All of the months have 31 days except February, April, June, September, November.?
Indicate whether the statement is true or false
True
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At Forrest Industries, all sales are on account. Sienna Marcos is responsible for mailing invoices to customers, recording the amount billed, opening mail, recording the payment, and making deposits to the bank. Sienna is very devoted to the family
business and never takes off more than one or two days for a long weekend. The customers know Sienna and sometimes send personal notes with their payments. Another clerk handles all aspects of accounts payable. Sienna's brother, who is president of Forrest Industries, has hired an accountant to help with expansion. REQUIRED: 1 . List some problems with the current accounts receivable system. 2 . What suggestions would you make to improve internal control? 3 . How would you explain to Sienna that she personally is not the problem?
As a business grows or evolves it is necessary for the accounting system to
A) stay the same according to the consistency principle. B) completely change computerized accounting systems and simplify to a manual system. C) completely change all manual accounting systems to one that is computerized. D) adapt or modify to meet the specific needs of the business.
Which of the following is not a defense of the tort liability-system?
A) Encourages good driving B) Reduces fraud C) Places the blame for negligence on those responsible D) Maximizes the dollars going to the injured due to legal involvement of attorneys
In the context of creating and maintaining ethical organizations, discuss some of the results of research conducted by the Ethics Resource Center (ERC).
What will be an ideal response?