QUESTION 7 Match the statement on the left with the category on the right. v "Everyone is going to cheat on the exam, so l'd better cheat, too." A. Independent verification. v "If I fail this class, l'll lose my scholarship." B. Segregation of duties. v "This company has lousy internal controls and doesn't enforce the ones it has." C. Opportunity. D. Establishment of responsit v "Sorry to make you wait, but my cashier shift has ended, and we have to switch out cash boxes." E. Incentive. F. Rationalization. v "I count cash at the end of the day, but Carlos keeps the accounting records for Cash." v "We can't hire our audit firm for a consulting project about our internal controls."
QUESTION 7 Match the statement on the left with the category on the right. v "Everyone is going to cheat on the exam, so l'd better cheat, too." A. Independent verification. v "If I fail this class, l'll lose my scholarship." B. Segregation of duties. v "This company has lousy internal controls and doesn't enforce the ones it has." C. Opportunity. D. Establishment of responsit v "Sorry to make you wait, but my cashier shift has ended, and we have to switch out cash boxes." E. Incentive. F. Rationalization. v "I count cash at the end of the day, but Carlos keeps the accounting records for Cash." v "We can't hire our audit firm for a consulting project about our internal controls."
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Question 7?
Transcribed Image Text:O d. $29,475
QUESTION 7
Match the statement on the left with the category on the right.
"Everyone is going to cheat on the exam, so l'd better cheat, too."
A. Independent verification.
%3D
v "If I fail this class, l'll lose my scholarship."
B. Segregation of duties.
%3D
"This company has lousy internal controls and doesn't enforce the ones it
has."
C. Opportunity.
D. Establishment of responsibility
v "Sorry to make you wait, but my cashier shift has ended, and we have to
switch out cash boxes."
E. Incentive.
F. Rationalization.
v "I count cash at the end of the day, but Carlos keeps the accounting records
for Cash."
v "We can't hire our audit firm for a consulting project about our internal
controls."
QUESTION 8
ABC Corporation invests $60,000 in a Certificate of Deposit (CD) paying annual interest of 2.5 percent. The company's S
Receivable asset of $625 related to this CD. How many months earlier did the company purchase (invest in) the CD?
O a. 6 months
O b. 3 months
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