You Have Been Running a Landscaping Business Called Trim Grass

question 23

Multiple Choice

You have been running a landscaping business called Trim Grass for about two years. You have developed a special blend of grass seed for your area that you use when you reseed your clients' lawns. You are receiving e-mails via your Web site from people who would like to purchase some. You decide to start selling seed online, and you hire someone to rebuild your Web site. Which of the following statements is false?

• A)Trim Grass is now multichanneling.
• B)Trim Grass needs to think about how to ship the seed.
• C)Trim Grass will have to collect sales tax from all sales.
• D)Trim Grass will have more expenses.
• E)Trim Grass will need to consider different advertising methods.

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Definitions:

Petty Cash Custodian

An individual responsible for managing a petty cash fund, disbursing small amounts of cash for minor expenses, and maintaining records of these transactions.

Deposit In Transit

Refers to money that has been received and recorded by a business but has not yet been reflected in the bank's records.

Documentation Procedures

The protocols and guidelines for preparing and handling documents and records in a systematic manner.

Segregation Of Duties

An internal control measure that splits responsibilities among multiple people to reduce the risk of error or fraud within an organization.