In a properly designed internal control system, the same employee may be permitted to:
A. approve vouchers for payment and also sign checks.
B. receive and deposit checks and also approve write-offs of customer accounts.
C. reconcile the bank statements and also receive and deposit cash.
D. sign checks and also cancel supporting documents.
Answer: D
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Which of the following events would not result in a cash inflow?
A) sale of preferred convertible stock B) common stock issued as a stock dividend C) reissuance of treasury stock D) loss of building destroyed by hurricane but partially reimbursed by insurance
Bleeker Street Company produces and sells two lines of business suits, the Contemporary and the Traditionalist. The following monthly data are provided: Contemporary TraditionalistEstimated unit sales per month 500 1,000 Selling price$200 $175 Variable manufacturing costs 110 100 Variable selling and administrative costs 10 10 Budgeted net income is $45,000 per month. Required:1) Calculate the monthly break-even sales in units and dollars based on the budgeted sales mix.2) Calculate the firm's overall margin of safety in dollars.3) Compute the firm's profit assuming 1,500 units are sold in a 1:1 sales mix.4) Explain any difference between the firm's budgeted net income of $35,000 and your answer to Requirement 3.
What will be an ideal response?
Which of these is a type of artifact in an organization?
a. symbolic b. artificial d. jargon d. displaced
Which statement below is not a reason for a corporation to buy back its own stock
A) resale to employees B) bonus to employees C) for supporting the market price of the stock D) to increase the shares outstanding