Which internal control activity is violated when the cashier at a cash register in a retail store also records the daily receipts in a journal?
A) Segregation of duties
B) Adequate documentation
C) Independent verification
D) Physical security
A
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Which of the following describes the environment in internal control?
A) Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate. B) The environment is the "tone at the top" of the business. C) The environment is designed to ensure that the business earns profit. D) A company must identify its risks.
Product unit cost comprises only direct materials and direct labor costs
Indicate whether the statement is true or false
Cabell Products is a division of a major corporation. Last year the division had total sales of $25,320,000, net operating income of $1,924,320, and average operating assets of $6,000,000. The company's minimum required rate of return is 10%.The division's turnover is closest to:
A. 4.22 B. 0.32 C. 13.16 D. 3.20
Which one of the following refers to individual values and lifestyles?
A. Psychographics D. Demographics B. Role in the decision process E. Geographics C. Position