Budd, the purchasing agent for Lake Hardware Wholesalers, has a relative who owns a retail hardware store. Budd arranged for hardware to be delivered by manufacturers to the retail store on a C.O.D. basis, thereby enabling his relative to buy at Lake's wholesale prices. Budd was probably able to accomplish this because of Lake's poor internal control over
A. Purchase requisitions.
B. Cash receipts.
C. Perpetual inventory records.
D. Purchase orders.
D. Purchase orders.
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Samantha would like to know how much cash was received from operating activities last year. She could easily find this information in the ______.
a. income statement b. revenue budget c. balance sheet d. cash flow statement
Which of the following is not considered a challenge facing most managers today?
A. Strategic decisions need to be made by applying analysis techniques. B. Managerial decisions must be made quickly. C. Managerial decisions require large amounts of information to analyze. D. Artificial intelligence is required by all managers to be successful.
Which of the following statements about infeasible problems is best?
A) All of the possible solutions violate at least one constraint. B) All of the possible solutions violate all of the constraints. C) At least one of the possible solutions violates all of the constraints. D) At least one of the possible solutions violates at least one of the constraints.
Which of the following is NOT one of the goals of the Baldrige Quality Award?
a. making quality a national priority b. disseminating best practices across the United States c. lowering production costs across the country d. contributing to the economy as a whole