A good system of internal controls:
a. depends on the competency of the people enforcing it.
b. can never, by itself, provide absolute assurance that all fraud will be prevented.
c. needs to be monitored and tested to ensure its accuracy.
d. All of the choices are true of a good system of internal controls.
d
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Which of the following best describes the concept of ethics?
A) Protecting information entrusted to your care B) Security measures in software and hardware C) Undistorted data D) Accepted principles of conduct that govern behavior E) A code of conduct
Which of the following phases of the ideal negotiation process means making moves from your initial, ideal position to the actual outcome?
A. information gathering B. preparation C. bidding D. information using
You plan to invest in one of two home delivery pizza companies, High and Low, that were recently founded and are about to commence operations. They are identical except for their use of debt (wd) and the interest rates on their debt--High uses more debt and thus must pay a higher interest rate. Based on the data given below, how much higher or lower will High's expected EPS be versus that of Low, i.e., what is EPSHigh- EPSLow? Do not round your intermediate calculations. Applicable to Both Firms Firm High's Data Firm Low's DataCapital$3,000,000 wd70% wd20%EBIT$565,000 Shares90,000 Shares240,000Tax rate35% Int. rate12% Int. rate10%?
A. $01.16 B. $00.67 C. $01.07 D. $00.80 E. $00.89
Quixotic Company claims to be a corporation but it is not. Rachel signs a contract with Quixotic that is not performed. In Rachel's suit against Quixotic, a court will likely recognize the firm as
A. a corporation by estoppel. B. a de facto corporation. C. a de jure corporation. D. an ultra vires corporation.