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Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
Edition 9ISBN: 978-0130459206Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
Edition 9ISBN: 978-0130459206 Exercise 26
Which of the following is a misappropriation of assets?
A) Classifying inventory held for resale as supplies.
B) Investing cash and earning a 3 percent rate of return as opposed to paying off a loan with an interest rate of 7 percent.
C) An employee of a consumer electronics store steals 12 CD players.
D) Management estimates bad debt expense as 2 percent of sales when it actually expects bad debts equal to 10 percent of sales.
A) Classifying inventory held for resale as supplies.
B) Investing cash and earning a 3 percent rate of return as opposed to paying off a loan with an interest rate of 7 percent.
C) An employee of a consumer electronics store steals 12 CD players.
D) Management estimates bad debt expense as 2 percent of sales when it actually expects bad debts equal to 10 percent of sales.
Explanation
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Verified
An employee of a consumer electronics st...
Auditing and Assurance Services 9th Edition by Alvin Arens,Mark Beasley,Randy Elder
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