Auditors have a higher degree of responsibility for detecting illegal acts that have a direct effect on the financial statements than illegal acts that do not have a direct effect on the financial statements

Indicate whether the statement is true or false

TRUE

Business

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What is true about a defined benefits pension plan?

A. A defined benefit plan defines the amount of cash that an employer must deposit to fulfill its pension obligation to employees. B. No investment risk is borne by an employer. C. At the end of the reporting period, an employer can measure exactly the total amount of pension benefits that it is responsible to employees in the future. D. The benefits to be paid to employees depend on events that are beyond the employer's control.

Business

Which statement regarding special foods is incorrect?

a. Corn-on-the-cob, a U.S. food, is considered a food for animals only in other countries. b. Most countries enjoy popcorn. c. Eating sheep's eyeballs in Saudi Arabia is common. d. In Mexico, chicken soup may contain the chicken's feet.

Business