Which of the following is an important internal control over payroll?
A) separating the duties of the disbursement of paychecks from the recording of payroll transactions in the ledger
B) separating the duties of safeguarding property from record-keeping of property
C) separating the duties of approving invoices from signing disbursement checks
D) separating the duties of cash disbursement from bank reconciliations
A
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Assume you are using the dividend growth model to value stocks. If you expect the market rate of return to increase across the board on all equity securities, then you should also expect the:
A) market values of all stocks to increase. B) market values of all stocks to remain constant as the dividend growth will offset the increase in the market rate. C) market values of all stocks to decrease. D) stocks that do not pay dividends to decrease in price while the dividend-paying stocks maintain a constant price. E) dividend growth rates to increase to offset this change.
A CPA sole practitioner purchased stock in a client corporation and placed it in a trust as an educational fund for the CPA's minor child. The trust securities were not material to the CPA but were material to the child's personal net worth. Would the
independence of the CPA be considered to be impaired with respect to the client? A. Yes, because the stock would be considered a direct financial interest and, consequently, materiality is not a factor. B. Yes, because the stock would be considered an indirect financial interest that is material to the CPA's child. C. No, because the CPA would not be considered to have a direct financial interest in the client. D. No, because the CPA would not be considered to have a material indirect financial interest in the client.
James gets his energy from other people, likes the big picture, and completes work before moving on to the next project. His traits illustrate the _____ dimension of the Myers-Briggs framework
A) intraversion B) judging C) sensing D) thinking E) feeling
Organizational commitment refers to
a. the feelings people have toward their jobs. b. the emotional attachment people have toward the company they work for. c. an unwritten understanding about what the employee will bring to the work environment. d. the degree of emotional intelligence an employee exhibits.