This Question Tests Your Ability to Perceive the Place(s)where Potential

question 18

Essay

This question tests your ability to perceive the place(s)where potential problems may exist and the type of problem (overstatement or understatement)that may exist.
Required: For each of the items below,identify the account(s)that need(s)to be audited carefully and the reason;for example,"potential overstatement or understatement of _______."
A)Current year accounts receivable is larger than last year but the allowance for doubtful accounts is the same.
B)Current year inventory is larger than last year but the current year gross margin (profit)is larger.
C)Current year long-term liabilities are larger than last year but the interest expense is the same.
D)Current-year fixed assets total is larger than last year but current amortization expense is the same as last year.

• A)Current year accounts receivable is larger than last year but the allowance for doubtful accounts is the same.
• B)Current year inventory is larger than last year but the current year gross margin (profit)is larger.
• C)Current year long-term liabilities are larger than last year but the interest expense is the same.
• D)Current-year fixed assets total is larger than last year but current amortization expense is the same as last year.

Acknowledge the role of genetics and brain chemistry in mood and eating disorders.

Distinguish between different mood disorders and their treatments.

Understand the characteristics and symptoms of eating disorders.

Recognize the environmental and familial factors contributing to the development of psychological disorders.

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Definitions:

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