Which of the following statements would least likely be found in a corporate credo?
A. Support community organizations and projects.
B. Provide secure and stable employment for employees.
C. Maximize financial benefits for stakeholders as the primary goal of the organization.
D. Establish an environment that enhances professional growth.
Answer: C
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When auditing expense accounts, which of the following would the auditor be least likely to subject to a detailed test of transactions?
a. Legal expense. b. Utilities expense. c. Repairs and maintenance expense. d. Travel expense.
Which of the following best describes the payables turnover?
A) Cost of goods sold/Average accounts payable B) Cost of goods sold +/-Change in inventory/Average accounts payable C) Average accounts payable/Cost of goods sold D) Average accounts payable/Cost of goods sold +/- Change in inventory
Periodic review systems are ______.
A. characterized by weekly, monthly, or annual physical counts of inventory B. best suited for businesses that sell high-volume products C. systems where inventory is replenished halfway during a consumption cycle D. systems where the entire inventory of a product is ordered by a single customer
The average inventory level in the EOQ model is?
a. Q b. Q/2 c. L d. L/2