What does the term, segregation of duties, mean in the context of good internal controls?
What will be an ideal response?
One element of a good internal control system is to segregate duties so that if one person is behaving inappropriately, another is likely to see the misbehavior and take corrective action.
This system does not work if many high-level employees are willing to participate in the inappropriate behavior. Even the best systems of internal controls still rely on people.
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Indicate whether the statement is true or false
What is the difference between ecommerce and ebusiness?
A. Ecommerce is buying and selling of goods or services online; ebusiness includes ecommerce and all activities related to internal and external business operations. B. Ebusiness is buying and selling of goods or services online; ecommerce includes ecommerce and all activities related to internal and external business operations. C. Ecommerce includes ecommerce and all activities related to internal and external business operations; ebusiness includes all of the of knowledge management systems. D. Ecommerce includes Internet network effects; ebusiness includes ecommerce and all activities related to internal and external business operations.
Which of the following accounts has a normal credit balance?
a. Dividends b. Automotive Equipment c. Advertising Fees Earned d. Interest Expense
The creative strategy for an advertising campaign is summarized in a(n) ________
A) agency contract B) account plan C) media plan D) creative brief E) message objective