Which of the following activities would be recorded by a trust fund?
A. Assets passed-through the state government to the local government.
B. Assets held for special assessment bondholders for which the city has no liability.
C. Deposits held for customers of a city-owned electric utility.
D. Assets that are used to assist in the preservation of a private residence.
Answer: D
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The most effective internal control procedure to prevent or detect the creation of fictitious credit memoranda for sales returns is to
a. supervise the accounts receivable department b. limit access to credit memoranda c. prenumber and sequence check all credit memoranda d. require management approval for all credit memoranda
Which of the following statements about the "readiness" of an employee is not true?
a. It is characterized by the employee's skills and abilities. b. It is characterized by the employee's tenure in the organization. c. It is characterized by the employee's commitment. d. It is characterized by the employee's motivation.
Give an example of a question that could be answered using descriptive statistics
What will be an ideal response?
Long-term capital budgeting proposals are normally expected to incur negative cash flows in the initial time period, but eventually they should generate positive cash flows
a. True b. False Indicate whether the statement is true or false