Arbitration refers to the formalized system for dealing with grievances and administering corrective justice to parties in a bargaining situation
Indicate whether the statement is true or false
TRUE
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Which of the following is an example of a register-disbursement scheme?
a. A perpetrator who processes transactions as if a customer were returning merchandise, even though there is no actual return. b. A perpetrator uses the expense register to falsely record expenses that are then paid out by the A/P department. c. A perpetrator physically prepares a check from the check register claiming it is a legitimate expense when it is not. d. A perpetrator slowly takes money from the register drawer after making regular sales, showing that a discount was given to a customer on the receipt.
Bill has had a problem with vandalism at his business, so he rigs up a spring gun at the entryway to his store, so that any after-hours intruder will be shot upon entry. Bill may legally use this deadly force to protect his business
a. True b. False Indicate whether the statement is true or false
A company's amount of cost of goods sold reported on the income statement will be the same with a periodic inventory system as it would be with a perpetual system.
Answer the following statement true (T) or false (F)
Mark hires Joe's real estate agency to sell his property, telling Joe he has lost too much money playing the stock market to afford to keep it up. Then Mark wins the three million-dollar lottery! Joe reads this in the newspaper and that afternoon makes a contract with Sharon to sell the property. Is the contract valid?
a. No, the agency terminated because of the change in conditions. b. No, the agent has no right to sell without consent. c. Yes, Mark would have to notify Joe if he wanted to stop the sale. d. Yes, Joe had apparent authority to sell.