Usually specific authorization is required for all of the following except
a. sales on account which exceed the credit limit
b. sales of goods at the list price
c. a cash refund for goods returned without a receipt
d. write off of an uncollectible account receivable
B
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Every information systems (IS) user has the right to a secure computing environment. This means that the ________.
A. user will never face a network problem B. user should solely be in charge of protecting the organization's computers and files C. user should inform the IS about software upgrades D. user should be in charge of applying system patches E. organization should protect his/her computer and its files
On May 17, Bruno Olive Co accepted a $6,500, 8%, 90-day note from a customer. On June 11, the note was discounted at 10%. At maturity date, the note was dishonored and the bank charged a $25 protest fee. The amount that Bruno Olive Co would debit to Notes Receivable Dishonored is
A) $6,655.00 B) $6,535.29 C) $6,525.00 D) $6,130.00
Which of the following is the method of reporting amounts of cash received from customers less cash disbursed to various suppliers, employees, lenders for interest payments, and taxing authorities, allowed by U.S. GAAP?
a. the direct method b. the indirect method c. both the direct method and the indirect method d. the schedule of cash receipts and cash disbursements e. the funds flow statement
________________ is the process by which an organization determines where it is going in the future, how it will get there, and how it will assess whether and to what extent it has achieved its goals.
Fill in the blank(s) with the appropriate word(s).