The balance of the account can be determined by adding all of the debits, adding all of the credits, and adding the amounts together
Indicate whether the statement is true or false
False
You might also like to view...
While auditing the financial statements of Forble Corp. (which are to be included in a Securities Act registration statement), Ernie, a certified public accountant, fails to review any of Forble's journal entries, does not read the details of meetings of the board of directors, and does not even speak with the comptroller of Forble. Consequently, Ernie does not discover that substantial loans, which went unmentioned in the financial statements, had been made to Forble officers. As a result, the registration statement omits any mention of the loans. Assuming the omitted fact is a material one and that Ernie is not an officer or director of Forble, does Ernie face potential liability under Section 11 of the Securities Act of 1933? Discuss the reasons for your answer.
What will be an ideal response?
A standard cost sheet:
a. is not needed in computerized manufacturing. b. provides production data to calculate unit cost. c. is used to evaluate managers. d. indicates the hourly wages for labor. e. None of the answers are correct.
What would limit the effectiveness of performance based pay?
a) Link it to the strategy of the organization b) Ensure its consistency c) Failure to tailor rewards to the situation d) Use it to motivate employees
Which of the following is most likely a benefit of keeping a journal?
A. documenting ideas for future speeches B. providing information for key followers C. considering actions in a subjective way D. quantifying important strategic decisions