Which of the following most likely would be an internal control procedure designed to detect errors and fraud concerning the custody of inventory?
A. Independent comparisons of finished goods records with counts of goods on hand.
B. Approval of inventory journal entries by the storekeeper.
C. Segregation of functions between general accounting and cost accounting.
D. Periodic reconciliation of work in process with job cost sheets.
Answer: A
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Brad is a transportation coordinator for Volkswagen of North America. In order to move a large order of vehicles from a plant in Germany to Chicago, he is planning to use both waterways and railroads. The combining and coordinating of these two modes of transportation in order to take advantage of benefits offered by each of the different types of carriers is called
A. intermodal transportation. B. transportation piggybacking. C. containerized movement. D. efficiency transportation E. freight forwarding.
Gearbox, Inc, a manufacturer of vehicle parts, refuses to sell to Motor Repair & Replace, Inc, a national vehicle service firm. Gearbox convinces Cam & Cylinder Company, a competitor, to do the same. This is? A) a group boycott
B) an exclusive-dealing contract. C) a tying arrangement. D) a market division.
An approved SIP is treated as both state and federal law
Indicate whether the statement is true or false
If you are drawing from a uniform distribution with scores ranging from 1 to 5, what is the probability of drawing a 4?
a. 1/5 b. 2/5 c. 1 d. none of the above