13. Internal and external auditors are responsible for which component of internal control per the Coso integrse Framework? Monitoring b. Control environment C. Risk assessment d. Control activities 14. Which of the following describes the practice of setting the initial price low in an attempt to get a share of the market? a. Price skimming b. Penetration pricing c. Dumping Predatory pricing 15. Clark has determined its EOQ to be 1500 units. Demand for the year is 54,000 units. 3 days elapse between the time an order is placed until it is receivedClark conducts business 360 days per year which of the following statements is correct regarding the reorder point? Reorder point-(daily demand x lead time)+Safety stock gr a. When the company has less than 450 units on hand, they need to place an order for 1500 units b. When the company has less than 750 units on hand, they need to place an order for 54,000 units c. When the company has less than 162,000 units on hand, they need to place an order for 1500 units d. When a company has less than 1500 units on hand, they need to place an order for 450 units 16. What three taxes are paid by employers as part of their payroll tax? a. FICA, State Income Tax withholdings, FUTA b. FICA, Federal Income Tax withholdings, SUTA c. State Income Tax withholdings, Federal Income Tax withholdings, SUTA d. FICA, FUTA, SUTA 17. ABC Company's sales were budgeted for the first six months of its fscal year as follows April $85,000 May $105,000 June $137,500 uly August September $120,000 97,500 90,000 All sales are on credit and management estimates that 55% will be collected in the month following the sale. with the remaining 45% collected the second month following the sales. Cash collections during lune are estimated to be: a. $137,500 b. $122,875 c.$94,000 d. $96,000 18. Refer to the information in the question above. What is the balance in Accounts Receivable at the beginning of June before June sales are recorded? a. $143,250 b $105,000 c. $96,000 d. $47,250 31Pa8