The top management team can be defined as _______________?
a. Those who are the best-remunerated in the organization
b. Those who are the brightest in the organization
c. Those who set strategy, direction and purpose in the organization
d. The best-dressed people in the organization
c. Those who set strategy, direction and purpose in the organization
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The GASB provides three criteria for determining if a fiduciary relationship exists. Which of the following four is not one of the three criterion listed by the GASB?
A. The government does not receive any benefit from the assets in the fund. B. The assets related to the activity of the fund were not generated by the government's exchange or nonexchange revenues. C. The assets are controlled by the government. D. The government is not to be involved in administrative decision-making concerning the fund assets.
A bond is said to be in default if the borrower fails to make payment when due to lenders
Indicate whether the statement is true or false.
Internal control over accounts payable is improved when:
A. Informal bids are obtained. B. Vendor statements are reconciled with the accounts payable ledger. C. Annual trial balance of accounts payable subsidiary ledgers is required. D. Payment is made upon approval of the purchasing agent.
List and explain three capabilities of lean warehousing.
What will be an ideal response?