Which of the following is not a way to improve fraud detection?
A) Install fraud detection software.
B) Implement a fraud hotline.
C) Employ a computer security officer.
D) Implement computer-based controls over input, processing, storage, and output activities.
D
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Parrish Industries has bonds outstanding (originally sold for $5,400,000) in the amount of $6,000,000 with a current bond discount of $100,000. The bonds were selling at 104 on the market at its year end. What should be the balance of the Fair Value Adjustment on Bonds Payable?
A) $340,000 debit balance B) $840,000 debit balance C) $840,000 credit balance D) $340,000 credit balance
Band Instruments, Inc, sells seventy-six trombones to Community & School Band Source, Inc To avoid liability for most implied warranties, Band Instruments should state in writing that the trombones are sold
a. as is. b. by a merchant. c. in perfect condition. d. with no known defects.