Which of the following fraudulent activities most likely could be perpetrated due to the lack of effective internal controls in the revenue cycle? a. merchandise received is not promptly reconciled to the outstanding purchase order file. b. obsolete items included in inventory balances are rarely reduced to the lower of cost or market value. c. the write-off of receivables by personnel who receive cash permits the misappropriation of cash. d. fictitious transactions are recorded that cause an understatement of revenue and overstatement of receivables.

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.