Which one of the following is not a fundamental internal control the auditor would expect to find in place for a cash processing system?
a. Segregation of duties
b. Electronic payments
c. Authorization of transactions
d. Periodic internal audits
b
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Define forced ranking. What are its benefits and drawbacks?
What will be an ideal response?
If property is mislaid by its owner, ________.
A. the first person who thereafter takes possession of it with the intent of claiming ownership becomes its owner B. the finder acquires no rights to the property C. the finder can be held guilty of conversion and must pay the owner the fair value of the property D. the finder of the property has the right to hold the property for the rightful owner
According to your textbook, why should managers pay specific attention to the organization’s occupational health and safety (OHS) policies and practices?
a. Because managers can be held criminally liable for OHS violations, especially if an employee, client, visitor, or customer is killed b. Because the aim of OHS legislation is to prevent death and disability at work c. Because OHS sets out the company’s policies on workplace health and safety (such as compensation, sick leave, etc.) d. All of the above
Robert, an automobile engineer, detects a strange noise emanating from the engine of his car. As he is an expert mechanic, he diagnosed that the car required a new fan belt. Which of the following stages of the consumer decision-making process is represented in this scenario?
A. purchase decision B. alternative evaluation C. postpurchase evaluation D. external search E. problem recognition