Why did Daniel Defoe believe it was so important to post all credit purchases and payments on account to the ledger as soon as possible after recording them in the journal?
a. Because it was required by law
b. So that a dishonest customer didn't attempt to pay less than he owed
c. So that an honest customer wasn't asked to pay more than he owed
d. So that it was possible to cast up shop
b
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Chester is renting an apartment, and he has a problem. All night he hears the scurrying of rodents, and each morning he finds cereal boxes and other cardboard food containers gnawed. He has also noticed droppings all over the apartment, including in the children's nursery. He has complained to the landlord, who simply replies, "Hey, this is center city-everybody has a rat problem." The landlord is breaching Chester's right to
A. continuous control. B. quiet enjoyment. C. possession. D. habitability.
Compensating balance agreements are held against short-term borrowings should
A) only be described in the footnotes to the financial statements. B) be separately reported in the current assets portion of the balance sheet. C) be separately classified as noncurrent assets on the balance sheet . D) not be shown on the balance sheet.
What is the name usually given to the rules, values and norms through which governance occurs?
a. Code of control b. Code of corporate citizenship c. The Koranic code d. Code of ethics
Vaughn Services hires a new accountant to maintain its petty cash fund. Although the employee possesses an accounting degree, he/she had been previously convicted of embezzlement
Which internal control procedure needs to be addressed in the above situation? A) assignment of responsibilities B) competent, reliable, and ethical personnel C) separation of duties D) documents