Explain why accountants are interested in the legal feasibility of a new systems project
Legal feasibility identifies conflicts between the proposed system and the company's ability to discharge its legal responsibilities. Accountants are often tasked with the legal requirements associated with developing the internal control system and securing information from inappropriate disclosure.
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Current liabilities are due
a. but not receivable for more than one year b. but not payable for more than one year c. and receivable within one year d. and payable within one year
The ratio of liabilities to stockholders' equity is a measure of the extent of leverage, or proportion of borrowed capital, with which a business operates
a. True b. False Indicate whether the statement is true or false
Visible diversity refers to:
a. Characteristics that are observable; readily detectable attributes such as race, gender or physical disability b. Underlying attributes such as religious, education, and tenure within the organization c. Cultural practices in the workplace d. Work teams that have diverse composition
Hayden owes Luther $5000 . Hayden will only be able to pay this debt if he is able to sell his one-year-old Harley motorcycle, valued at $20,000 . Hayden writes a check to Luther that reads, "Payable to the order of Luther the sum of $5000 as soon as my Harley motorcycle sells for a reasonable amount." This check is
a. negotiable, assuming Luther accepts delivery of the check. b. negotiable if Hayden also includes a date that he expects the motorcycle to sell. c. non-negotiable because it does not state a definite amount of money. d. non-negotiable because the check is conditional.