Which one of the following is not a procedure in the approval of a specific invoice for payment?
a. The purchase requisition, purchase order, receiving report, and invoice are compared.
b. The extensions and footings on the invoice are verified.
c. An employee verifies that all of the approval activities have been completed before a check is prepared.
d. The purchasing department prepares a voucher to request payment.
d
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Which of the following statements is true of exculpatory clauses?
A. Exculpatory clauses, when enforced, can effectively relieve a party of liability for the consequences of his own negligence. B. Exculpatory clauses that seek to avoid liability for willful misconduct or fraud, however, are generally enforceable. C. Exculpatory clauses are effective only when the party which benefits by the clause owes a duty to the public. D. Exculpatory clauses are always illegal and cannot be taken up in court.
With respect to collection of primary data, confidentiality
a. is not an issue when data are collected from company records. b. means that primary data sources should not be acknowledged. c. requires that private information not be collected during an interview. d. sometimes comes into conflict with the need to acknowledge data sources.
A unique expertise or skill set that cannot be easily reproduced or imitated by other companies is referred to as a ___________.
a. Core credo b. Core competency c. Core concept d. Core cost-center
Common stockholders may use financial ratios to monitor manager actions to help lessen agency
problems. Indicate whether the statement is true or false