Top executive pay in the United States:
A. is directly related to company performance.
B. is justified because of the high pay of many athletes and entertainers.
C. is among the highest in the world.
D. is roughly twice that of CEOs in Japan.
Answer: C. is among the highest in the world.
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Confirmations of receivables You are the auditor of Maple Bank for the year 2010 . Maple has a large number of customers with consumer loan accounts. The loan accounts have balances averaging $800 in a homogeneous population and the customers usually
pay close attention to their balances. Your preliminary assessment of internal control over the loan area is that control risk is low and results of tests of controls support that assessment. Inherent risk is deemed to be lower as well. Discuss the confirmation process and the types of confirmations that may be used for the audit of Maple Bank. Which confirmation type would you select for Maple and why?
How would a CRM system most likely enable a salesperson to facilitate relationship building with numerous customers?
A) projecting a professional image on social media sites B) using letter templates to convey information C) developing leads for potential new sales D) integrating numerous accounting tasks E) adding value to mature products
Cost allocation is:
a. the tracking of direct costs to objects. b. the process of determining actual costs of projects. c. the process of assigning indirect costs to objects. d. a function of cost tracing. e. None of the answers are correct.
How long will a student wait in line, on average?
Lenny, a graduate research assistant "moonlights" at the short order counter in the student union snack bar in the evenings. He is the only one on duty at the counter during the hours he works. Arrivals to the counter seem to follow the Poisson distribution with a mean of 8 per hour. Each customer is served one at a time and the service time follows an exponential distribution with a mean of 5 minutes.