A receiving department compares inventory items received with copies of purchase orders. The purchase orders list the name of the vendor and do not list the quantities of the material ordered. Using the purchase orders, the receiving department is most likely to detect:
A. Deliveries for which no purchase order was issued.
B. Deliveries of a greater quantity of items than those ordered.
C. Unapproved sales orders.
D. Partial deliveries.
Answer: A
You might also like to view...
The ______________________________ data is created as sales returns, bad debt write-offs, estimated doubtful accounts, or similar adjustments are processed
Fill in the blank(s) with correct word
________ is a preferred stockholder right to be paid a stated dollar amount if a corporation is dissolved and its assets redistributed
A) Noncumulative preference B) Cumulative dividend preference C) Dividend preference D) Liquidation preference
The assets of a company total $704,000; the liabilities, $202,000. What are the net assets?
A. $906,000. B. $202,000. C. $502,000. D. $704,000. E. It is impossible to determine unless the amount of stockholder investments is known.
Groot Promotional Services uses a job order system for costing and billing promotional services for dance and ballet performances
Groot has four public relations specialists plus an office staff. At the beginning of the year, Groot estimated the total cost of salaries and benefits for the public relations specialists at $675,000 and a total of 7,500 billable hours for the year. All remaining office and administrative costs were estimated at $405,000. The allocation base for office and administrative costs is billable hours. In June, Groot signed a contract for a Russian ballet performance. It estimated the new contract would require 34 hours of specialist time. What is the total cost estimate for this contract? A) $1,836 B) $4,896 C) $3,060 D) $1,224