The finance department performs the function of selling goods or services.
Answer the following statement true (T) or false (F)
False
The sales department performs the function of selling goods or services.
You might also like to view...
In testing plant and equipment balances, an auditor may inspect new additions listed on the analysis of plant and equipment. This procedure is designed to obtain evidence concerning management's assertion(s) about:
A. existence. B. presentation. C. both (1) presentation and (2) existence. D. neither (1) presentation nor (2) existence.
Segregation of duties is an example of a COSO control activity.
Answer the following statement true (T) or false (F)
Working capital may be tied to certain debt covenants causing cash to be considered significant for audit purposes
a. True b. False Indicate whether the statement is true or false
Why are customers often considered the most important sources of new product ideas?
A) Customers are close to the market and can pass along information about problems and new product possibilities. B) The company can analyze customer questions and complaints to find new products that better solve consumer problems. C) Customers buy competing new products, take them apart to see how they work, analyze sales, and then decide to purchase. D) Customers review the sales, costs, and profit projections for a new product to find out whether the product satisfies the company's objectives. E) Customers estimate the minimum and maximum sales to assess the range of risk.