Investigating registered public accounting firms and their employees, conducting disciplinary hearings, and imposing sanctions where justified are duties of which of the following bodies? 1. General Accounting Office's 2. Oversight Board Public Company 3. Accounting Oversight Board AICPA's 4. Accounting Standards Board 5. SEC's Subcommittee on Corporate Governance

Achecklists should be based on past

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable