The first place a transaction is recorded is in the:
A. general ledger
B. source document
C. journal
D. trial balance
Answer: C
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According to a study sponsored by The Committee of Sponsoring Organizations (COSO), the most common way to manipulate revenue accounts is by:
a. reclassifying expenses as revenues. b. recording fictitious revenues. c. inappropriately reducing sales returns and allowances. d. prematurely recording revenue.
Business risk is the possibility of loss or injury that can reduce or eliminate an organization's ability to achieve its objectives
Indicate whether the statement is true or false
Which of the following would be grouped under the topic "economic factors" during organizational orientation programs?
A. The grievance procedures available B. The costs incurred on equipment C. The tax shelter options provided D. The procedure used to reimburse job expenses
If, for some reason, the project must be expedited to meet an earlier date, which of the following actions would the project manager take first?
A. Check to see which activities cost the least B. Check to see which activities are on the critical path C. Check to see which activities have the longest duration D. Check to see which activities have the highest risk E. Check to see which activities have the most slack