Historically, the uptake of mobile banking has been very rapid
Indicate whether the statement is true or false
FALSE
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Which of the following situations represents a serious control weakness?
a. Timekeeping is independent of the payroll department. b. Paychecks are distributed by the employees immediate supervisor. c. Time cards are reconciled with job tickets. d. Personnel is responsible for updating employee records, including creation of records for new hires.
Carter Corporation has a target return of 15%. If a prospective investment has an estimated return on investment of 20%, and a residual income of $10,000, what is the estimated cost of the investment?
a. $200,000 b. $ 66,667 c. $ 50,000 d. The answer can't be determined from this information.
Under the perpetual inventory system, a physical count shows a $90.00 overage. How would the overage be entered into the journal and how would it be stated on the income statement?
a. Cost of Goods Sold would be debited $90.00 and Merchandise Inventory would be credited $90.00 with no effect of the overage being reported on the income statement. b. Inventory Short and Over would be debited $90.00 and Merchandise Inventory would be credited $90.00 and the overage would reported as an expense on the income statement. c. Merchandise Inventory would be debited $90.00 and Sales would be credited $90.00 with the revenue being reported on the income statement. d. Merchandise Inventory would be debited $90.00 and Inventory Short and Over would be credited $90.00 and the overage would be reported as other revenue on the income statement. e. Cash would be debited $90.00 and Accounts Receivable would be credited $90.00 and the overage would be reported as an expense on the income statement.
Explain the role that power, importance and fascination play in contemporary American law