How may an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate segregation of functions and authorization controls were not in place?
An employee who has access to incoming payments, either cash or check, as well as the authorization to issue credit memos may pocket the cash or check of a payment for goods received. This employee could then issue a credit memo to this person's account so that the customer does not show a balance due.
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An overstatement of beginning inventory in a period will result in an overstatement of gross margin in the next period
Indicate whether the statement is true or false
Which of the following is a core idea in Clayton M. Christensen’s concept of the Innovator’s Dilemma?
a. Successful firms can fail because of good management rather than bad management b. Successful firms that fail are those that ignore customers’ needs, wants, and demands c. To ensure business success firms should carefully analyze and evaluate customers’ demands, market trends, and invest highly in innovations that promise best returns d. All of the above
Because graphics are based on numeric data, distortion is not as likely as in text discussion
Indicate whether the statement is true or false
Which GDM (Global Diversity Management) model uses a systems approach an egg knowledge is multiple layers of influence that can affect GDM activities?
a. Intervention models b. House models c. Contextual model d. Communication models