You Are a Public Accountant Retained by the Manager of a Cooperative

question 32

Multiple Choice

You are a public accountant retained by the manager of a cooperative retirement village to do "write-up work." You are expected to prepare unaudited financial statements with each page marked "unaudited" and accompanied by a disclaimer of opinion stating no audit was made.In performing the work,you discover that there are no invoices to support $25 000 of the manager's claimed disbursements.The manager informs you that all the disbursements are proper.What should you do?

• A)Submit the expected statements but omit $25 000 of unsupported disbursements.
• B)Include the unsupported disbursements in the statements since you are not expected to make an audit.
• C)Obtain from the manager a written statement that you informed him of the missing invoices and include his assurance that the disbursements are proper.
• D)Obtain further information about the $25 000 of unsupported items and withdraw if the situation is not satisfactorily resolved.

Comprehend the influence of genetics on personality.

Appreciate the multidimensional approach to analyzing personality.

Apply knowledge of personality theories to understand real-world behaviors and preferences.

Understand different personality types and their behaviors.

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the average cost of production falls with increasing output.

Constant Returns to Scale

A situation in production where increasing the input of all resources by any proportion yields an increase in output by the same proportion.

Long-run Average Total Cost

The per unit cost of production when all inputs, including capital, are variable, assuming optimal efficiency.

Economies of Scale

Describe the cost advantages that enterprises obtain due to the scale of their operations, typically resulting in reduced costs per unit with increased output.