Forecasts are most useful when the ________ will look radically different from the
A. present; future.
B. past; future.
C. present; past.
D. future; present.
E. future; past.
Answer: E
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If the firm measures an asset at acquisition cost on the balance sheet, it measures expenses based on the _____ of the asset consumed
a. fair market value b. acquisition cost c. current value d. liquidation value e. replacement value
The grapevine in an organization
a. is less accurate than other channels. b. serves a necessary purpose; thus, managers should work to understand its functioning. c. passes a message in single file from person to person until it finally reaches the end of the line. d. has a single, consistent source.
Preparing a bank reconciliation is a control activity.
Answer the following statement true (T) or false (F)
In CASE 12.2 Edwards v. Arthur Anderssn LLP. (2008), plaintiff Edwards was a tax manager at an Arthur Anderson office in Los Angeles. Arthur Anderson was later indicted for its role in the Enron debacle, but an AA subsidiary HSBC offered to hire Edwards conditioned on signing a "termination of non-compete" agreement (TONC). Edwards signed the employment offer but not the TONC. The offer was
rescinded and Edwards was terminated. Edwards sued. The main issue dealt with California's statutory ban on most: a. employee surveillance tactics. b. 'clawback' agreements. c. confidentiality agreements. d. noncompete agreements.