The auto accident claims business process for the national insurance company met RIM requirements in which of the following ways?
a. Retention schedules are established based upon legal and regulatory requirements.
b. Metadata and classification is assigned when claim records are created.
c. Exceptions to the retention schedules are made for legal holds and litigation.
d. All of the above
d
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It is acceptable to record cash received in advance of providing products or services to revenue accounts if an adjusting entry is made at the end of the period to bring the liability account balance to the correct unearned amount.
Answer the following statement true (T) or false (F)
Expenses that are easily traced and assigned to a specific department because they are incurred for the sole benefit of that department are called:
A. Uncontrollable expenses. B. Indirect expenses. C. Controllable expenses. D. Direct expenses. E. Fixed expenses.
Warnock Inc. is considering a project that has the following cash flow and WACC data. What is the project's NPV? Note that a project's projected NPV can be negative, in which case it will be rejected. WACC: 10.00% Year 0 1 2 3 Cash flows -$1,050 $500 $400 $300
A. -$47.38 B. -$39.09 C. -$29.61 D. -$40.27 E. -$39.48
Cralic Company has 12 employees and operates in Texas. The Form 940 for the previous year contained the following information:
What amount should be entered on line 5? (Assume that all employees had exceeded the FUTA wage base.)
A) $84,000.00
B) $1,535.91
C) $159,440.75
D) $1,031.91