Which of the following best describes lapping?
a. applying cash receipts to a different customer's account in an attempt to conceal previous thefts of funds
b. inflating bank balances by transferring money among different bank accounts
c. expensing an asset that has been stolen
d. creating a false transaction
A
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Craig Company experienced an accounting event that is recorded in the T-accounts as follows:Cash19,000 Notes Payable 20,000 Discount on Notes Payable1,000 How does this event affect the elements of Craig's financial statements? Assets=Liab.+EquityRevenue?Expense=Net Inc.Cash FlowA.+=NA+++?NA=++ OAB.+=++?NA?+=?+ FAC.+=++NANA?NA=NA+ FAD.+=++NANA?NA=NA+ OA
A. Option A B. Option B C. Option C D. Option D
The write-off of goodwill that has been impaired is a component of income from operations
Indicate whether the statement is true or false
The chief executive officer (CEO) of a nonprofit organization is preparing a data information system to monitor if organizational programs are meeting the established goal. The CEO is controlling his organization’s performance through the use of ______ measures.
A. input B. impact C. mimetic D. outcome
Explain the difference between groups and teams.
What will be an ideal response?