Teresa is suing her accountant for fraud. To win, Teresa must show that she justifiably relied on the accountant's fraudulent statement

Indicate whether the statement is true or false


True

Business

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Maryland Vacations has a $2,200 account receivable from the Miami Kiwanis. On March 11, the Kiwanis makes a partial payment of $1,050 to Maryland. The journal entry made on March 11 by Maryland to record this transaction includes:

a. A debit to the Cash account of $1,150. b. A debit to the Accounts Receivable account of $1,150. c. A credit to the Service Revenue account of $1,050. d. A credit to the Accounts Receivable account of $1,050.

Business

A key modifying assumption in internal control is that the internal control system is the responsibility of management

Indicate whether the statement is true or false

Business

A chief marketing officer is more likely to be in charge of strategic planning than functional planning

Indicate whether the statement is true or false

Business

Standard costs are realistically predetermined costs of direct materials, direct labor, and overhead that usually are expressed as a cost per unit

Indicate whether the statement is true or false

Business