The Following Set of Items Describes Activities Completed by a Company

question 184

Multiple Choice

The following set of items describes activities completed by a company in purchasing and paying for merchandise and in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. (Choices may be used more than once.)
-Although department supervisors can request a preferred supplier or vendor,the purchasing department is responsibile for making the final decisions on a vendor.

• A)adheres to sound internal controls
• B)violates sound internal controls
• C)neither strengthens nor violates internal control

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Definitions:

Labor Unions

Entities that act on behalf of employees in discussions with employers about salaries, work environment, and perks.

Labor Supply

The total hours of work that workers are willing and able to provide at a given wage rate.

Demand for Labor

The total amount of workers that employers want to hire at a given wage rate, in a given time period.

Union Membership

Involvement in an organized association of workers formed to protect and further their rights and interests in the workplace.