B) Benchmark from Market research C) Timesheet of the company employees 2. Passwords and firewalls are used to ensure the security of highly confidenti that is not for external users. A) True B) False 3. The production and sale plans for business may be liming by a limiting facto resources. That could be due to limits of: A) Materials B) Machine hours C) A and B 4. "The increase in value would be created by having available one additional limiting resource at the original cost" is:

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process
Section: Chapter Questions
Problem 20RQSC
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1. What is the external information source that is commonly used?
A) Previous Financial record
B) Benchmark from Market research
C) Timesheet of the company employees
2. Passwords and firewalls are used to ensure the security of highly confidential information
that is not for external users.
A) True
B) False
3. The production and sale plans for business may be liming by a limiting factor or Scarce
resources. That could be due to limits of:
A) Materials
B) Machine hours
C) A and B
4. "The increase in value would be created by having available one additional unit of a
limiting resource at the original cost" is:
A) Demand price
B) Shadow price
C) None of the above
5. The following statements have been made about rolling budgeting:
1) Keep updating the budgeting by adding further an accounting period when the earlier
has expired.
2) The variants of the budget are not adjusted to reflect actual levels.
Which of the above statements is/are true?
A) Only 1
B) 1 and 2
C) None of the above
Transcribed Image Text:1. What is the external information source that is commonly used? A) Previous Financial record B) Benchmark from Market research C) Timesheet of the company employees 2. Passwords and firewalls are used to ensure the security of highly confidential information that is not for external users. A) True B) False 3. The production and sale plans for business may be liming by a limiting factor or Scarce resources. That could be due to limits of: A) Materials B) Machine hours C) A and B 4. "The increase in value would be created by having available one additional unit of a limiting resource at the original cost" is: A) Demand price B) Shadow price C) None of the above 5. The following statements have been made about rolling budgeting: 1) Keep updating the budgeting by adding further an accounting period when the earlier has expired. 2) The variants of the budget are not adjusted to reflect actual levels. Which of the above statements is/are true? A) Only 1 B) 1 and 2 C) None of the above
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