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NEW QUESTION: 1
After determining that a related party transaction has, in fact, occurred, an auditor should:
A. Add a separate paragraph to the auditor's standard report to explain the transaction.
B. Obtain an understanding of the business purpose of the transaction.
C. Substantiate that the transaction was consummated on terms equivalent to an arm's-length
transaction.
D. Perform analytical procedures to verify whether similar transactions occurred, but were not recorded.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Choice "C" is correct. After identifying the occurrence of a related party transaction, the auditor should
apply the procedures considered necessary to obtain satisfaction concerning the purpose and nature of
the transaction and its effect on the financial statements.
Choice "A" is incorrect. While an extra paragraph may be added to emphasize a matter, there is no
requirement that related party transactions be disclosed via explanatory language added to the auditor's
report.
Choice "B" is incorrect. Analytical procedures are generally not effective in the identification of related party
transactions.
Choice "D" is incorrect. It will generally not be possible to substantiate representations that the transaction
was consummated on terms equivalent to those that would have prevailed in an arm's-length transaction.

NEW QUESTION: 2
Which of the following wireless technologies can be detected by NetStumbler? (Select all that apply)
A. 802.11a
B. 802.11g
C. 802.11
D. 802.11e
E. 802.11b
Answer: A,B,E
Explanation:
If you check the website, cards for all three (A, B, G) are supported. See: http://www.stumbler.net/

NEW QUESTION: 3
Which two statements describe the purpose of RFC 1918? (Choose two.)
A. Establish a range of IP addresses that are dedicated to use on internal networks.
B. Establish a range of IP addresses to address the shrinking pool of globally routable addresses.
C. Establish a range of IP addresses that are dedicated to the growing use of peer-to-peer file-sharing applications.
D. Delay the transition to IPv6.
E. Establish a range of IP addresses that are dedicated to the growing use of multicast video.
Answer: A,B

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