Designating the cashier to be custodian of the petty cash fund is more acceptable from the standpoint of internal control than making the cashier responsible for maintenance of accounts receivable records.
a. true
b. false
Answer: a. true
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Life-cycle wealth refers to the
a. income earned by an individual b. value of stock holdings by an individual c. monetary assets held by an individual d. non-money assets held by individuals e. amount of assets received through inheritance
What is the best description of unemployment insurance benefits in the United States?
A. All unemployed workers receive the same wage-adjusted benefit regardless of what state they live in. B. All unemployed workers receive the same benefit regardless of what their previous job was. C. Unemployment benefits are based on family size and age. D. The dollar value of unemployment benefits is greater for low-wage workers than for high-wage workers. E. Unemployment benefits are a greater percentage of previous earnings for low-wage workers than for high-wage workers.
When disposable income increases from $7 trillion to $7.5 trillion, consumption expenditure increases from $6.5 trillion to $6.9 trillion. The MPS equals
a) 0.75 b) 0.76 c) 0.8 d) 0.2
Suppose that interest payments are $140 per year on a $1,000 loan and $1,188 per year on an $8,485 loan. The interest rates on the two loans are:
A. 14 percent and 20 percent, respectively. B. 14 percent on both loans. C. 18.8 percent on both loans. D. 1.4 percent and 11.8 percent, respectively.