Classify each of the following transactions for the purpose of the statement of cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or not reported on the statement of cash flows (NA).1) ________Collected accounts receivable2) ________Made adjusting entry to accrue salary expense at the end of the year3) ________Borrowed funds from the bank4) ________Paid rent for the month5) ________Paid cash to settle accounts payable6) ________Issued common stock for $30,000 cash7) ________Paid cash to acquire land
What will be an ideal response?
1) OA, 2) NA, 3) FA, 4) OA, 5) OA, 6) FA, 7) IA
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Span of control refers to
A. how many people are on a company's board of directors. B. the legitimate right to make decisions and to tell other people what to do. C. the number of individuals reporting directly to a manager or supervisor. D. the top management team, which typically includes the CEO and president. E. the role of the executive staff in ensuring that firm activities meet stakeholders' goals.
Management philosophy and operating style would have a relatively less significant influence on a firm's control environment when:
A. Accurate management job descriptions delineate specific duties. B. The audit committee does not have regular meetings. C. The internal auditor reports directly to the controller. D. Management is dominated by one individual.
Dissatisfaction with agency conduct is the most commonly cited reason for agency switches.
Answer the following statement true (T) or false (F)
________ ratios include the price-earnings ratio and dividend yield.
Fill in the blank(s) with the appropriate word(s).