The account number used in the heading of the four-column ledger account is taken from the chart of accounts and is used in the posting process
Indicate whether the statement is true or false
T
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What is the correct formula for cell B7?
a) =B3/(B2-B5)
b) =(B2+B3+B5)/B4
c) =(B2-B5)/B4
d) =(B2-B3)/(B5-B4)
e) =B4/(B2-B5)
A $190 credit item is posted as a debit. The trial balance column totals therefore will differ by
a. $380. b. $760. c. $190. d. $0.
Decisions management must make in accounting for inventory cost include all of the following except:
A. Perpetual or periodic inventory system. B. Items included in inventory and their costs. C. Costing method. D. Damage or obsolescence E. Customer demand for inventory.
____ methods increase the possibility that future results will compare favorably with planned results.
a. Preliminary control b. Concurrent control c. Feedback control d. Service control