The Report of Management in Brighton Company's annual report states, "Management has established a system of internal controls to provide reasonable assurance that assets are maintained and accounted for in accordance with its policies and that transactions are recorded accurately on the company's books and records." Name five control activities Townsgate could and probably does implement
Any of the following control activities would be used by Brighton's management:
a. Authorization of transactions and activities
b. Recording of all transactions
c. Design and use of adequate documents
d. Permit access to assets only with management's authorization
e. Record must be checked against the assets by some other responsible person
f. Separation of functional duties
g. Sound personnel procedures must be followed
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A) at the beginning of the accounting period B) at the end of the accounting period C) when revenue is realized (or realizable) D) anytime we need to adjust an account
Goods that have been started in the manufacturing process but are not yet complete are included in the ________.
A) Finished Goods Inventory account B) Work-in-Process Inventory account C) Raw Materials Inventory account D) Cost of Goods Sold account
Answer the following statements true (T) or false (F)
1. Some hotels actually offer an unconditional 100 percent satisfaction guarantee. 2. A good service guarantee does not have to be easy to use if it is truly focused on the guest’s needs. 3. Employers should improvise questions when asking guests about their experience because guests are always motivated to tell the whole truth. 4. Servers should be given the comment cards that have negative comments about their performance.
Faxes are often used when _____________ is an issue
a. security b. filing c. accessibility d. economy