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NEW QUESTION: 1
A. Option C
B. Option E
C. Option D
D. Option B
E. Option A
Answer: A,D,E
NEW QUESTION: 2
Every year, the accounts payable employee, Ann, takes a week off work for a vacation. She typically completes her responsibilities remotely during this week. Which of the following policies, when implemented, would allow the company to audit this employee's work and potentially discover improprieties?
A. Separation of duties
B. Mandatory vacations
C. Least privilege
D. Job rotation
Answer: D
NEW QUESTION: 3
Ocean Corp.'s comprehensive insurance policy allows its assets to be replaced at current value. The policy has a $50,000 deductible clause. One of Ocean's waterfront warehouses was destroyed in a winter storm. Such storms occur approximately every four years. Ocean incurred $20,000 of costs in dismantling the warehouse and plans to replace it. The tax rate is 30%. The following data relate to the warehouse:
Current carrying amount $ 300,000
Replacement cost 1,100,000
What amount of gain should Ocean report as a separate component of income before extraordinary items?
A. $780,000
B. $1,030,000
C. $730,000
D. $0
Answer: C
NEW QUESTION: 4
A. Option C
B. Option D
C. Option B
D. Option A
Answer: D
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