Which of the following internal controls most likely would reduce the risk of diversion of customer receipts by an entity's employees?
A. A bank lockbox system.
B. Prenumbered remittance advices.
C. Monthly bank reconciliations.
D. Daily deposit of cash receipts.
A. A bank lockbox system.
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The 34 nations that belong to the OECD, who believe in market-allocation economic systems and pluralistic democracy, are also addressed as "economic think tank" or the "rich man's club."
Indicate whether the statement is true or false
A few state courts have declared their state's statute of repose unconstitutional because it:
A. does not bar the bringing of a tort-based product liability suit after a certain number of years from the date the product is first sold to a user. B. denies people the right to seek redress for their injuries when they had no chance to discover their injuries within the statutory period. C. gives people time from the date they discover their injury in which to bring their suit. D. refrains people to bring a suit who are injured by products such as asbestos or DES that cause injury immediately.
Simone has been told that she falls prey to the availability bias in her decision- making. She can guard against making this mistake by ______.
A. making the things that are desired for decision making vivid and very easy to bring to mind B. concentrating on things that are readily available in her memory C. trying to maximize the things that she wants to influence her decision D. increasing the amount of confirming information
Which of the following ratios does NOT measure efficiency or activity of an entity?
a. Accounts receivable turnover b. Age of accounts receivable c. Net cash flow to current liabilities d. Times interest earned