Properly supervising employees would be an example of what element of internal control?
A) Control environment
B) Control activities
C) Information and communication
D) Risk assessment
B) Control activities
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Four characteristics are used to differentiate services from goods. Which of the following is NOT one of those characteristics?
A) intangibility B) perishability C) variability D) personalization E) inseparability
Management is considering replacing an existing sales commission compensation plan with a fixed salary plan. If the change is adopted, the company's
a. break-even point must increase. b. margin of safety must decrease. c. operating leverage must increase. d. profit must increase.
Without careful and early attention to page layout, a text might __________________
a. not fit within prescribed limits b. turn out more creatively c. be published incorrectly d. be too expensive to print
The information reported in financial statements is organized into ten categories known as accounts.
Answer the following statement true (T) or false (F)