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Question 9 of 40 The Groupon case deals with all but the following issues: A.Improperly estimated customer returns B.Improper recognition of gross revenue C.Used a

Question 9 of 40

  • The Groupon case deals with all but the following issues:
  • A.Improperly estimated customer returns
  • B.Improper recognition of gross revenue
  • C.Used a new innovative metric of "Adjusted Consolidated Segment Operating Income"
  • D.Blamed material weakness on their auditors EY

Question 10 of 40

  • The main reason the PCAOB has charged Chinese affiliates of U.S. audit firms with failing to provide sufficient documentary evidence of audits of Chinese companies listed on U.S. exchanges is:
  • A.Audit firms are unable to gather sufficient competent evidential matter
  • B.Audit firms are not knowledgeable enough about Chinese accounting standards
  • C.Chinese regulatory agencies can be uncooperative in providing access to PCAOB regarding their inspections of audit documents
  • D.Chinese regulatory agencies conduct inspections of the audit documents of the firms

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