The statement of cash flows informs users about how much of the earnings were kept and reinvested in the company
Indicate whether the statement is true or false
FALSE
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A vendor's recent shipment at the retailer's distribution center was on time, but the boxes were mislabeled along with other infractions against the retailer's mandated shipment policies. What should the retailer do?
A. Send the shipment back. B. Pay the vendor invoice immediately to assure deliveries are still on time in the future. C. Initiate legal proceedings against the vendor. D. Issue a chargeback. E. Accept the vendor's gifts to repay the inconvenience infractions.
Confirmations of receivables at an interim date When internal controls are strong, the auditor may decide to confirm receivables before year end. Roll-forward procedures are then used to obtain adequate evidence for the roll-forward period. Discuss why
the auditor would want to confirm receivables before balance sheet date, the risks involved, and at least three of the roll-forward procedures that the auditor performs to gain assurance on the roll-forward period.
Which of the following is a measure for discouraging theft for a retail store that accepts cash receipts over the counter?
A) A receipt is issued for each transaction to ensure that each sale is recorded. B) At the end of the day, the sales clerk proves the cash by comparing the cash in the drawer against the machine's record of cash sales. C) The sales clerk uses the machine tape to record the journal entry for cash receipts and sales revenue. D) The store clerk deposits the cash in the bank.
Which of the following is true about behavioral segmentation on the basis of the loyalty variable?
A) Consumers tend to pay more for products that are targeted at their respective age group or generation. B) By looking at customers who are shifting away from its brand, a company can learn about its marketing weaknesses and take actions to correct them. C) Highly loyal customers of a brand are less likely to engage in word-of-mouth publicity than those who are not. D) Completely loyal customers of a brand are typically loyal to two or three brands of a given product. E) Only consumers who seek premium or luxury services are subjected to behavioral segmentation based on the loyalty variable.