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Which of the following is an internal control activity that could prevent a paid disbursement voucher from being presented for payment a second time?
a. Vouchers should be prepared by individuals who are responsible for signing disbursement checks.
b. Disbursement vouchers should be approved by at least two responsible management officials.
c. The date on a disbursement voucher should be within a few days of the date the voucher is presented for payment.
d. The official who signs the check should compare the check with the voucher and should stamp "PAID" on the voucher documents.
omparative analyses can only take place in an environment of stable, static and consistent rules. Your final project will be to synthesize the issues/data previously researched into a single paper.
Prepare a forecasted contribution margin income statement for 2012 that shows the expected results with the machine installed. Assume that the unit sales price and the number of units sold will not change, and no income tax will be due.
When the balance sheet was prepared, the value of the equipment later rose to $22,000. What is the relevant measure of the value of the equipment?
Unger Company uses the perpetual inventory method. Unger sold goods that cost $3,500 for $7,200. If the sale was made to a customer on account, the sale will:
Wahr Corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. At the beginning of the most recently completed year
Examine how the SOX framework can prevent business model fraud in financial accounting and managerial accounting.
Assume Research In Motion invested $834 million to expand its manufacturing capacity. Assume that these assets have a seven-year life, and that Research In Motion requires a 12% internal rate of return on these assets.
During the last week of August, Apache Arts Company's owner approaches the bank for an $107,500 loan to be made on September 2 and repaid on November 30 with annual interest of 14%, for an interest cost of $3,763.
How much revenue will Drysdale recognize under the cash method and under the accrual basis? Describe how Drysdale should apply the matching principle to recognize expenses. Prepare an income statement according to the accrual method. Ignore income ta..
Evaluate the accounting ethics of creating, initiating, or adjusting transactions to repatriate excess cash for multinational firms in transfer pricing decisions and suggest a way that this practice may be implemented.
Oatly is concerned about the collectability of outstanding loan and whether the trucks still exist. He thus engages Susan Virms, CPA, to count the trucks, using registration information held by Oatly.
Mary is buying several items that cost $128.25 total. She is using a store coupon for 35% off her purchases. She has to pay 4% sales tax. Calculate the total cost of the items.
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