Explain the use of purchase orders as a measure of internal control.
What will be an ideal response?
Four elements of internal controls are: a) protect assets, b) ensure reliable accounting, c) promote efficient operations, and d) urge adherence to company policies. The use of purchase orders addresses all four of these in some way: although the physical safeguard of assets is not specifically addressed, the ordering of goods will lead to the protecting of these assets, a purchase order adds one level of review and approval to the purchasing process, preventing the purchase of unauthorized or unnecessary goods. It promotes efficient operations by having the documentation that goods needed are already ordered, and also that the company’s accounting procedures are being followed.
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Which of the following are true of NGOs?
A) NGOs made available lower-cost drugs in developing countries B) NGOs generate ideas, knowledge, and solutions C) NGOs facilitated the preparation of the agreements on global warming D) NGOs can confer legitimacy when governments cannot act alone E) All of the above are true of NGOs
Data mining normally involves building profiles of consumer groups and preparing models that predict future purchase behaviors
Indicate whether the statement is true or false
QFV International has a goal to lower the cost of employee benefits. Its human resource department compares the costs of its benefits with averages published by the Bureau of Labor Statistics, the U.S. Chamber of Commerce, and other sources. The investigation shows that its cost for workers' compensation insurance is high relative to other companies. Which action could best help QFV International accomplish its goal?
A. replace the workers' compensation insurance with disability insurance B. shop for a better deal on workers' compensation insurance C. improve safety to lower the company's experience rating D. cancel the workers' compensation insurance E. accept the high cost and look for other areas in which to reduce spending
One way to discover intangible factors influencing the other party's behavior is to look for visible evidence to explain their behavior, such as having a new boss. What are two other ways of discovering the other party's intangible factors?
What will be an ideal response?