Which of the following is the primary reason the auditor obtains and reviews a cutoff bank statement?
a. Verify the balance of cash per the bank's general ledger at the balance sheet date.
b. Verify the reconciling items on the year-end bank reconciliation.
c. Test for intentional lapping of bank transfers.
d. Foot the cutoff bank statement for completeness.
b
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Which of the following statements is not true when FLK Company discounts a note receivable to the bank?
a. FLK may ultimately have to pay the bank when the note is due. b. If the maker of the note pays the bank on time, no liability will result to FLK. c. FLK will receive the maturity value from the bank. d. A contingent liability arises for FLK.
According to Mintzberg’s classic analysis, which of the following decisional roles is most central to the nature of managerial work?
A. relationship-building B. communication C. training D. decision-making
How does the retiring representative's decision to not use a CRM system most likely affect Frederick Company?
A) Customer knowledge is lost rather than passed on to the rest of the company. B) The sales representative's territory is not maximized because of poor strategy. C) The entire company's pipeline forecasts cannot be maintained or calculated. D) Organizational culture is damaged because of a lack of team spirit. E) Hiring practices are hindered because of poor mentoring methods.
High levels of motivation in teams are likely when
A. the team has low levels of diversity. B. team members see one another as each member sees himself or herself. C. the rewards are substantial. D. the task is challenging.