The primary responsibility for the prevention and detection of fraud rests with ________.
A) the Audit Committee
B) internal auditors
C) management
D) external auditors
C) management
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In determining the effectiveness of an entity's policies and procedures relating to the existence or occurrence assertion for payroll transactions, an auditor most likely would inquire about and:
A. observe the segregation of duties concerning human resource responsibilities and payroll disbursement. B. verify the preparation of the monthly payroll account bank reconciliation. C. recompute the payroll deductions for employee fringe benefits. D. inspect evidence that all prenumbered payroll checks are accounted for.
Which of the following is an example of publicity?
a. Neon Power, a manufacturer of electronic goods, uses its salesforce to sell directly to its customers. b. Silky Blue, an apparel store, announces huge discounts on its products for the year-end sale. c. The Blue Bird, a daily newspaper, publishes a review about the latest model car from Storm, a car manufacturing company. d. Neil's Food Factory, a manufacturer of food products, relies largely on paid-for advertisements on television for its products.
In an unbalanced transportation problem where total demand exceeds total supply, the demand constraints will typically have "?" inequalities
Indicate whether the statement is true or false
Margo is in possession of a check issued to her by Felix. The check states, "Pay to the order of Margo." If Margo wishes to transfer the check to Pete to pay a debt she owes him, all she needs to do is strike out her name on the front of the check, write in Felix's name and give it to him
Indicate whether the statement is true or false