Formal communication can control behavior, but informal communication cannot.
Answer the following statement true (T) or false (F)
False
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An unfavorable flexible budget variance in operating income might be due to a(n) ________.
A) increase in sales price per unit B) decrease in sales volume C) increase in variable cost per unit D) decrease in fixed costs
Forever Yours, Inc has a secured and perfected security interest in Sally's big-screen TV. On the filing date of Sally's Chapter 7 petition, the balance of the debt owed to Forever Yours is $2,000 . The value of the TV is estimated at $1,500 . This means that Forever Yours:
a. is secured for the entire debt, $2,000. b. is unsecured for $500, the excess of the debt over the value of the TV. c. has a high priority claim of $500 . This means that Forever Yours, Inc. will be allowed $500 worth of other unsecured property before other unsecured creditors get anything. d. is unsecured for the entire debt.
The type of business organization formed most easily is the
a. limited liability company. b. sole proprietorship. c. limited partnership. d. partnership.
The documentation of an auditor's understanding of internal controls
A. Is optional. B. Must be exclusively in either narrative, questionnaires, or flowchart form. C. Must include flowcharts. D. Can include any combination of narratives, questionnaires, or flowcharts.