A spin-out occurs when a large company divests itself of one of its smaller divisions and the division becomes an independent company

An entity erroneously recorded a large purchase twice. Which of the following internal control measures would be most likely to detect this in a timely, efficient manner?

A) periodically tracing the purchases journal daily totals to the applicable postings in the general ledger B) sending quarterly confirmations to all vendors C) reconciling monthly statement received from the vendor with the accounts payable subsidiary ledger D) tracing the totals from the purchases journal to the various general ledger accounts

Where a landowner owned an existing structure with four dwelling units in it when the zoning

applicable to the parcel was changed to permit only single-family residences, the landowner would have a(n): A) Nonconforming use. B) Variance. C) Covenant exemption. D) Public nuisance. E) Private nuisance.