Authorization of Which of the Following Is least likely to Be

question 24

Multiple Choice

Authorization of which of the following is least likely to be found during a review of the minutes of the board of directors?

• A)Dividends.
• B)New debt issuance.
• C)New bank accounts.
• D)Write-off of trade accounts receivable.

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Definitions:

Commission

A fee paid to an agent or employee for transacting a piece of business or performing a service.

Purchasing Power

The real value of money, reflecting how much goods or services one unit of money can buy.

Period

A length or portion of time, often defined for specific calculations or measurements.

Ratio

A quantitative relationship between two numbers showing how many times one value contains or is contained within the other.