Deposits in commercial banks that are members of the FDIC, are insured up to a maximum of $50,000 per account
Indicate whether the statement is true or false.
Answer: FALSE
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Which one of the following procedures is incorrect for setting up and maintaining a petty cash fund?
a. A check is prepared for a fixed amount; when the check is cashed, the money is entrusted to a petty cash custodian. b. An entry is recorded to establish the fund and obtain the cash. c. When appropriate documentation is presented, cash payments are made from the fund; the petty cash custodian retains the documentation. d. When the petty cash fund is replenished, an entry is recorded to recognize an increase in the petty cash account.
One way to determine the duration of each activity in a project with a reasonable degree of accuracy is ______.
A. deterministic estimation B. qualitative estimation C. optimistic estimation D. pessimistic estimation
What are the advantages and disadvantages of decentralization within an organization?
The idea that a measurement should correspond with the phenomenon it is attempting to measure is referred to in the conceptual framework as:
a. reliability. b. relevance. c. faithful representation. d. understandability.