Tasmia signed a check payable to the order of Shubha. The check contained an obvious variance between the numbers and the written words. The numbers indicated that the bank should pay $13,000 to the order of Shubha, but the written words indicated the bank should pay "the sum of thirteen hundred dollars." Under these circumstances what amount, if any, should the bank pay to the order of Shubha?
A. $13,000
B. $6,500
C. $1,300
D. $650
Answer: C
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Internal control is a process designed to provide absolute assurance regarding achieving objectives in which of the following?
A. efficiency and effectiveness of operations B. reliability of reporting C. compliance with applicable laws and regulations D. none of the choices are correct
Internal controls, an internal audit function, and an audit committee are all elements of a strong corporate governance system. How should an external auditor evaluate these elements in making a risk assessment? What are the ethical signs that each system is operating as intended?
What will be an ideal response?
Dependent demand does not occur in the service business
Indicate whether the statement is true or false
Pairs that most accurate for the cost volume analysis
a) direct cost and indirect cost b) fixed cost and variable cost c) product cost and period cost d) standard cost and operation cost e) sunk cost and incremental cost