Organizations that support the social aspects of creativity do all of the following EXCEPT they:
a. allow the open expression of ideas.
b. encourage risk taking.
c. encourage competition.
d. reflect confidence in employees.
c. encourage competition.
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How may an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate segregation of functions and authorization controls were not in place?
Discuss how small businesses and not-for-profit organizations can obtain market insights economically
What will be an ideal response?
Under the provisions of the Sarbanes-Oxley Act, auditors must do which of the following?
A. Be hired by company management. B. Provide nonaudit services for their clients. C. Maintain working papers for at least seven years following an audit. D. Audit public companies whose chief executives worked for the audit firm in the preceding year.
Eastline Corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,000 shares. At the time of the stock dividend, the market value per share was $12. The entry to record this dividend is:
A. Debit Retained Earnings $36,000; credit Common Stock Dividend Distributable $36,000. B. Debit Retained Earnings $36,000; credit Common Stock Dividend Distributable $30,000; credit Paid-In Capital in Excess of Par Value, Common Stock $6,000. C. Debit Retained Earnings $30,000; credit Common Stock Dividend Distributable $30,000. D. Debit Common Stock Dividend Distributable $36,000; credit Retained Earnings $36,000. E. No entry is needed.