Amajor objective of written representations is to

a. shift responsibility for financial statements from the management to auditors.
b. provide a substitute source of audit evidence for substantive procedures that auditors would otherwise perform.
c. provide management an opportunity to make assertions about the quantity and valuation of the physical inventory.
d. impress on management its ultimate responsibility for the financial statements and disclosures.

Which of the following is an element of inventory holding costs? a. material handling costs b. investment costs c. housing costs d. pilferage, scrap, and obsolescence e. all of the above are elements of inventory holding costs.

An investor purchases 500 shares of nevada industries common stock for $22.00 per share today. at t = 1 year, this investor receives a $0.42 per share dividend (which is not reinvested) on the 500 shares and purchases an additional 500 shares for $24.75 per share. at t = 2 years, he receives another $0.42 (not reinvested) per share dividend on 1,000 shares and purchases 600 more shares for $31.25 per share. at t = 3 years, he sells 1,000 of the shares for $35.50 per share and the remaining 600 shares at $36.00 per share, but receives no dividends. assuming no commissions or taxes, the money-weighted rate of return received on this investment is closest to:

Which of the following commission structures creates sales people who are highly motivated to close a sales,because their entire income depends on it?