Which internal control procedure is followed when management authorizes the purchasing department to order goods and services for the company?
a. Segregation of duties
b. Safeguarding of assets and records
c. Independent verifications
d. Proper authorizations
d
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The audit working papers belong to:
A. The government. B. The audit firm. C. They are public record documents. D. The company under audit.
The Duke LaCrosse players:
a. Were ultimately found guilty of some criminal charges. b. Were exonerated by the North Carolina attorney general. c. Had their charges dropped by Michael Nifong. d. None of the above
Leticia is twenty-two years old and she has all of her savings in a Certificate of Deposit (CD) at the bank that currently pays an annual 1.5 percent yield. The account is protected by the FDIC so it is virtually risk free
She hopes to use her savings for a down payment on a new house in ten years. Inflation in house prices in her area has averaged 4 percent per year. What financial principle does she need to pay better attention to? A) Nothing happens without a plan. B) Waste not, want not, smart spending matters. C) Risk and return go hand in hand. D) All of the above are correct.
Stocks whose prices are expected to remain stable, or even prosper, when economic activity is slowing down are known as
A) defensive stocks. B) cyclical stocks. C) growth stocks. D) speculative stocks.