Economic extortion
a. involves giving, offering, soliciting, or receiving things of value to influence an official in the performance of his or her lawful duties
b. occurs when an employee acts of behalf of a third party during the discharge or his or her duties
c. is the use of threat of force by an individual or organization to obtain something of value
d. involves stealing cash from an organization before it is recorded in its books and records
C
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Indicate whether the statement is true or false
Which of the following reasons should not be considered in order to explain why the receivables appear to be abnormally high?
a. Sales volume expanded materially late in the year. b. Receivables have collectibility problems and possibly some should have been written off. c. The company seasonally dates invoices. d. Material amount of receivables are on the installment basis. e. Sales volume decreases materially late in the year.
Basic bank services do not include:
A. Petty cash management. B. Electronic funds transfer. C. Bank accounts. D. Checking. E. Bank deposits.
Isabel obtains a fire insurance policy on her home from Justice Insurance Company. The home is lost in a fire, but the parties dispute the amount of Justice's liability under an ambiguous clause in the policy. A court would most likely
A. interpret the clause against Isabel. B. interpret the clause against Justice. C. rewrite the clause and apply it as rewritten. D. strike the clause from the policy.