Which of the following is not one of the nine features of an internal control system?
A. Establishment of clear lines of authority
B. Customer service comment cards
C. Having employees covered by a fidelity bond
D. Requiring regular vacations for certain employees
Answer: B
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Spencer Company had overapplied factory overhead of $5,00 . last year. Which of the following statements is not true?
a. A higher level of production may have been achieved than budgeted for. b. The Work in Process account was overcharged for the costs of factory overhead incurred during the period. c. The actual factory overhead expenses may have been less than budgeted for the operating level achieved. d. Assuming the amount is not material enough to distort net income, Cost of Goods Sold should be increased by this amount.
Financial statements of legally separate entities may be issued to show financial position, income, and cash flow as they would appear if the companies were a single entity
Indicate whether the statement is true or false
Surveys can be used for which of the following purposes?
A) to evaluate advertising B) to examine purchase and consumption behavior C) for market segmentation D) all of the above
Early mainstream adopters accept new ideas after the average person
Indicate whether the statement is true or false