Change involving a practice that is new to the industry is referred to as ______ innovative change.

Which of the following activities would be least likely to strengthen a company's internal control?

A) separating accounting from other financial operations B) maintaining insurance for fire and theft C) fixing responsibility for the performance of employee duties D) carefully selecting and training employees

The sales returns and allowances account is reported as a

A) contra-revenue account on the income statement. B) current liability on the balance sheet. C) contra-asset reducing accounts receivable on the balance sheet. D) selling expense on the income statement.