Responsibility accounting is more concerned with performance evaluation than performance management
Indicate whether the statement is true or false
F
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Which one of the following statements is true?
a. Good cash management practices dictate that a company should maintain as large a balance as possible in its cash account. b. Sound internal control practice dictates that disbursements should be made by check. c. The person handling the cash should also prepare the bank reconciliation. d. Petty cash can be substituted for a checking account to expedite the payment of all disbursements.
Which of the following audit procedures would be least likely to lead the auditor to find unrecorded fixed asset disposals?
A. Scanning of invoices for fixed asset additions for evidence of a purchase to replace a previously owned fixed asset. B. Review of property tax files. C. Review of repairs and maintenance expense. D. Examination of insurance policies for evidence of a dropped or cancelled policy.
How can a firm anticipate a competitor's reactions to a price change?
What will be an ideal response?
A sensitivity analysis of changes in value based on industry and cash-flow assumptions is one of the aspects of the audit program for goodwill impairment testing
a. True b. False Indicate whether the statement is true or false