With regard to segregation of duties, rule one is that transaction authorization and transaction processing should be separated. What does this require in the revenue cycle?
Within the revenue cycle, the credit department is separate from the rest of the process. Hence, the authorization of the transaction (granting of credit) is independent. If other people, e.g., sales staff, were able to authorize credit sales, there would be the temptation to approve sales to any customer, even those known to not be credit worthy.
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Which of the following is added to operating income to arrive at net income?
A) sales revenue B) cost of goods sold C) interest revenue D) operating expenses
A jewelry maker's suppliers of gold, platinum, and silver; the warehouses that store its finished goods; and the trucks that deliver the product to retailers are all part of a
A. public warehouse network. B. distribution point. C. modal transportation hub. D. private warehouse system. E. supply chain.
In a study whose purpose is to determine the market for a vitamin that is to be chewed like bubble gum, what is the first question to be answered before a sampling plan is selected?
A. Must the sample be representative of the population? B. Who can perform the actual sampling? C. What is the population or universe of interest? D. How often should the sample be redesigned? E. How large should the sample be in terms of its measurement costs?
A McKinsey study surveyed 721 companies and found that ______% of respondents believed that “personal interests of CEO/board members” held the most weight in determining the focus of the corporate philanthropy program.
a. 45 b. 55 c. 65 d. 75