Which one of the following is true of the bank reconciliation?
A) It should not be prepared by an employee who handles cash transactions.
B) It is prepared in place of the cash ledger.
C) It is a financial statement.
D) It guarantees that no errors have been made.
A
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Answer the following statements true (T) or false (F)
One consequence of the revenue-expense approach is to burden the balance sheet with by-products of income measurement rules.
Summarize the provisions of the Clayton Act as amended by the Robinson-Patman Act
What will be an ideal response?
SQL is:
A. a standardized fourth generation language found in most DBMSs. B. a storage tool that holds the data and definitions for a database. C. an administrative tool that allows you to set access rights for database users. D. a programming language that can be used instead of a DBMS.
Sinkmaster Corp settled a large lawsuit that caused earnings to be negative for the quarter. This
quarterly loss was the first in 22 years. In addition, the company has a record of 48 consecutive quarters of dividend payments. Which of the following is correct? A) The clientele effect says that investor choice of investment vehicle is independent of dividend policy and therefore the payment/omission of the dividend is immaterial. B) The company cannot pay dividends this quarter since the company had no earnings. C) The company can use cash generated through prior retention of earnings, or borrowed funds to pay the dividend. D) The company can omit the dividend; shareholders are always understanding about the riskiness of business.