Which of the following statements accurately describes a fidelity bond?
A. Insurance that the company buys to protect itself from loss due to employee dishonesty.
B. Proper procedures for processing transactions.
C. Procedures to provide reasonable assurance that the objectives of a company are accomplished.
D. Guidelines or policies that limit the actions of different levels of management.
Answer: A
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Which of the following statements is the assumption on which straight-line depreciation is based?
a. The operating efficiency of the asset decreases in later years. b. Service value declines as a function of obsolescence rather than time. c. Service value declines as a function of time rather than use. d. Physical wear and tear are more important than economic obsolescence.
Coppelli Inc In early 2012, Coppelli Inc had budgeted for the production and sale of 24,000 units. The standard sales price and variable costs per unit were budgeted to be $6.00 and $2.00, respectively. Actual sales for 2012 totaled 25,300 units, and the actual sales price and variable costs per unit were $6.50 and $2.10, respectively. Both budgeted and actual fixed costs were $30,000. Refer to
the Coppelli Inc information above. What was Coppelli's sales price variance for 2012? A) $12,650 F B) $12,650 U C) $12,000 F D) $12,000 U
What federal law prohibits the manufacture of products that can be used to circumvent wrappers or encryption techniques?
A) Fair-use doctrine B) Digital Millennium Copyright Act C) Trademark Law of 1988 D) Electronic Communications Privacy Act
Which of the following concepts is needed to achieve uninterrupted material flow?
A) pull system B) uniform plant loading C) valid schedules D) All of the above are needed. E) A and B only are needed.