A disadvantage of the functional structure is that the barriers due to differences in goals and processes between functions can prevent functions from working together on projects

How is the gross profit method used as it relates to inventory valuation?

a. Verify the accuracy of the perpetual inventory records. b. Verity the accuracy of the physical inventory. c. To estimate cost of goods sold. d. To provide an inventory value of LIFO inventories.

Which of the following statements regarding the disposition of fiduciary funds is CORRECT?

A) Funds collected as premiums are to be kept separate from those used for personal expenses or investments. B) Since the insured knowingly gave the premiums to the agent, personal use of those funds by the agent would not be considered theft. C) As long as the agent replaces any funds he used for personal expenses, the agent has not violated the fiduciary trust. D) A licensee may invest fiduciary funds in the stock market."