The selling division may use a transfer price different from that used by the division buying the item being transferred in order to evaluate the performance of the managers
Indicate whether the statement is true or false
T
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Answer the following statements true (T) or false (F)
1. To help prevent theft by the sales clerk, at the end of each day, the manager proves the cash by comparing the cash in the drawer against the cash register&#s record of cash sales. 2. To ensure that there is no collusion between the manager and sales clerks, the accounting department employees deposit the cash in the bank and use the deposit slip to prepare the journal entry for cash receipts and sales revenue. 3. As a part of the internal control over cash receipts by mail, the mailroom sends both the customer checks and the remittance advices to the accounting department. 4. Regarding controls over cash receipts by mail, the accounting department should prepare the deposit ticket from the remittance advices. 5. For strong controls over cash receipts, the checks to be deposited should be sent to the treasurer, and the remittance advices should be sent to the accounting department.
Leadership in which type of marketing system is assumed not through common ownership or contractual ties but through the size and power of a single dominant channel member?
A) a horizontal marketing system B) an administered vertical marketing system C) a corporate vertical marketing system D) a conventional marketing system E) a multiple distribution system
Offerman Corporation is conducting a time-driven activity-based costing study in its Tech Support Department. The company has provided the following data to aid in that study:Offerman CorporationTech Support DepartmentData InputsResource Data: Number of employees 5 Average salary per employee$44,280 Weeks of employment per year 50 Minutes available per week (40 hours × 60 minutes) 2,400 Practical capacity percentage 90%?Activity Data:Routing CallsResolving ProblemsPreparing Change OrdersMinutes per unit of the activity162834?Cost Object Data:Customer PCustomer QNumber of calls routed3215Number of problems resolved1810Number of change orders prepared00?On the Customer Cost Analysis report in time-driven activity-based costing, the total cost assigned to Customer Q would
be closest to: A. $0.00 B. $98.40 C. $114.80 D. $213.20
Mr. Marshall was employed by IMP Inc. until October, when he accepted a new position with Turine Inc. Mr. Marshall earned $140,000 compensation from IMP and $36,000 compensation from Turine. Which of the following statements is false?
A. Turine must withhold Medicare tax from Mr. Marshall's $36,000 compensation. B. Mr. Marshall is entitled to an income tax credit for excess Social Security tax withheld by his employers this year. C. Turine must withhold Social Security tax from Mr. Marshall's $36,000 compensation. D. None of the above is false.