Question 27(1 point)

If an auditor identifies limited problems with the firm's financial methods and statements, but believes that in all other aspects the statements are fair and accurate, the auditor's report will express an adverse opinion.

Question 27 options:

TrueFalse

Question 28(1 point)

An example of a fixed cost would be the interest on a bank loan.

Question 28 options:

TrueFalse

Question 29(1 point)

Radcliffe McCoy is the financial manager for his company. He is comparing income statements from the past three years to see the trend (if any) in cost of goods sold and other expenses. Which of the following is he using?

Question 29 options:

ratio analysis

vertical analysis

managerial analysis

horizontal analysis

Question 30(1 point)

Which of the following shows the cash flowing in and out of a firm through its operating, investing, and financing activities?

Question 30 options:

income statement

operating budget

retained earnings

statement of cash flows

Question 31(1 point)

What technique is used by managerial accountants to assign product costs based on links between activities that drive costs and the production of specific products?

Question 31 options:

actual basis costing

activity-based costing

actuarial-based costing

break-even analysis

Question 32(1 point)

Forensic accountants provide standardized reports primarily intended for managers and other decision-makers employed by an organization.

Question 32 options:

TrueFalse