The Georgia Real Estate Commission is:
A. A private corporation regulated by the state.
B. A budget unit Georgia assigned to the office of the Secretary of State.
C. A brokerage company.
D. Regulated by the Real Estate Commissioner.
Answer: B. A budget unit Georgia assigned to the office of the Secretary of State.
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Indicate whether this statement is true or false.
Which of the following is an accurate statement regarding perpetual inventory master files?
A) When perpetual inventory master files are accurate, auditors can test the physical inventory after the balance sheet date. B) It is a difficult procedure for the auditor to test the accuracy of the perpetual inventory master files. C) Auditors test the perpetual records for reductions in finished goods for sale as part of the sales and collection cycle. D) All of the above are accurate statements.