________ is a win-lose strategy in which one team brings up a minor point first to distract the other team from considering the main issue.
A. Red herring
B. Budget bogey
C. Negotiation jujitsu
D. Limited authority
E. Trial balloon
Answer: A
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Which of the following is an example of a wasting asset?
a. timber b. land c. equipment d. building
An entity erroneously recorded a large purchase twice. Which of the following internal controls would be most likely to detect this error in a timely and efficient manner?
A. Footing the purchases journal. B. Sending written quarterly confirmations to all vendors. C. Reconciling vendors' monthly statements with subsidiary payable ledger accounts. D. Tracing totals from the purchases journal to the ledger accounts.
______ are things a person in a society is allowed to do without any permission required from an authority.
A. Goals B. Privileges C. Rights D. Abilities
Which of the following is true?
a. We remember 20 percent of what we read. b. We remember 80 percent of what we hear. c. We remember 30 percent of what we see. d. We remember less than 25 percent of what we see and hear simultaneously.