Empire Business Machines,Inc

question 71

Multiple Choice

Empire Business Machines,Inc.(EBM) is audited by Flintstone and Sigmond Co.Empire utilizes periodic inventory and has ten locations throughout Wyoming,Utah and Idaho.The audit program of Flintstone and Sigmond requires that the following procedure be performed by the senior auditor,manager and four other auditors: Procedure A-1 of Flintstone and Sigmond primarily relates to which management's assertion?

• A)existence
• B)valuation
• C)observation
• D)rights

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Definitions:

Corporate Social Responsibility (CSR)

A business model where companies integrate social and environmental concerns in their operations and interactions with stakeholders, aiming to contribute positively to society.

Becoming Profitable

The process or stage where a business starts generating a financial gain or profit beyond its operational costs and expenses.

Microfinance

A source of financial services for entrepreneurs and small businesses lacking access to banking and entrepreneurial training.

Financial Services

A broad range of services including banking, investment, insurance, and other fiscal transactions that are managed or offered by financial institutions.