With a limited work force and a desire to maintain strong internal control, which combination of duties performed by a single individual presents the least risk exposure?
a. maintaining the inventory ledger and recording the inventory journal voucher in the general ledger
b. recording the inventory journal voucher in the general ledger and maintaining custody of inventory
c. maintaining the cash disbursements journal and recording direct labor costs applied to specific jobs
d. preparing the accounts payable journal voucher and recording it in the general ledger
C
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The term "LIFO" relates to the merchandise in inventory at the end of the accounting period, not to the merchandise sold during the period
a. True b. False Indicate whether the statement is true or false
________ is a display technique in which large quantities of merchandise are displayed together.
A. Price lining B. Merchandise highlighting C. Tonnage merchandising D. Style/item presentation E. Frontal presentation
For the FOIA exemption regarding national defense and/or foreign policy to apply:
a. Congress must specifically refer to the document or information in a statute b. the president must issue an executive order c. the document or information must be covered under the Privacy Act also d. the president must review the document or information and authorize an exemption bysigned letter to the agency in possession of the document or information
In hypothesis testing, if the null hypothesis has been rejected when the alternative hypothesis has been true,
A. a Type I error has been committed. B. a Type II error has been committed. C. either a Type I or a Type II error has been committed. D. the correct decision has been made.