Jordan paid for his purchases by using a bank card that allowed him to buy goods without having to make immediate payment. He, however, failed to clear the balance on time and was charged with a late fee. In this scenario, Jordan used a _____.
A. debit card
B. loyalty card
C. fleet card
D. credit card
Answer: D
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An auditor performs a test to determine whether all merchandise was received for which the entity was billed. The population for this test consists of all:
A. merchandise received. B. canceled checks. C. receiving reports. D. vendors' invoices.
The quick ratio is current assets minus current liabilities
Indicate whether the statement is true or false
Which of the following statements about Bitcoin is not true?
A. The computational power required to mine Bitcoins has increased over time. B. Bitcoins are completely secure. C. Bitcoins are illegal in some countries. D. In 2018, Bitcoin represented just under 40% of the full market for cryptocurrencies.
A system of internal control cannot be considered good until the possibility of human error has been completely eliminated
Indicate whether the statement is true or false