In the consideration of internal control, the operating effectiveness of controls is tested by:
A. Tests of controls.
B. Substantive procedures.
C. Decision tables.
D. Flowcharts verification.
Answer: A
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An Internet service provider (ISP) is a(n) ________ company
A) pure-click B) brick and click C) brick-and-mortar D) m-commerce E) one-level
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash$7000? Accounts receivable 13,150? Inventory 15,500? Prepaid expenses 2300? Plant and equipment, net of depreciation 20,200? Land 14,100? Total assets$72,250? Liabilities and stockholders' Equity Accounts payable$3210? Salaries payable 7530? Bonds payable (due in ten years) 15,500? Common stock, no par 13,000? Retained earnings 33,010? Total liabilities and stockholders' equity$72,250? What is the company's current ratio? (Round your answer to 2 decimal places.)
A. 1.88 B. 0.77 C. 3.53 D. 1.36
According to the Delaware Supreme Court, when does the role of a director shift from being a "protector of the corporate bastion" to being an "auctioneer" charged with obtaining the highest realizable short-term value for the shareholders?
a. Only when the breakup of the corporation or a change of control has become inevitable b. Whenever a yearly loss is reflected c. At the point that a yearly loss has been reflected for three straight years d. When the CEO and the board of directors are in disagreement, and there has also been a yearly loss reflected for three straight years
When a florist shop begins to sell burial caskets to its customers, it is engaged in product development.
Answer the following statement true (T) or false (F)