An internal control system consists of all the following policies and procedures except:
a. Those necessary to ensure the safeguarding of an entity's assets.
b. Those necessary to ensure that cash on hand and on deposit in checking accounts is beyond the minimal amount for ongoing operations.
c. Those necessary to ensure the reliability of its accounting records.
d. Those necessary to ensure the accomplishment of its overall objectives.
b
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Greentech is launching a line of miniature solar chargers for laptops, cellphones, and other electronic devices. The chargers are compact, affordable and the green energy technology is a value-added benefit for both the company and consumers
Which of the following would qualify as an advertisement for Greentech's new solar chargers? A) a front-page notice of the release of Greentech's solar chargers in all leading newspapers B) a press conference to discuss the various benefits, including environmental feature C) the use of dedicated sales personnel to explain the qualities of the new solar chargers to retailers D) an endorsement by a national environmental organization to tout the benefits of the new solar chargers E) an online lottery where interested buyers have a chance to win a prize
Cost-volume-profit analysis is not appropriate for service businesses
Indicate whether the statement is true or false
As bread is being baked at a bakery, it would be considered as what type of inventory?
a. Raw material b. Work-in-process c. MRO d. Finished goods
Right of Subrogation. Levinson and Johnson, who had both signed a promissory note, did not pay the note when it was due. Instead, American Thermex, Inc, a corporation in which Johnson had a controlling interest, voluntarily paid the note. American
Thermex later brought suit against Levinson, seeking reimbursement for the payment. American Thermex argued, among other things, that because it had paid the note, it had the legal right of subrogation against the note's co-maker, Levinson. Will the court agree that American Thermex has a legal right of subrogation? Why or why not?