Which of the following manipulations of cash transactions would overstate the cash balance on the financial statements?
A. Overstatement of outstanding checks.
B. Overstatement of bank services charges.
C. Understatement of deposits in transit.
D. Understatement of outstanding checks.
Answer: D
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Answer the following statements true (T) or false (F)
1. The task of summarizing the flow of physical units is one of the four steps involved in the preparation of the production cost report. 2. The number of equivalent units for direct materials and conversion costs must always be equal. 3. The weighted-average method determines the cost of equivalent units of production by accounting for beginning inventory costs separately from current period costs. 4. The equivalent units of production for transferred in units are always 100%. 5. Cost amounts that are transferred out of one department become the transferred in cost for the next department.
What are the two dimensions of the Leader Behavior Description Questionnaire?
a. structuring and consideration b. structuring and communication c. performance and consideration d. performance and communication
First Construction Company agrees to build a complete assembly line for Plastic Moulds Inc by April of that year
A term of the contract states: "If First Construction fails to complete the assembly line by April 1, it will pay Plastic Moulds the sum of $5,000 per day until completion. This sum is agreed by First Construction to be liquidated damages and not a penalty." Plastic Moulds knows that its real damage will likely be $500 per day, but it wants to give First Construction a little incentive to make the deadline. However, First Construction is late. Which of the following is true? A) The clause is enforceable because the parties have agreed that it is a liquidated damages clause. B) The clause is enforceable because Plastic Moulds is entitled to use it to provide incentive to First Construction. C) The clause is not enforceable because it is not a genuine pre-estimate of damages. D) The clause is enforceable because it is a genuine pre-estimate of damages. E) Both A and D
The management of Wallpaper International Limited is concerned about losses that have been occurring as result of theft and other acts of dishonesty committed by employees
To protect itself against this type or risk, which of the following types of insurance should the management be advised to get? A) Professional liability insurance B) Business interruption insurance C) Fidelity insurance D) Credit insurance E) None of the above