Sara Smith Has Worked for Bosco Inc

question 66

Multiple Choice

Sara Smith has worked for Bosco Inc.for 20 years without taking a vacation.An internal control feature that would address this situation would be

• A)human resource controls.
• B)establishment of responsibility.
• C)physical controls.
• D)documentation procedures.

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Definitions:

Yield Burning

The practice of financial intermediaries marking up the prices on bonds to reduce the yield, often in the context of municipal bond refinancing.

Underpricing

The practice of setting the initial offering price of a security, typically a stock, below its market value.

Public Issue

The offering of shares by a company to the public for the first time to raise capital.

Standby Fee

A charge paid to a lender or service provider for keeping credit or facilities available to a borrower, even if not currently used.