In a sound internal control system, all cash receipts should be deposited daily intact
a. True
b. False
Indicate whether the statement is true or false
True
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The lack of trust towards salespeople is caused by the self-centered nature of some salespeople.
Answer the following statement true (T) or false (F)
As the level of centralization increases in an organization, the probability of _____ also increases.
A. the upper echelon losing power B. the strategic decision process being initiated by lower-level managers C. dependence on middle-level management D. the decision process being goal-oriented and rational
Which of the following is true regarding a principal's duty to pay unemployment taxes?
a. A principal must pay unemployment taxes for both an employee and an independent contractor. b. A principal must pay unemployment taxes for an independent contractor but not for an employee. c. A principal must pay unemployment taxes for an employee but not for an independent contractor. d. A principal is not required to pay unemployment taxes for either an employee or an independent contractor.
Fact Pattern 27-2BThom draws a check, on his account in State Bank in New York, payable to Digital Computers, Inc., in San Francisco. Digital deposits the check in its account at First National Bank. First National deposits the check in the Federal Reserve Bank of San Francisco, which transfers it to the Federal Reserve Bank of New York. That Federal Reserve Bank sends the check to State Bank.Refer to Fact Pattern 27-2B. When Digital's bank received the check, it was required to pass it on
A. before midnight of the next banking day. B. before midnight of the next day, whether or not it was a "banking" day. C. before noon of the next banking day. D. within five business days.