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NEW QUESTION: 1
A. Option D
B. Option B
C. Option A
D. Option C
Answer: A,D
NEW QUESTION: 2
Bill is conducting an audit on a furniture manufacturer. There doesn't appear to be any major issues with the company and its finances. However, Bill has noticed that the company has adopted a new set of accounting standards unusually early.
What should Bill do?
A. Issue an adverse opinion due to concerns raised during the audit.
B. Document this finding in an 'emphasis of matter' statement
C. Issue a modified audit report as he is unsatisfied with the elements examined.
D. Issue a modified audit report as he is satisfied the elements examined.
Answer: B
NEW QUESTION: 3
You have quoted your customer the following eurodollar deposit rates:
1M 5.375-25%
2M 5.4375-3125%
3M 5.5-375%
The customer says, "I give you USD 20 million in the two's".
What have you done?
A. Borrowed USD 20 million at 5.3125%
B. Lent USD 20 million at 5.3125%
C. Lent USD 20 million at 5.4375%
D. Borrowed USD 20 million at 5.4375%
Answer: A
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