For the following situation, state whether it represents a strength or weakness in internal control and give the reason for your answer. The mailroom employee opens all incoming mail. Customers' checks are sent to the treasurer, and remittance advices are sent to the accounting department. The controller compares the daily bank deposit amount from the treasurer and the daily debit to cash from the accounting department.
What will be an ideal response?
This is a strength. The accounting department does not receive checks. The accounting records are updated with the remittance advices. The controller compares the amounts deposited to the amount of cash recorded by the accounting department. Thus, the custody of assets is kept separate from accounting. The mailroom clerk, accounting staff, treasurer, and controller all have separate responsibilities.
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Fill in the blank(s) with the appropriate word(s).
Which of the following statements is true of an offer that was not communicated?
A) The offer stays valid for 30 days from the date of creation. B) The offer cannot be accepted by the offeree if not communicated. C) The offeree can claim an offer that was not communicated. D) The offer is considered to be an implied term.
Use the information from Table 8.8. The pizza shop manager believes that a combination forecast might improve her ability to predict future demand, and thus improve keeping fresh ingredients on hand
She decides to use the 3-week simple moving average and 3-week weighted moving average, giving them equal weight. What is her forecast for week #7? A) 38.05 pizzas B) 39.5 pizzas C) 38.5 pizzas D) 37.55 pizzas
Cybersquatting is illegal only if a domain name is identical to the trademark of another, not if the name is merely confusingly similar
Indicate whether the statement is true or false