The accounts receivable clerk destroys all invoices for sales made to members of her family and does not record the sale in the accounts receivable subsidiary ledger. Which procedure will not detect this fraud?
a. prenumber and sequence check all invoices
b. reconcile the accounts receivable control to the accounts receivable subsidiary ledger
c. prepare monthly customer statements
d. reconcile total sales on account to the debits in the accounts receivable subsidiary ledger
C
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The amount of income that would result from an alternative use of cash is called:
A) differential income B) sunk cost C) differential revenue D) opportunity cost
Formal proposals are written for only external audiences
Indicate whether the statement is true or false
Under what circumstances might the court reject a debtor's Chapter 13 plan?
a. The plan requires future earnings to pay off debts. b. The plan promises to pay all secured and priority claims. c. The plan anticipates paying the unsecured creditors less than what they would get under Chapter 7. d. The plan treats all unsecured classes equally.
Day-to-day cash management is one of the fundamental concepts that a nonfinancial manager should understand in order to:
A) better assess the e current environment in which the firm operates. B) better assess future financing requirements. C) better understand the role of capital markets in raising long-term funds. D) better measure and create value for the shareholders.