Good internal control requires that one employee handle the tasks of ordering su

Question

Good internal control requires that one employee handle the tasks of ordering supplies, receiving the supplies, and paying the supplier.
True
False

A business improves stockholders' equity by __________.
a. Earning revenues in excess of expenses
b. Paying dividends
c. Buying more assets
d. Having more expenses than revenues

Which of the following is an example of deferred revenue?
a. Prepaid advertising
b. Premiums received in advance
c. Insurance expense
d. Accounts Receivable

A voucher is the notification accompanying the check issued to a creditor that indicates the specific invoice being paid.
True
False

Explanation / Answer

b. Paying dividends c false

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