Which of the following is defined as the perseverance of beliefs based upon what is observed first?
A. recency effect
B. primacy effect
C. fundamental attribution error
D. belief updating
B. primacy effect
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Fun-Spot's mission is ________
A) product oriented B) technology oriented C) market oriented D) design oriented E) narrowly focused on profits
A $150 petty cash fund has cash of $28 and receipts of $110. The journal entry to replenish the account would include a
A) credit to Petty Cash for $82. B) debit to Cash for $110. C) debit to Cash Over and Short for $12. D) credit to Cash for $110
Nobells Corp. has acquired land and paid $500 as brokerage to acquire the land. However, the company's accountant has recorded the $500 as a revenue expenditure. What is the effect of this error?
A) Net income is understated by $500. B) Liabilities are overstated by $500. C) Revenue is overstated by $500. D) Assets are overstated by $500.
Which of the following is a limitation of the ERP systems?
a. reduction in operating and administrative costs b. creation of functional boundaries causing problems of accountability and confusion about the lines of responsibility c. reduction in production and delivery lead times d. provision of a real-time, enterprise-wide view of the business for faster and more effective decision-making