The Sarbanes-Oxley Act (SOX) requires managers and auditors of companies whose stock is traded on an exchange to document and verify the system of internal controls.
Answer the following statement true (T) or false (F)
True
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An important reconciliation in the payroll system is
a. general ledger compares the labor distribution summary from cost accounting to the disbursement voucher from accounts payable b. personnel compares the number of employees authorized to receive a paycheck to the number of paychecks prepared c. production compares the number of hours reported on job tickets to the number of hours reported on time cards d. payroll compares the labor distribution summary to the hours reported on time cards
You work as a sales representative in a company that manufactures surgical equipment. Before calling on an important prospect, you decide to search the Internet and find out details about him
What step in the selling process is being carried out here? What is the importance of this step?
________ refers to the standard that establishes the amount each salesperson should sell and how sales should be divided among the company's products
A) Conditional sale B) A bill of sale C) A sales quota D) Prospecting E) Satisficing
What is the most accurate statement about proofreading and document errors?
A) Documents with errors do not affect your credibility or the success of your organization. B) You should proofread your document continuously while writing it. C) Checking format is not part of the proofreading stage. D) It can be difficult to catch our own errors because most of us read what we thought we wrote.