Fried Food, Inc., operates a commercial frying plant, discharging pollutants into the air. Greg reports the violations to the Environmental Protection Agency. Greg
A. is not entitled to a payment.
B. may be paid up to any amount.
C. may be paid up to $1,000.
D. may be paid up to $10,000.
Answer: D
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Blenham, Inc sells merchandise on credit. If a customer pays its balance due after the discount period has passed, what is the effect of the payment on Blenham's accounting equation?
a. Assets and stockholders' equity decrease. b. Assets decrease and liabilities increase. c. Assets and stockholders' equity increase. d. No net effect.
Which one of the following would be considered the most reliable type of audit evidence?
a. Purchase orders from vendors. b. Customer accounts receivable files. c. Computerized general ledger. d. Confirmations from banks.
When conducting exploratory research overseas in a country such as Saudi Arabia on the topic of attitudes toward household appliances, it would be most effective to conduct ________
A) focus groups by gender B) only secondary data collection C) focus groups composed of both males and females D) interviews with several in-country experts now living in the United States E) one-on-one depth interviews matching respondents and interviewers by gender
"The accounting decision making model is not useful in real life because it only looks at the numbers." Critique this statement and give an example for which it does not hold true