Which internal control activity is followed when management authorizes the purchasing department to order goods and services for the company?
A) Segregation of duties
B) Physical security
C) Independent verification
D) Establishing responsibility
D
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To reconcile the bank statement, which of the following amount(s) would be subtracted from the bank statement balance?
a. interest earned; b. outstanding checks; c. deposits in transit; d. loans; e. amounts collected by the bank for the depositor's account.
A budget manual should include which of the following?
a. a list of specific budgetary activities to be performed b. original, revised, and approved budgets c. a calendar of scheduled budgetary activities d. all of the above
Any communication by a retailer that informs, persuades, and/or reminds the target market is _____
a. the channel of communication b. retail promotion c. advertising d. public relations
During 2017, the Garfield Humane Society, a voluntary health and welfare entity, received cash donations of $892,000 and membership dues of $62,000. A member of the Humane Society donated services valued at $8,000 that would otherwise have been performed by a paid staff member. A pet food manufacturer donated dog food valued at $16,400. The Humane Society received a gift of $140,000, to be used in building a new animal shelter. Also during 2017, investments held by the Humane Society earned interest of $2,000.Required:Prepare a schedule showing the amount that the Garfield Humane Society should have recorded for contributions from public support for 2017.
What will be an ideal response?