Contracts for the provision of personal services are generally not assignable
Indicate whether the statement is true or false
TRUE
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Which of the following is an appropriate internal control activity for cash?
a. The amount of cash on hand should be kept to a maximum. b. All payments should be made with currency, not checks. c. Banking facilities should be used as little as possible. d. Recordkeeping and custodianship over cash should be performed by separate individuals.
Non-financial performance measures (NFPMs) are better than financial measures in that NFPMs
a. provide a better indication of customer satisfaction. b. may better predict the direction of future cash flows. c. directly measure how well an organization does those things that create shareholder value. d. all of the above
Tim has been approached by Kent regarding the payment of Tim's credit card bill. Kent says he is acting on behalf of the bank to get assurance that Tim will pay the bill within a specific period of time
Kent is an outside agent who is not an employee of the bank. Which of the following legislations has the bank violated by contracting Kent to contact Tim? A) Fair Credit Reporting Act B) Fair and Accurate Credit Transactions Act C) Fair Credit and Charge Card Disclosure Act D) Fair Debt Collection Practices Act
Profit margin is calculated by dividing net sales by net income.
Answer the following statement true (T) or false (F)