Describe internal control procedures that would (1) detect that a vendor overcharged for goods delivered, (2) prevent payment for an invoice for goods that were never delivered and (3) prevent issuing two checks in payment of the same invoice
(1) Accounts payable should compare the price on the purchase order to the price on the supplier's invoice. Accounts payable should recalculate the math (extensions and additions) and check all other charges such as freight, tax, etc.
(2) Accounts payable should match every item on every invoice to a receiving report.
(3) The supporting documents should be marked "paid" after the check is signed. A computerized system will tag the invoice number as paid.
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Answer the following statements true (T) or false (F)
Workplace governance issues are generally very important to workers but have little effect on their spouses, dependents, and community. Individual evaluations of unions as "good" or "bad" are heavily influenced by the underlying assumptions one makes about the nature of markets and employment. In an economic system of laissez faire, workplace rules will favor management when labor demand is high and labor supply is low. In the human resource management school, workplace governance is believed to belong exclusively to management. Worker input is only important to the extent that an employer chooses to allow it. Employee stock ownership plans are an example of worker control as envisioned by a socialist perspective.
Opportunistic buying is most commonly utilized by _____
a. full-line discount houses b. off-price retailers c. supermarkets d. specialty stores
In linear programming, a statement such as "maximize contribution" becomes an objective function when the problem is formulated
Indicate whether the statement is true or false
The ________ is an expression in linear programming models that states mathematically what is being maximized or minimized
Fill in the blanks with correct word