If Purchase Adjustments Are Estimated at Quarter End, _______

question 157

Multiple Choice

If purchase adjustments are estimated at quarter end, _______.

• A)management should establish controls to ensure adjustments are made based on analysts' information and that adjustments are consistent from quarter to quarter
• B)the auditor should establish controls to ensure adjustments are made based on reliable information and that adjustments are consistent from quarter to quarter
• C)management should establish controls to ensure adjustments are made based on reliable information and that adjustments are consistent from quarter to quarter
• D)management should establish controls to ensure adjustments are made based on regulatory information and that adjustments are consistent from quarter to quarter

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Definitions:

Reflectiveness

The capacity to examine and analyze one's own thoughts, feelings, and actions critically and thoughtfully.

Field Dependence

a cognitive style characterized by a reliance on external frames of reference and the tendency to perceive and interpret information in terms of the total field.

Field Independence

A cognitive style in which individuals can easily separate details from the surrounding context, often performing well in tasks requiring finding a figure embedded in a background.

Number Facility

The ability to easily understand numbers and mathematical concepts, including performing mathematical operations.