Which of the following statements is incorrect?
A. On the work sheet, the effects of the accounting adjustments are shown on the account balances.
B. On the work sheet, the adjusted amounts are sorted into columns according to whether the accounts are used in preparing the unadjusted trial balance or the adjusted trial balance.
C. Working papers are useful aids in the accounting process.
D. A worksheet is not a substitute for financial statements.
E. After the work sheet is completed, it can be used to help prepare the financial statements.
Answer: B
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The competing values framework classifies organizational cultures into which of the following?
A. Stable, flexible, and laddered cultures. B. Observable, flexible, competitive, and driven cultures. C. Symbolic, heroic, and basic cultures. D. Clan, adhocracy, market, and hierarchy cultures. E. Observable, espoused, and core cultures.
In terms of ethical theory, lofty compensation packages have a utilitarian function when they act as incentives for executives to produce greater overall results.
Answer the following statement true (T) or false (F)
Naya Cortez and Peter Sharma started a car audio business together as a partnership. Which of the following names can they not use for their new business?
A) Cortez, Sharma and Co. B) Car Audio studio C) Cortez and Sharma, Ltd. D) The Audio Experts E) Both B and D
Which method of performance appraisal requires managers to place a certain percentage of employees into various performance categories?
A. Forced distribution method B. Checklist method C. Percent method D. Forced-choice method