Which internal control procedure is followed when a physical count of inventory is performed in a perpetual inventory system?
a. Segregation of duties
b. Safeguarding assets and records
c. Independent verifications
d. Proper authorizations
c
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Using the nibble as a hardball tactic means pretending a low-priority item is important in order to trade it for a concession on another item.
Answer the following statement true (T) or false (F)
When analyzing short-term business decisions, what are two important factors?
A) focus on costs that do not change under two alternatives and on historic costs B) focus on qualitative data only and ignore future cash flows C) focus on sunk costs and quantitative data D) focus on relevant costs and use the contribution margin approach
Twyla buys a Voracious-brand bicycle from U-Pik-It Bike Store, which agrees to keep the bike for Twyla until she picks it up. Before Twyla gets the bike, a fire destroys the store and the bike. The loss of the bike is suffered by
A. no one. B. Voracious. C. Twyla. D. U-Pik-It.
What actions did the Stevens-Henager employees take prior to leaving for their new jobs at Eagle Gate College?
a. Copied documents to take with them to a competing college b. Copied marketing plans to take with them to a competing college c. Sabotaged Stevens-Henager's leads list d. Both a and c