Explain two types of coding schemes and give examples of their use
Sequential codes represent items in some sequential order. Pre-numbered checks are one example.
Block codes use sequential numbering in specific parts of the total code–all current assets begin with ‘1,' fixed asset ‘2,' etc. Traditional charts of accounts use block codes and start assets with 1, liabilities with 2, etc.
Alphabetic codes are similar to numeric codes with increased options. A two character code AA has potential for 676 items (26 x 26) whereas a two digit code can accommodate only 100 (10 x 10).
Mnemonic codes use letters with meaning. The postal state abbreviations are mnemonic.
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An HRM audit is a formal review of the outcomes of HRM functions.
Answer the following statement true (T) or false (F)
When writing a report, information that is known to most people is considered to be _____
A) paraphrasing B) opinion C) common knowledge D) speculation E) statistics
Carolyn, a cashier at Tops Supermarkets, may cash checks for up to $20 over a purchase amount. A friend needs money for a dress so Carolyn cashes a check for $50 with no purchase. The check bounces. Carolyn is:
a. liable because she violated her duty of obedience. b. liable because she breached her duty to inform. c. not liable since she has apparent authority to take the check. d. not liable unless she knew her friend did not have the money in the bank.
A share of preferred stock that pays the same annual dividend forever is an example of a
perpetuity. Indicate whether the statement is true or false