Which of the FTC's Fair Information Practices (FIP) principles requires identification of the collector of data?
A) Notice/Awareness
B) Choice/Consent
C) Access/Participation
D) Security
A
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Recording estimated product warranty expense in the year of the sale best follows which of the following accounting principles?
a. Matching b. Consistency c. Historical cost d. Full disclosure
Which type of leadership is most similar to transformational leadership?
A. transitional B. laissez-faire C. transactional D. charismatic
Which of the following is an example of fraudulent financial reporting?
A. An employee steals inventory and the "shrinkage" is recorded in cost of goods sold. B. An employee diverts customer payments to his personal use, concealing his actions by debiting an expense account, thus overstating expenses. C. An employee "borrows" tools from the company and neglects to return them; the cost is reported as a miscellaneous operating expense. D. Company management falsifies inventory count tags thereby overstating ending inventory and understating cost of goods sold.
Rulemaking—the formulation of new administrative regulations—is a major function of Congress, not administrative agencies
a. True b. False Indicate whether the statement is true or false