to accept any employment for which the employee is qualified. C) The employee must accept any employment available with the same employer, but is not required to accept any substitute employment with a different employer. D) The employee is obligated to accept substitute employment only if it is comparable employment. E) The employee must accept any employment available with a different employer, but is not required to accept any substitute employment with the same employer.

Business