Which document is least important in determining the financial value of a purchase?
a. purchase requisition
b. purchase order
c. receiving report
d. supplier's invoice
A
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A financial statement audit must be conducted based on GAAP.
Answer the following statement true (T) or false (F)
While observing an entity's annual physical inventory, an auditor recorded test counts for several items and noticed that certain test counts were higher than the recorded quantities in the entity's perpetual records. This situation could be the result of the entity's failure to record:
A. sales returns. B. purchase returns. C. purchase discounts. D. sales.
Answer the following statements true (T) or false (F)
1. People in closed-culture organizations respond better to customer needs. 2. Folkways are the habitual ways in which organizational members act or think, without reflecting on them. 3. Leaders in successful hospitality organizations stress a difference between top management and line-level employees and do not provide easy two-way communications. 4. Only walking around allows hospitality managers to see whether the quality of guest experiences is up to standard.
The practice of comparing the company's achievements against the best practices in the industry is known as ________.
A) segmentation B) goal congruence C) performance evaluation D) benchmarking