QUESTION 59 1 p Auditors, as part of completing the audit, will request the client to send a letter of inquiry to those attorneys the company has been consulting with during the year under audit regarding legal matters of concern to the company The primary reason the auditor requests this information is to: determine the range of probable loss for asserted claims corroborate of information supplied by management concerning litigation, claims, and assessments outside opinion of probability of losses in determining accruals for contingencies. outside opinion of probability of losses in determining the proper footnote disclosure. QUESTION 60 1 p Which statement(s) is/are true concerning the internal rate of return? I. It takes into account the time value of money. II. It is the rate of return that equates the present value of future cash flows to the investment outlay Ionly 1l only Neither I nor II Both I and II Save All Answers Click Save and Submit to save and submit. Click Save All Answers to save all answers. 21 QUESTION 57 When planning a professional presentation which of the following are important to keep in mind? Purpose of the presentation and audience receiving the information. Credibility, sharing and formatting of source information. Colors, font, and images used in presentation materials and handouts. All choices are important to keep front of mind when planning a professional presentation. QUESTION 58 In full costing, which of the following will be included as part of inventory Fixed production cost company's balance sheet? on a S Variable selling cost Fixed selling costs None of the answer choices will be in inventory in full costing. Click Save and Submit to save and submit. Click Save All Answers to save all answers. X OOOO 21 QUESTION 55 Projects with a negative net present value will always have a(n) payback period shorter than the life of the project. accounting rate of return that is greater than zero. an internal rate of return greater than the cost of capital. None of these answer choices are correct. QUESTION 56 A company is trying to decide whether to sell partially completed goods in their current state or incur additional costs to finish the goods and sell them as complete units. Which of the following is not relevant to the decision? The selling price of the completed units The costs incurred to process the units to this point The selling price of the partially completed units The costs that will be incurred to finish the units Save All Click Save and Submit to save and submit. Click Save All Answers to save all answers. W 21
