With regard to segregation of duties, rule two is that asset custody and record keeping should be separated. What does this require in the revenue cycle?
In the revenue cycle, the warehouse has custody of physical assets while accounting (especially general ledger and inventory control) maintains the records. Also, in the cash receipts subsystem, cash receipts has custody of the asset (cash) while general ledger and accounts receivable keep the records.
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The text discusses the evolution of marketing through five "eras." Which of the following is NOT one of these eras?
A. the production era B. the marketing company era C. the simple trade era D. the sales era E. the diversification era
Cookie Shops, Inc, sells a franchise to Donuts & Desserts, a mall food-court vendor. Cookie Shops is
a. a franchisee. b. a franchisor. c. an agent. d. a principal.
________ refers to concrete examples to show how learning has led to results that a company finds worthwhile and credible.
A. Utility analysis B. Outcome practicality C. Return on expectations (ROE) D. Success cases
Why does hedging reduce the firm's expected taxes and increase its value?
A) It creates a tax-loss carry-forward. B) It separates production costs from headquarters' costs. C) It provides the firm with additional expenses reducing taxable income. D) It allows the firm to shift income across different tax jurisdictions in the world.