Which of the following statements about accounting systems is incorrect?
a. An effective accounting system provides an audit trail that allows frauds to be discovered.
b. An effective accounting system makes concealment difficult.
c. An effective accounting system can effectively prevent "kickbacks."
d. Without a good accounting system, it is often difficult to distinguish between actual fraud and unintentional error.
c
FEEDBACK: a. Incorrect. This statement is true.
b. Incorrect. This statement is true.
c. Correct.
d. Incorrect. This statement is true. A good accounting system ensures that recorded transactions are valid, properly authorized, complete, properly classified, reported in the proper period, properly valued, and summarized correctly.
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Employees who work from their homes or satellite locations are considered to be telecommuting.
Answer the following statement true (T) or false (F)
Considering what you have learned about writing style and writing lapses, which sentence demonstrates the best overall construction?
a. Since I have learned how to modify my writing style—a skill I didn't know could be developed—I have been able to write every report effectively. b. Having learned how to modify my writing style, my reports have improved. c. Having learned how to modify my writing style, I now write with greater confidence. d. Learning to modify my writing style, has increased my confidence.
A radar detector:
a. If purchased legally, is not an unethical device. b. If used only in those states in which they are permitted is an ethical device. c. Is a legal and ethical tool for circumventing speed limits. d. None of the above
Cybil Baunt just inherited a 1958 Chevy Impala from her late Aunt Joop. Aunt Joop purchased the car 40 years ago for $8,000. Cybil is either going to sell the car for $10,000 or have it restored and then sell it for $22,000. The restoration will cost $9,000. Cybil would be financially better off by:
A. $9,000 to have the vehicle restored B. $6,000 to have the vehicle restored C. $11,000 to have the vehicle restored D. $3,000 to have the vehicle restored