How can an organization use a sequence for internal control purposes?
One aim of internal control is to ensure that data is not being deleted to conceal embezzlement or other illegal activities. Hence, sequential values are often assigned to transactions that have an economic purpose - such as invoices, checks, etc. A sequence can be used to assign these same sequential values to electronic transactions. Gaps in the values may indicate that transactions have been purposely (or perhaps accidentally) deleted.
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The relationship among net profit margin, asset turnover, and financial leverage is known as _____
a. zero-based budgeting b. the strategic profit model c. opportunity costs d. gross profit
In considering crashing activities, we first want to crash activities that are ______.
a. the least costly to crash b. the most costly to crash c. easiest to crash d. most difficult to crash
The most common exception to the employment-at-will doctrine is made on the basis that the employer's reason for firing the employee violates fundamental common sense
Indicate whether the statement is true or false
Which of the following would normally be considered sufficient to demonstrate due care on the part of the auditor?
A. No omissions or misstatements have been found in the client's financial statements B. The auditor signs a statement expressing its unmodified opinion as to the fairness of the financial statements C. The auditor had its work reviewed by another audit firm D. The auditor cites adherence to generally accepted auditing standards (GAAS)