Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting, compliance with laws and regulations and ineffective and inefficient operations

In regards to benchmarking, which of the following statements is incorrect?

A) Benchmarking is the practice of comparing a company with other leading companies. B) The industry average is not a useful benchmark for evaluating a company. C) Providing common-size percentages in a graphical manner highlights differences. D) The two main types of benchmarks in financial statement analysis include benchmarking against the industry average and benchmarking against a key competitor.

Use the following information to calculate the free cash flow of Harris, Inc

Net cash provided by operating activities, $25,000 Net cash provided by financing activities, $35,000 Net cash used for planned investment in long-term assets, $12,000 Net cash used for investing activities, $20,000 Cash dividends paid, $10,000. What will be an ideal response