Which of the following is a misappropriation of assets? a. Classifying inventory held for resale as supplies.

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Which of the following is a misappropriation of assets?

a. Classifying inventory held for resale as supplies.

b. Investing cash and earning a 3 percent rate of return as opposed to paying off a loan with an interest rate of 7 percent. An employee of a consumer electronic store steals 12 CD players.

d. Management estimates bad debt expense as 2 percent of sales when it actually expects bad debts equal to 10 percent of sales.. K-9875

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Auditing And Assurance Services A Systematic Approach

ISBN: 9780073337203

5th Edition

Authors: William Messier, Steven Glover, Douglas Prawitt

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