Campaign Services hired a new accounting manager. He signed a contract for a new accounting information system, but his position did not specify whether he was authorized to do so or not
In the above situation, which internal control procedure needs strengthening?
A) assignment of responsibilities
B) competent, reliable, and ethical personnel
C) separation of duties
D) documents
A
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An informal network of interpersonal relationships that has traditionally disadvantaged members of a protected class by providing a means for senior members of an organization to pass along career tips to selected junior members is
A. a mentoring network. B. the women's network. C. the juniors network. D. the good old boys' network.
Remedies for the Equal Pay Act would include:
a. employer fines. b. an award of non-liquidated damages. c. enjoining the employer from further unlawful conduct. d. All of these.
In a manufacturing operation, depreciation of plant equipment should be debited to the Depreciation Expense account
Indicate whether the statement is true or false
Texas Corporation is undergoing a complete liquidation and distributes land to Robert, one of its shareholders, in exchange for all of Robert's stock. The land has a basis of $300,000 and an FMV of $400,000 on Texas Corporation's books and is subject to a $325,000 liability. Robert assumes the liability on the property. Robert's basis in his Texas Corporation stock is $100,000. What is the amount
of gain or loss recognized by Robert on the distribution? A) $175,000 gain B) $25,000 gain C) $25,000 loss D) No gain or loss is recognized.