According to a study sponsored by The Committee of Sponsoring Organizations (COSO), the most common way to manipulate revenue accounts is by:
a. reclassifying expenses as revenues.
b. recording fictitious revenues.
c. inappropriately reducing sales returns and allowances.
d. prematurely recording revenue.
b
FEEDBACK: a. Incorrect.
b. Correct. COSO found this to be the most common way to manipulate revenue accounts.
c. Incorrect.
d. Incorrect. This is the second most common way to manipulate revenue accounts.
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When the single liability limit is the same as the limit per accident on a split liability limit policy,
A) the better coverage will depend upon the number of people involved in the accident and the severity of the physical injuries. B) both policies will provide identical coverage. C) the split liability limit will provide the better coverage. D) the single liability limit will provide the better coverage.
Are DVRs legal?
What will be an ideal response?