Ineffective internal controls result in higher risk of material misstatement in the financial statements than effective internal controls
a. True
b. False
Indicate whether the statement is true or false
True
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The coding system typically used in the general ledger chart of accounts is:
a. serial coding b. hierarchical coding c. block coding d. mnemonic coding
When a consumer gives little thought or time to the purchase of a product she is in the habit of buying, she is making a(n) ________ buying decision.
A. routine B. high-involvement C. extensive D. limited E. preconscious
Most management decisions are based on analyses using expected future dollars
Indicate whether the statement is true or false
A company's strategy is a "work in progress" and evolves over time because of the
A. frequent need to modify key elements of the company's business model. B. need to make regular adjustments in the company's strategic vision. C. importance of developing a fresh strategic plan every year that keeps employees from becoming bored with executing the same strategy year after year. D. ongoing need to imitate the new strategic moves of the industry leaders. E. ongoing need of company managers to react and respond to changing market and competitive conditions.