Which of the following is not true of the concepts that are embodied in the COSO framework of internal controls?
a. Internal controls relate to the organization's objectives.
b. The six components of internal control are logically and operationally intertwined.
c. Internal controls apply across all activities of the organization.
d. All of the above are true.
b
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A perfected security interest in fixtures has priority over the conflicting interest of an encumbrancer or owner of the real property:
A. if the interest of the encumbrancer arose after the goods became fixtures. B. if the security interest is a purchase money security interest. C. if the fixtures' security interest is perfected by a "fixtures filing" anytime after the goods became fixtures. D. only if the debtor is in possession of the real property.
The following information is available from Dodger Corporation's accounting records for the year ended December 31 . 2014: Cash paid to suppliers and employees ................ $1,020,000 Cash dividends paid ................................. 60,000 Cash received from customers ........................ 1,740,000 Rent received ....................................... 20,000 Taxes paid
.......................................... 220,000 Net cash flow provided by operating activities for 2014 was a. $520,000. b. $500,000. c. $460,000. d. $440,000.
Under the dimensions of observation, what is meant by event?
a. the physical things that are present at the time of the behavior b. the product or service being observed c. a particular span of time d. a set of related activities that people carry out
If an offeree accepts an offer before it is effectively revoked:
A) a void contract is formed B) a voidable contract is formed. C) an unenforceable contract is formed. D) a valid contract is formed.