Which of the following statements is true of the formation of a partnership?
A. Working out the details of a partnership agreement is always a simple process.
B. Forming a partnership requires issuance of fresh stock to the public.
C. Partnerships are created by filing a document called the articles of organization.
D. Partnerships can be established based on a simple verbal agreement.
Answer: D
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For payment voucher input validity, which control plan uses records in the AP master data to give authorization to the cash disbursements computer program to make a payment?
a. independent validation of vendor invoices b. match invoice, purchase order, and receiving report c. independent authorization to make payment d. reconcile input and output batch totals
In office LANs, one computer is often used as a central repository of programs and files that all connected computers can use; this computer is called a(n) _____.
Fill in the blank(s) with the appropriate word(s).
Answer the following statements true (T) or false (F)
1. Because of rapid changes in the finance field, positions in that area within hospitality organizations are apt to be filled from the outside. 2. Many young people avoid the hospitality industry because they think most jobs are suitable only for “burger flippers.” 3. A police or background check is particularly important in the hospitality industry because so many employees are dealing directly with guests. 4. A possible reason for not hiring from within is that current employees know the culture too well.
A customer is injured using a company's product. The potential liability that may result is called a(n)
a. contingent liability. b. estimated liability. c. definitely determinable liability. d. estimated warranty liability.