What is the primary benefit of effective internal control in an organization?
a. Achievement of certain organizational goals.
b. Completion of a successful audit for the entity.
c. Shareholder involvement in the company's success.
d. Obtaining profitability and financial strength.
a
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A plan that shows the expected cash inflows and cash outflows during the budget period, including receipts from loans needed to maintain a minimum cash balance and repayments of such loans, is called a(n):
A. Income statement. B. Cash budget. C. Capital expenditures budget. D. Operating budget. E. Rolling budget.
The association of black color with bad luck (in China) or the breakfast preferences of Indians are discussed as examples of ______.
a. cultural differences b. religious differences c. industrial differences d. political differences
Why is culture like an iceberg?
a) It is cold b) Many cultures are isolated c) Most of its mass is invisible d) Culture floats to the top of society
The effective annual rate (rEAR) considers the effect of compounding, whereas annual percentage rate (APR) does not consider the effect of compounding.
Answer the following statement true (T) or false (F)