An accountant describes the effects of an economic event on an entity by recording the transaction and reporting the amount on the financial statements. What is this called?
a. Measurement
b. Recognition
c. Disclosure
d. Matching
b
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For the cash receipts process, the control plan turnaround documents helps to achieve which of the following pairs of control goals?
a. ensure input validity and ensure input completeness b. ensure efficient employment of resources and ensure input accuracy c. ensure input completeness and ensure input accuracy d. ensure security of resources and ensure input accuracy
An investigator locates the scene that should be observed, anticipates the action that is most likely to occur at the scene, and keeps detailed notes on all activities involving the suspect. Which type of surveillance is being used here?
a. Static surveillance b. Electronic surveillance c. Stationary surveillance d. Moving surveillance
Your friend, Linda, started a graphic design firm about a year ago. The business has done well, but it needs a lot more equipment, computers, and employees to continue expanding. Linda does not see any problem because she thinks she can easily get all the money she will need from her local bank. What advice might you give her?
A. She is right, the bank is likely to lend her as much as she needs because banks primarily focus on supporting small businesses. B. She is crazy, banks do not lend money to small businesses but only to well- known, well-established organizations. C. She should sell her business immediately before it fails because most small businesses fail during the first five years. D. She should not accept any new clients so that she can end the need to add additional equipment and employees. E. She should consider alternative sources of financing because banks provide only about one-fourth of the total capital to small businesses.
A researcher conducts a study where she divides subjects into two groups, gives each group a certain treatment, and records their responses. What type of data collection is being used here?
A. An experiment. B. Direct observation. C. A survey. D. A census. E.