Which of the following is not a common internal control procedure that would be implemented with regards to cash receipts?
A. Providing copies of written receipts to customers
B. Preparing a record of all cash collections immediately upon receipt
C. Marking supporting documents Paid when checks are signed
D. Depositing cash receipts in a bank on a timely basis
Answer: C
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In contrast to a batch processing system, in a real-time system
a. a lag occurs between the time of the economic event and when the transaction is recorded b. relatively fewer hardware, programming, and training resources are required c. a lesser resource commitment per unit of output is required d. processing takes place when the economic event occurs
Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000,
$60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 2 during the period for applied overhead is: A) Factory Overhead--Department 2 70,000Work in Process--Department 2 70,000 B) Work in Process--Department 2 220,000Factory Overhead--Department 2 220,000 C) Work in Process--Department 2 70,000Factory Overhead--Department 2 70,000 D) Work in Process--Department 2 150,000Factory Overhead--Department 2 150,000
One aspect of team satisfaction is ________.
A. loyalty to the team manager B. camaraderie C. efficiency D. team growth E. a high salary
In terms of mature workers, which of the following trends is false?
a. This age group is healthier and more active than previous generations. b. Most no longer receive company paid pensions. c. In 2012, 50% of the workforce age 65 and older was employed or seeking work. d. They are retiring earlier than previous generations.