Merchandise sold F.O.B. destination belongs to the buyer while in transit

Indicate whether the statement is true or false.

FALSE

Business

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Campaign Services hired a new accounting manager. He signed a contract for a new accounting information system, but his position did not specify whether he was authorized to do so or not

In the above situation, which internal control procedure needs strengthening? A) assignment of responsibilities B) competent, reliable, and ethical personnel C) separation of duties D) documents

Business

Liability insurance protects you and your family from the negligence of others

Indicate whether the statement is true or false.

Business