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