Internal controls that should be applied when a business takes a physical count of inventory should include all of the following except:
A. Second counts by a different counter.
B. A manager confirms that all inventories are ticketed only once.
C. Prenumbered inventory tickets.
D. Counters of inventory should be those who are responsible for the inventory.
E. Counters confirm the validity of inventory existence, amounts, and quality.
Answer: D
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Weisbord is known for indicating that
a. a consultant can turn down an engagement if it is unlikely to succeed. b. a consultant does not need to rely on the contracting phase. c. a consultant is never finished with contracting. d. a consultant must find an ending with contracting.
Regarding the sales budget, which of the following statements is incorrect?
A) The forecast of sales revenue is the cornerstone of the master budget. B) The level of sales affects expenses and almost all other elements of the master budget. C) The budgeted sales are carried from the sales budget to the balance sheet. D) Budgeted total sales for each product equal the sales price multiplied by the expected number of units sold.
Fact Pattern 15-1BOdell and Pete sign a contract for the sale of Odell's Pizza Parlor to Pete. The parties intend their written contract to be a final statement of most, but not all, of the terms of their agreement¾Odell must first buy the building from Quin, after which Odell and Pete will negotiate a final price.Refer to Fact Pattern 15-1B. Pete later disputes some of the provisions of the deal with Odell. If the dispute results in litigation, a court will most likely admit evidence of
A. ambiguous additional terms. B. consistent additional terms. C. contradictory additional terms. D. fraudulent additional terms.
The process of using computers to transfer funds from person to person and bank to bank is called _________________________
Fill in the blank(s) with correct word