Which of the following is the primary assertion related to testing inventory on hand to see if it includes consignment goods?
a. Existence
b. Completeness
c. Valuation
d. Rights and Obligations
d
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Which of the following is least likely to report (either directly or indirectly) to the vice president of finance?
a. controller b. treasurer c. shipping department supervisor d. accounts payable department
Dana believes that a new phone to be sold by Ear Fruit Inc. will become the most popular phone in the market. Dana enters into a contract to buy 500 shares of Ear Fruit stock, anticipating an increase in its value. The phone does not become popular, and the price of the stock does not rise. Dana can recover
A. nothing. B. the amount of the purchase price. C. the amount of the purchase price plus the expected increase. D. the amount of the purchase price plus the unexpected decrease.
Assuming the humidity level in an office is within the proper range, an ideal temperature is
A. 64 degrees F. B. 66 degrees F. C. 68 degrees F. D. 70 degrees F.
Which of the following dates do NOT require a journal entry?
A) Date of payment B) Date of record C) Date of declaration D) All dividend dates require a journal entry.