Consider the Following Short Case as You Respond to the Question

question 45

Multiple Choice

Consider the following short case as you respond to the question: Abruzzi's Italian Kitchen is a small family restaurant with an administrative staff of four people.Giuseppi Abruzzi is the chief executive officer; his wife Maria is the chief financial officer.Their son Antonio is responsible for all transactions dealing with kitchen supplies, including the raw materials for menu items; their son Carlo is responsible for all transactions dealing with dining room supplies, such as eating utensils.The restaurant's administrative practices have developed over the ten years of its existence with minimal reliance on information technology and formal procedures and a stronger emphasis on interpersonal relationships with a few reliable vendors.Once a month, Antonio places orders for kitchen supplies with one of four vendors based on price; the supplies are usually received within ten calendar days.On receipt of the supplies, Antonio pays the vendor with a company check.Carlo follows a similar process for dining room supplies, but works with a set of three vendors, none of which sell kitchen supplies.Which of the following statements about internal control at Abruzzi's Italian Kitchen is most true?

• A)It has adequate separation of duties because Giuseppi is CEO and Maria is CFO.
• B)It has adequate separation of duties because Antonio orders kitchen supplies and Carlo orders dining room supplies.
• C)It does not need to separate duties because it is a family-owned business.
• D)None of these statements is true.

Understand proper procedures for collecting and handling various types of specimens.

Recognize and respond appropriately to patient distress during specimen collection.

Ensure accurate patient identification before specimen collection.

Educate patients on pre-test preparations and procedures for home testing.

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Definitions:

Business Assets

Resources owned by a business that have economic value and can contribute to the company's future income, including both tangible and intangible items.

Payable In Installments

An agreement or obligation that allows payment to be made in parts or increments over a specified period, instead of a lump sum.

Corporate Stocks

Shares representing ownership in a corporation, providing shareholders with a claim on part of the company's assets and profits.

Article 2

Typically refers to a portion of the Uniform Commercial Code that governs the sale of goods in the United States.