The most effective internal control procedure to prevent or detect the creation of fictitious credit memoranda for sales returns is to
a. supervise the accounts receivable department
b. limit access to credit memoranda
c. prenumber and sequence check all credit memoranda
d. require management approval for all credit memoranda
D
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When an economic expansion has been going on for several years, you are likely to observe that
A. the yield curve is sharply upward sloping. B. the yield curve is somewhat upward sloping. C. the yield curve is flat or inverted. D. the yield curve is a vertical straight line.
Which of the following metrics would a company most likely evaluate at the end of an operating period?
A) inventory turnover B) product defects C) market share D) customer satisfaction E) late deliveries
The World Trade Organization, consisting of 158 countries, works to erect entry barriers or regulations that limit free trade
Indicate whether the statement is true or false
The purchase of equipment using cash is an investing activity
Indicate whether the statement is true or false