No journal entries are required for the reconciling items on the bank side because ________
A) those transactions have already been recorded in the company's ledger
B) the adjusted balances on both sides are the same amounts
C) the amounts are immaterial
D) those transactions are already included in the bank balance
A
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Every fraud is comprised of all the following elements EXCEPT:
a. The theft act b. Concealment c. Conversion d. Assault
Most business presentation visuals for nonlinear presentations are created using
A. Prezi B. Overhead transparencies C. Microsoft PowerPoint D. Flip charts E. Chalkboards and whiteboards
The following information relates to Dane Corporation: Inventory conversion period 55.8 days Days sales outstanding 23.9 days Days payables outstanding 32.5 days Which of the following is the cash conversion cycle of the company?
A. -0.6 days B. 112.2 days C. 79.7 days D. 64.4 days E. 47.2 days
Julie's Diamond Boutique is very concerned with its order policies related to one-carat diamond solitaires. Their current policy is to order 10 diamonds whenever their inventory reaches 6 diamonds (unless there is already an ordered delivery due)
Currently there are 8 diamonds on hand. Orders are placed at the end of the month and take one month to arrive (e.g., if an order is placed at the end of month 1, it will be available at the beginning of month 3). The following distribution of monthly sales has been developed using historical sales. If Julie's Diamond Boutique does not have a diamond on hand, it will result in a lost sale. Use the following random numbers to determine the number of lost sales of one-carat solitaires at the store over 12 months. Monthly sales Probability 3 .20 4 .30 5 .20 6 .20 7 .10 Random numbers for sales: 10, 24, 03, 32, 23, 59, 95, 34, 34, 51, 08, 48