Substantive tests include Question 14 Which of the following is a preventive control ? Question 15 The concept of reasonable assurance suggests that Question 16 Inherent risk Question 17
The office manager forgot to record in the accounting records the daily bank deposit . Which control procedure would most likely prevent or detect this error ?
Question 18
North , Inc ., earns book net income before tax of $ 500,000 in 2010 . In computing its book income , North deducts $ 50,000 more in warranty expense for book purposes than allowed for tax purposes . North has no other temporary or permanent differences . Assuming the U . S . tax rate is 35 % and no valuation allowance is required , what is North ' s deferred income tax asset reported on its financial statements for 2010 ?
Question 19
Which of the following items are not included in the financial statement income tax note effective tax rate reconciliation ?
Question 20 Which of the following represent temporary book-tax differences ? Question 21