Which of the following is an example of examining nonfinancial data to detect fraud?
a. noting an increase in billing charges per customer
b. comparing the dates of sales to shipment dates
c. comparing line item current expenses to prior
d. calculating the percent increase in inventory amounts
b
FEEDBACK: a. Incorrect
b. Correct
c. Incorrect
d. Incorrect
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One characteristic of incremental budgeting is that it
A. allows comparison using various units, like labor hours and dollars. B. is flexible toward changing environmental demands. C. allows easy comparison of different departments doing different activities. D. locks managers into stable spending arrangements. E. requires more time from managers than zero-based budgeting.
For the year ended December 31, a company had revenues of $187,000 and expenses of $109,000. The owner withdrew $37,000 during the year. Which of the following entries could not be a closing entry?
A. Debit Income Summary $109,000, credit expenses $109,000. B. Debit Income Summary $187,000; credit revenues $187,000. C. Debit Owner's Capital $37,000; credit Owner Withdrawals $37,000. D. Debit revenues $187,000; credit Income Summary $187,000. E. Debit Income Summary $78,000; credit Owner's, Capital $78,000.
Which of the following is not a source of secondary data?
A) interviews concerning the problem at hand B) company records of personnel data C) books, brochures, pamphlets, and technical reports D) Internet resources E) scholarly journals and business magazines
If the yen is selling at a premium relative to the euro in the forward market, is the forward price of EUR per JPY larger or smaller than the spot price of EUR per JPY?
What will be an ideal response?