Forces which may permit fraud to occur do not include
a. a gambling addiction
b. lack of segregation of duties
c. centralized decision making environment
d. questionable integrity of employees
C
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Francis is a European American and is meeting his Chinese American classmates for the first time at the International School. Which of the following is most likely the case when it comes to Francis initiating and engaging in conversations with others when compared to students who are Chinese Americans?
A. The Chinese American students would be much more likely to initiate and engage in conversations. B. Francis would be much less likely to initiate and engage in conversations. C. There would be no difference between Francis and the Chinese American students. D. Francis would be much more likely to initiate and engage in conversations.
The auditor is most likely to verify accrued commissions payable in conjunction with the:
A. verification of employees. B. examination of trade accounts payable. C. sales cutoff review. D. review of post balance sheet date disbursements.
On January 1, 2014, New Country issued $200,000 of ten-year 8% bonds at 98. These bonds were callable at 102 at any time after three years. Straight-line amortization was used. On January 1, 2018, a new bond issue was sold and the old bonds were called. What was the loss on bond retirement?
A) $2,000 B) $4,400 C) $6,400 D) $8,000
A discount that buyers take for early payment of merchandise is called a
A) customer discount. B) purchases discount. C) sales discount. D) trade discount.