List the four broad objectives of the internal control system
safeguard assets,
ensure the accuracy and reliability of accounting records,
promote organizational efficiency,
comply with management's policies and procedures
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Answer the following statement(s) true (T) or false (F)
1. When people are “out of sync” in their nonverbal gestures as a result of diversity in relational mental models, it can decrease levels of anxiety and can actually improve one’s performance in the situation. 2. There are no gender differences in interpersonal styles. 3. In the United States, bringing authentic emotionality to the workplace is ok and is still considered within the bounds of professional behavior 4. In a survey conducted in the United States, China, and Korea, Neuman and his colleagues (2004) asked managers and business students to what extent task and relationship conflict were a roadblock to success. Only the Europeans and Americans, and particularly men, had a different belief about the effects of relationship conflict. 5. Cross-cultural communication relies on many shared understandings about emotional displays.
Andrea makes her business decisions based upon her duties to her customers and her workers. She has occasionally taken products off the shelf when she felt the product presented a danger to her customers. She has adopted:
a. a utilitarian philosophy b. values c. attitudes d. ethics e. a humanistic philosophy
What role do external auditors play in a firm's financial reporting process?
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Internal control of cash receipts aims to ensure that all cash received is properly recorded and deposited. 2. A voucher system is a set of procedures and approvals designed to control cash disbursements and the acceptance of obligations. 3. Most large thefts occur from payment of fictitious invoices, which makes control of cash disbursements especially important for companies. 4. If the Cash Over and Short account has a credit balance at the end of the period, the amount is commonly reported as miscellaneous revenue. 5. The clerk who has access to the cash in the cash register should also have access to the cash register tape or file.