The following set of items describes activities completed by a company in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. An employee in the accounting department records cash receipts from customers and prepares a bank deposit slip
a. Adheres to sound internal control procedures
b. Violates sound internal control procedures
c. Neither strengthens nor violates internal control
b
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Describe how job satisfaction can be measured and the difficulties associated with measuring it.
What will be an ideal response?
Which of the following is the best example of a service industry that utilizes price complexity?
a. Fast food b. Education c. Cellular phone d. Moving/transportation e. Roofing
On January 1, 2011, XYZ Corporation sold a piece of equipment for $30,000 which it had used for several years. The equipment had cost $45,000, and its accumulated depreciation amounted to $20,000 at the time of the sale. What are the net effects on the accounting equation of selling the equipment?
A) Assets and equity increase $30,000 B) Assets decrease and equity increases $5,000. C) Assets and equity increase $5,000. D) Assets and equity decrease $5,000.
How are outsourcing and vertical integration related? Can a single firm successfully do both?
What will be an ideal response?