A team composed of people from different departments who are pursuing a common objective is called a _____. For example, ToysRUs may bring together employees from manufacturing, design, sales, marketing, and market research to brainstorm new board games for adults.
A. quality circle
B. problem-solving team
C. virtual team
D. cross-functional team
E. workforce
D. cross-functional team
On a cross-functional team, members are composed of people from different departments, such as sales and production, all of whom are pursuing a common objective.
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PCAOB Auditing Standard 5 does not identify which of the following situations as one in which the auditor will modify the audit report on ICFR effectiveness?
a. When there is a restriction on the scope of the engagement. b. When there is other information contained in management's annual report on ICFR. c. When elements of management's annual report on internal control are incomplete or improperly presented. d. When the annual report includes a copy of the annual certification pursuant to Section 302 of the Sarbanes-Oxley Act.
The term "cash flows" refers to changes in
a. cash, only. b. cash and cash equivalents. c. working capital. d. cash and marketable securities. e. funds.
Last year Lawn Corporation reported sales of $115,000 on its income statement. During the year, accounts receivable decreased by $10,000 and accounts payable increased by $15,000. The company uses the direct method to determine the net cash provided by (used in) operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis for the year would be:
A. $100,000 B. $140,000 C. $90,000 D. $125,000