Which system is not part of the expenditure cycle?
a. cash disbursements
b. payroll
c. production planning/control
d. purchases/accounts payable
C
You might also like to view...
The ________ is a duty of the insurer to protect the insured against lawsuits or legal proceedings that involve a claim within the coverage of the insurance policy
A) duty of strict liability B) duty to pay C) duty of reasonable care D) duty to defend
The journal entry to open a new petty cash fund includes a debit to the Petty Cash account and a credit to the Cash account
Indicate whether the statement is true or false
Although Hal did not win the drawing for the statewide lottery, which sells thousands of tickets, he is much more confident of winning the drawing for the nationwide lottery, which sells millions of tickets. The reason is that whereas he bought just one ticket for the statewide game, he bought ten tickets for the nationwide one. Hal's reasoning is an example of
A. the ratio bias effect. B. the gambler's fallacy. C. representativeness. D. fundamental attribution error. E. a self-serving bias.
Faughn Corporation has provided the following data concerning manufacturing overhead for July: Actual manufacturing overhead incurred$69,000Manufacturing overhead applied to Work in Process$79,000 The company's Cost of Goods Sold was $243,000 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true?
A. Manufacturing overhead was overapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $233,000 B. Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000 C. Manufacturing overhead was overapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000 D. Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $233,000