17. Quiet Phones Company has the following inventory data: $ 570 July 1 30 units at $19 Beginning inventory 7 Purchases 105 units at $20 2,100 22 Purchases 15 units at $22 330 $3,000 A physical count of merchandise Inventory on July 30 reveals that there are 48 units on hand. Using the UFO inventory method, the amount allocated to cost of goods sold for July is: a. $930. b. $990. c. $2,010 d. $2,070 18. Which of the following is not one of the main factors that contribute to fraudulent activity? a. Opportunity b. Incompatible duties. C. Financial pressure. d. Rationalization, 19. Internal controls are concerned with a. only manual systems of accounting. b. the extent of government regulations. C. safeguarding assets. d. preparing income tax returns 20. Under the concept of establishment of responsibility, how many people should have the ultimate responsibility? a. Everyone in the organization. b. An individual and his/her supervisor. c. Only one individual. d. The CEO. 21. Which one of the following items would not be considered cash? a. Coins. b. Money orders. C. Currency d. Postdated checks. 22. The reconciliation of the cash register tape with the cash in the register is an example of a. other internal controls. b. independent internal verification. c. establishment of responsibility. d. segregation of duties