Which of the following is not one of the steps in reading a business plan?
a. establishment of the unique feature in this venture
b. reading of the latest balance sheet
c. thorough reading of each section
d. brief review of the history of the company
ANSWER: c
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City Advertising Services hired a new accounting manager. He signed a contract for a new accounting information system, but his position did not specify whether he was authorized to do so or not. Which internal control procedure needs strengthening?
A) assignment of responsibilities B) competent, reliable, and ethical personnel C) separation of duties D) documents
What are the third, fourth, and fifth jobs in a critical ratio sequence?
Job Process Time Due Date Job 1 15 23 Job 2 7 15 Job 3 12 34 Job 4 8 16 Job 5 11 27 Job 6 10 19 Job 7 13 28 A) Job 6, Job 5, Job 2 B) Job 2, Job 5, Job 7 C) Job 6, Job 4, Job 7 D) Job 4, Job 2, Job 7
Variance is a measure of the variability of returns, and since it involves squaring the deviation of each actual return from the expected return, it is always larger than its square root, the standard deviation.
Answer the following statement true (T) or false (F)
Assuming that the Proprietary Theory was applied, what would be the amount of Goodwill appearing on the Consolidated Balance Sheet on the date of acquisition, assuming that Parent purchased 80% of Sub Inc. for $180,000 on August 1, 2018?
A) $72,000 B) Nil C) $88,000 D) Cannot be determined from the information given.