1.
The purpose of an audit is to gather and evaluate evidence in order to form an opinion on the ....... of a company's financial statements.
2.
The audit ....... is usually no more than a page in length and is attached to the financial statements.
3.
Auditors are not responsible for the ....... of the financial statements of an company.
4.
In the financial statements, the company implicitly states that all items, account balances and transactions are
....... valid, complete and accurate.
5.
An error in ....... is committed when the financial statements include an item that should not be included.
6.
An error in ....... is committed when the financial statements do not include an item which should be included.
7.
An error in ....... is committed when the financial statements include incorrect information about an item that should be included.
8.
One of the principal goals of the auditor is to add ....... to this assertion.
9.
Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements
are significantly ........
10.
In addition to the financial statements, the auditor also examines the company's internal ....... procedures for
effectiveness.
11.
LeaseGuide.com author Al Hearn explains that automobile leasing is based entirely on the ....... that you pay for the amount by which a vehicle's value depreciates during the time you're driving it.
12.
Depreciation is the difference between a vehicle's original value and its value at lease-end (....... value), and is the primary factor that determines the cost of leasing.
13.
Generally, European and Japanese automobile ....... have lower depreciation than American brands.
14.
Manufacturer's ....... Retail Price (MSRP) is the full price for a vehicle as displayed on its window sticker, including optional packages and destination charges.
15.
When you and your dealer sit down and agree on a lease price for a car, this becomes the ....... cost, or "cap cost".
16.
Cap cost can be reduced by rebates, factory-to-dealer incentives, trade-in credit, or a cash ....... payment; these are known as cap cost reductions.
17.
When you lease, you're ....... the leasing company's money while you're driving their car and they rightfully expect you to pay interest on that money, the same as with a loan.
18.
This interest is expressed as a money factor, sometimes called lease factor, and is specified as a small ....... number such as.00297.
19.
A good rule of .......: Lease money factors, converted to an annual interest rate, should be comparable to, if not lower than local new-car loan interest rates.
20.
However, you may not qualify for great money factors unless if you have ....... credit rating.
