Which of the following sets of duties would ordinarily be considered basically incompatible in terms of good internal control?
a. preparation of monthly statements to customers and maintenance of the accounts payable subsidiary ledger.
b. posting to the general ledger and approval of additions and terminations relating to the payroll.
c. custody of unmailed signed checks and maintenance of expense subsidiary ledger.
d. collection of receipts on account and maintaining accounts receivable records.

Which of the following services will be provided by a full-service broker but not by a discount broker? i. research of potential investment opportunities ii. purchase and sale of stock at your request iii. recommendation of investments a. i and iii b. ii only c. iii only d. i, ii, and ii

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

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