CHAPTER 7 Fraud‚ Internal Control‚ and Cash Study Objectives 1. Define fraud and internal control. 2. Identify the principles of internal control activities. 3. Explain the applications of internal control principles to cash receipts. 4. Explain the applications of internal control principles to cash disbursements. 5. Prepare a bank reconciliation. 6. Explain the reporting of cash. 7. Discuss the basic principles of cash management.
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CHAPTER 7 Cash and Receivables ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. 2. Accounting for cash. Accounting for accounts receivable‚ bad debts‚ other allowances. Accounting for notes receivable. Assignment and factoring of accounts receivable. Analysis of receivables. Petty cash and bank reconciliations. Questions 1‚ 2‚ 3‚ 4‚ 21 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12‚ 13‚ 14‚ 15 14‚ 15 16‚ 17‚ 18‚ 19 20 22 Brief Exercises 1 2‚ 3‚ 4‚ 5 Concepts Exercises 1‚ 2 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 9‚ 10‚ 11‚ 12 18‚ 19
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Quiz Questions for Chapter 9 1. A truck was purchased for $25‚000. It has a six-year life and a $4‚000 salvage value. Using straight-line depreciation‚ what is the asset’s carrying value (book value) after 2 1/2 years? a. $8‚750. b. $12‚250. c. $14‚583. d. $16‚250. 2. On January 1‚ 2003‚ Superior Landscaping Company paid $17‚000 to buy a stump grinder. If Superior uses the grinder to remove 2‚500 stumps per year‚ it would have an estimated useful life of 10 years and a salvage value
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Management Quiz #1 CHAPTER 1: * Innovation know no price * Management: attaining goals effectively and efficiently through planning‚ organizing‚ leading‚ and controlling. * Effectively: getting it done correctly * Efficient: getting the job done using the least amount of resources (human labor‚ time‚ money). * 4 principles of management 1. Planning- provides direction‚ reduces impact of change‚ minimizes waste and redundancy‚ sets standards to facilitate control 2
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Chapter 7 Assurance 1. What are the benefits to firms that decide to engage in global marketing? Company growth or expansion‚ also introducing new products internationally can expand a company’s customer sales and revenue. They can also find products that are hard to find when they go globally. 2. Why is a nation’s infrastructure an important factor for global marketers to consider? It’s important because an Inadequate Infrastructure might constrain marketers plan
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Chapter 7 Design Activities and Environments Thinking Critically 1. Review the definitions of architectural and detailed design and the brief descriptions of high-level design activities at the beginning of the chapter. Which activities are clearly architectural? Which are clearly detailed? Which can be architectural or detailed? Designing the support services architecture and deployment environment and designing the software architecture are clearly architectural.
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E-Business Ch. 6 – 10 Assignments Chapter 6 Questions 1) Is growth of the internet‚ in terms of users‚ expected to continue indefinitely? What will cause it to slow if anything? Internet growth is now currently slowing. This is because of computer costs. Unless the price of computers drop significantly the internet growth rate will continue to decline 3) Would you say that the Internet fosters or impedes social activity? Explain your position. I would say both. The Internet probably both
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Chapter 9 GDP is the market value of all the final goods and services produced by all firms located in the United States in a given time period Marginal external cost The cost of producing an additional unit of a good or service that falls on people other than the producer. Efficiency Efficiency is achieved when the marginal social benefit equals the marginal social cost. Which of the following best describes an externality? An effect of a transaction felt by someone other than the
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consider factors such as the debt to equity ratio of the borrower and its past loan repayment performance. The term structure of interest rates is a market-wide factor and is likely to influence the base rate‚ but it should not influence the margin that applies to a borrower‚ so C is the correct answer. MORE: Financial Institutions‚ Instruments and Markets 5/e‚ pp. 390–391. The interest rate charged on a term loan will also depend on the following: • The credit risk of the borrower. This is the perceived
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substitute products or forgo buying the product. a. True 4. Companies operating in less competitive markets offer products or services that differ from each other. a. True 5. $6‚250‚000 on the sales order activity and 5‚500 sales orders. a. = 6250000/5500 batch-level costs. 6. The lower the cost of producing a product‚ the greater the quantity of product the company is willing to supply. a. True 7. _____ tracks and accumulates business function costs across the entire value chain from a product’s
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