Explain why supervision is so important in the receiving department
Receiving departments are sometimes hectic and cluttered exposing incoming inventories to theft until they are secured in the warehouse. Inadequate supervision can create an environment conducive to the theft of inventories in transit.
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A person may stop payment on a check:
A. as long as he or she is authorized to draw a check from the account in question. B. as long as he or she has sufficient funds to cover any liability an erroneous stop-payment order would incur. C. as long as he or she is authorized to draw a check from the account in question and he or she is the party who signed the check in question. D. after a month of the deposit of the check.
Operating system integrity is not of concern to accountants because only hardware risks are involved
Indicate whether the statement is true or false
Express warranties are always implied by law
Indicate whether the statement is true or false
The CEO of High Tech International decides to change an accounting method at the end of the
current year. The change results in reported profits increasing by 5%, but the company's cash flows are not changed. If capital markets are efficient, then A) the stock price will increase only if the accounting change will also result in higher profits in the next year. B) the stock price will not be affected by the accounting change. C) the stock price will decrease because accounting method changes are not permitted under generally accepted accounting principles. D) the stock price will increase due to higher profits.