Which of the following is not a major component of an organization's internal controls?
a. Risk assessment.
b. Control environment.
c. Control activities.
d. Control risk.
d
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Ajax Inc. is one of the customers of a well-known linen manufacturing company. Ajax has not ordered linen in some time, but when it did order in the past it ordered frequently, and its orders were of the highest monetary value. Under the given circumstances, Ajax is most likely to have an RFM score of ________.
A. 555 B. 515 C. 155 D. 511 E. 151
[The following information applies to the questions displayed below.] Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year 25,000unitsUnits sold this year 15,000unitsDirect materials$9per unitDirect labor$11per unitVariable overhead$3per unitFixed overhead$137,500in totalGiven Advanced Company's data, compute cost per unit of finished goods under variable costing.
A. $25.00 B. $21.88 C. $23.00 D. $28.50 E. $20.00
The payment of a stock dividend is a shifting of funds between stockholders' equity accounts rather than an outflow of funds
Indicate whether the statement is true or false
Tim has been selling illegal drugs in his $1,000,000 house. When he is caught by the police, they confiscate the house. Tim sues the police for imposing excessive fines since the drugs he was selling were only worth $1,000 . The court is likely to find that:
a. Tim has a case since his property is worth much more than the drugs b. Tim does not have a case because the confiscation is part of a rational and consistent scheme to deter drug dealing c. Tim would have a case if he lived in Alabama d. Tim would have a case if he lived in Illinois e. Tim has a case because the confiscation of his house violates the Fifth Amendment