When answering a question from an audience member, direct your answer directly to the person asking the question.
Answer the following statement true (T) or false (F)
False
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Which department or group accounted for the maximum percentage of fraud incidents according to the study conducted by ACFE in 2010?
a. sales b. accounting c. human resources d. top management
Because "present value" refers to the value of cash flows that occur at different points in time, a series of present values of cash flows should not be summed to determine the value of a capital budgeting project.
Answer the following statement true (T) or false (F)
The person to whom rights in a contract are assigned is the assignee.
Answer the following statement true (T) or false (F)
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $239,700 and 4,700 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $242,000 and actual direct labor-hours were 4,600. The applied manufacturing overhead for the year was closest to:
A. $236,854 B. $229,586 C. $234,600 D. $242,006