Internal controls may be preventive or detective.Which of the following controls is preventive?
a. Requiring two persons to open mail containing payments.
b. Reconciling the accounts receivable subsidiary file with the control account.
c. Using batch totals.
d. Preparing bank reconciliations.
a
You might also like to view...
Juanita has the following three ratios: (1) debt service coverage = 2.5, (2) debt ratio = 0.5, and (3) liquidity ratio = 0.8. We can say that Juanita has
A) poor solvency and poor liquidity. B) strong solvency and strong liquidity. C) strong liquidity but poor solvency. D) strong solvency but poor liquidity.
When facing a situation involving culture, you will need to ask yourself different kind of questions to use the different views presented in this chapter. Can you state sample questions that are helpful to adopt positivist, interpretive, and critical views?
What will be an ideal response?
Major types of power can be grouped along two dimensions:
A. organizational and personal. B. professional and organizational. C. organizational and political. D. social and personal. E. inner and outer.
Chase Cutter has a marginal tax rate of 33 percent, a state income tax rate of 3.5 percent, and a city income tax rate of 0.5 percent
The tax for Social Security and Medicare is 7.65 percent. What would be the effective marginal tax rate on your last dollar of earnings? A) 33 percent B) 36.5 percent C) 39.6 percent D) 44.65 percent